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Press Release– 28 April, 2026 at 08:00 AM EEST
Digital Workforce, a global leader in enterprise automation and AI-driven solutions, today announced that Raiffeisen Bank International (RBI), one of the leading banks in Austria and Central and Eastern Europe, has centralized and expanded its SS&C Blue Prism automation technology partnership with Digital Workforce. Under the expanded agreement, Digital Workforce now serves as RBI’s partner for the group-wide SS&C Blue Prism license management and managed automation services in the RBI Head Office, deepening the relationship that has been built over several years.
RBI has been leveraging SS&C Blue Prism’s Robotic Process Automation (RPA) technology for over 10 years to drive efficiency and streamline operations across its organization. With this new agreement, the bank has chosen to integrate its automation partnership with its service delivery provider, Digital Workforce, a trusted automation partner for the RBI Head Office.
Digital Workforce supports RBI’s automation operations through its Outsmart Cloud platform, providing a fully managed environment where the bank has the scalability and flexibility to grow its digital workforce without the operational burden of managing the infrastructure. Through Outsmart Cloud, RBI can easily access its automation estate, including Blue Prism tools, with security and compliance controls tailored to banking-sector requirements, while Digital Workforce ensures the underlying platform runs smoothly and securely.
“With the recent transition to Digital Workforce as our RPA service provider, we have significantly improved service levels, quality, and resolution times, while gaining access to Digital Workforce’s full range of automation solutions. RPA remains a vital part of RBI’s automation portfolio, as GenAI and AI Agents are not always the optimal solution. Many business challenges can still be effectively addressed with rule-based automation, which often remains more reliable and cost-effective than GenAI or Agentic AI”, said Claus Mitterlehner, Head of Smart Automation, Raiffeisen Bank International.
“We have built a strong relationship with RBI based on trust, flexibility, and delivering results,” said Tapio Niinikoski, Chief Growth Officer, Enterprise & Public, at Digital Workforce. “Being chosen as their consolidated automation partner, for both managed services and license management, is a reflection of that. We are proud to support one of Europe’s leading banks in making automation a true driver of operational excellence.”
For more information
Tapio Niinikoski, Head of Growth, Public & Enterprise, Digital Workforce Services Plc tapio.niinikoski@digitalworkforce.com
About Digital Workforce Services Plc
Digital Workforce Services Plc (Nasdaq First North: DWF) is a leader in business automation and technology solutions. With the Digital Workforce Outsmart platform and services—including Enterprise AI agents—organizations transform knowledge work, reduce costs, accelerate digitization, grow revenue, and improve customer experience. More than 200 large customers use our services to drive the transformation of work through automation and Agentic AI. Digital Workforce has particularly strong experience in healthcare, automating care pathways across clinical and administrative workflows to reduce burden, enhance patient safety, and return time to patient care. Following the acquisition of e18 Innovation, the company has further strengthened its position in the UK healthcare pathway automation. We focus on repeatable, outcome-based use cases, and we operate with high integrity and close customer collaboration. Founded in 2015, Digital Workforce employs more than 200 automation professionals in the US, UK, Ireland, and Northern and Central Europe.
Our vision: Transforming Work – Beyond Productivity. https://digitalworkforce.com
The post Raiffeisen Bank International (RBI) Extends SS&C Blue Prism Automation Partnership with Digital Workforce appeared first on Digital Workforce.
Uncategorized
Digital Workforce Services Plc | Interim Report (Q1 and Q3) | April 22, 2026 at 8:00 EEST
Strong performance in all businesses and markets; new partnerships in agentic AI business
Digital Workforce started the year with a strong growth of both its Professional services revenue (55% growth) and Continuous services (38% growth). The growth was driven by strong performance of the healthcare sector in both Finland and the UK, as well as expansions in the Enterprise & Public customers. Profitability improved from the comparison period to a solid level, with a 7% adjusted EBITDA.
January-March 2026 financial highlights:
- Revenue was EUR 7.6 (5.3) million and increased by 45%
- Revenue from Continuous Services was EUR 4.6 (3.3) million and increased by 38%. The Continuous Services percentage of revenue was 60 % (62 %)
- Revenue from Professional Services was EUR 3.1 (2.0) million and increased by 55%. The percentage of revenue was 40% (38%)
- Adjusted EBITDA was EUR 0.5 (-0.3) million, 7% of revenue
- Operating profit (EBIT) was EUR -0.1 (-1.3) million
- Earnings per share (EPS) amounted to EUR -0.02 (-0.12)
- At the end of the reporting period, cash and bank receivables and other liquid assets were
at EUR 7.6 (10.2) million
- The number of employees at the end of the reporting period was 186 (171) and the
average number of employees was 183 (173)
Other events during the period:
Business
On February 22, 2026, the company announced a strategic partnership with Davies. Davies is a global specialist professional services and technology firm working in partnerships with leading insurance and other regulated industries. The intention is to pursue joint client deliveries of agentic AI solutions, initially focused on insurance and other regulated industries. The arrangement is a framework agreement with no minimum commitment; client-specific orders will be announced separately. The agreement does not change the 2026 financial outlook.
Management team and organization
On January 26, 2026, Digital Workforce announced a new operating model with two global business areas (Healthcare and Enterprise & Public). Juha Nieminen was appointed Chief Growth Officer for Healthcare and Tapio Niinikoski Chief Growth Officer for Enterprise & Public. Karri Lehtonen (Head of Sales, North America and Head of Legal) and Kristiina Åberg (Head of Marketing), as well as Stefan Meller (Europe region sales of Enterprise & Public) stepped down from the management team but continue with the company.
Governance
On February 22, 2026, the company announced it had completed its share repurchase program (January–February 2026), acquiring 98,648 own shares for EUR 249,974.30 (average price EUR 2.5340 per share). Potential intended uses for the treasury shares can be e.g., acquisitions, incentive schemes, reassignment, holding or cancellation. The company also confirmed that Lago Kapital Plc will continue as liquidity provider after the program.
On March 17, 2026, the company announced that it will change the accounting and presentation for license sales in its financial reporting, to improve visibility into the development of the recurring services business. Qualifying license sales will be reported net (customer payment deducted by fee to license supplier), and for new contracts from January 1, 2026, revenue will be recognized in the period when the customer agreement enters into force rather than being allocated over the contract term. The change lowers reported revenue but does not affect gross margin or EBITDA in absolute terms. In addition, the company aligned its 2026 outlook and strategy-period targets with the new presentation.
Outlook for 2026
(aligned with change of accounting principles on March 17, 2026)
Digital Workforce Group’s full-year 2026 revenue is expected to grow 15% or more from the year 2025. Adjusted EBITDA margin is expected to be 7–13% of revenue.
Financial targets for the strategy period
(aligned with change of accounting principles on March 17, 2026)
Growth: The company aims for an annualized revenue level of EUR 40 million exiting year 2026. The share of strategically important continuous services is aimed to increase from the level of 2025.
Profitability: The company aims to reach an adjusted EBITDA level of over 15% by the end of 2026.
Key Figures
| 1 000 euros |
1-3/2026 |
1-3/2025 |
Change % |
2025 |
| Revenue |
7 636 |
5 279 |
45 % |
24 263 |
| Professional Services revenue |
3 075 |
1 984 |
55 % |
10 218 |
| Continuous Services revenue |
4 560* |
3 295 |
38 % |
14 045 |
| Continuous services’ share of revenue |
60 % |
62 % |
|
58 % |
| Gross profit |
3 051 |
1 789 |
71 % |
10 258 |
| % of revenue |
40 % |
34 % |
|
42 % |
|
|
|
|
|
| Adjusted EBITDA |
499 |
-324 |
254 % |
1 265 |
| % of revenue |
7 % |
-6 % |
|
5 % |
| EBITDA |
421 |
-1 203 |
135 % |
57 |
| % of revenue |
6 % |
-23 % |
|
0 % |
| EBIT |
-125 |
-1 294 |
90 % |
-625 |
| % of revenue |
-2 % |
-25 % |
|
-3 % |
| Net income |
-223 |
-1 317 |
83 % |
-851 |
| EPS, eur |
-0.02 |
-0.12 |
|
-0.07 |
|
|
|
|
|
| Personnel at the end of the period |
186 |
171 |
|
181 |
| Average number of personnel |
183 |
173 |
|
174 |
*Change in accounting principles generated an approximately EUR 150 thousand additional impact on the Continuous services revenue of the first quarter, not expected to recur going forward.
EBITDA adjustment includes the following items:
|
Q1 26 |
Q1 25 |
FY 2025 |
| Restructuring |
0 |
-881 |
-939 |
| M&A |
-49 |
0 |
-216 |
| Other (write-offs, brand) |
-29 |
0 |
-53 |
|
-78 |
-881 |
-1 208 |
CEO Jussi Vasama:
In the first quarter of 2026, we reached a 45 % revenue growth leap, resulting from both organic growth and the acquisition of October 2025. In the end of 2025, and in early 2026 we announced several large customer contracts that are now supporting the strong performance in both Professional services as well Continuous services businesses. We are investing in the initiation of large customer contracts but simultaneously reached a strong profitability for the first quarter, with adjusted EBITDA of 7% of revenue.
In Healthcare, we progressed in all main markets – Nordics, the UK, and the United States. Our productized, modular care pathway solutions provide a unique, scalable opportunity to provide customer benefits and improve patient safety swiftly and efficiently.
In the Agentic AI business, the new customer contracts and partnerships are mainly supporting the Enterprise & Public business area, especially the customers in financial and insurance sector. The early-stage experiments and pilots have evolved into deployments that significantly transform knowledge work and support our customers’ core business. We are increasingly operating with the highest management of our customers, to enable a transformation of the business.
In March 2026, we arranged the first Investor Day in company history. It raised a lot of interest among both existing and potential investors. The company’s unique positioning, long experience of knowledge work transformation and multi-technology solutions, and the strong financial start of 2026 support our progress towards our targets in the year.
Events after reporting period
On April 10, 2026, Digital Workforce announced it had received a significant customer order of approximately EUR 2.6 million. The new order is a continuation of a partnership started first in 2020, whereby Digital Workforce delivers services to support the client in analyzing business process automation potential and developing process automations that execute the client’s multi-platform strategy effectively using different technologies while minimizing license costs.
Annual General Meeting (AGM) of shareholders was held on April 16, 2026. The meeting resolved on the adoption of annual accounts and discharged the members of the board and the CEO from liability for the previous financial year. The meeting resolved that a dividend of EUR 0.09 per share will be paid for the previous financial year. Antti Kummu, replacing Juha Mikkola, was elected as new board member. Other members of the Board of Directors were re-elected. Full disclosure of the AGM resolutions is available on the company website.
Financial calendar 2026
In 2026, Digital Workforce Services Plc will publish financial information as follows:
- Half-Year Financial Report for January-June 2026 on July 17, 2026 at 8:00 EEST
- Business review for January-September 2026 on October 21, 2026 at 8:00 EEST
Reports will be published in a company release and on the company website at https://digitalworkforce.com/investors/reports-and-presentations/
This is not an interim report pursuant to the IAS 34 standard. The company adheres to the semi-annual reporting arrangement laid down in the Securities Markets Act and publishes business reviews for the first three and nine months of each year, which present the key information on the company’s financial development. The financial information provided in this business review has not been audited. Unless otherwise stated. The figures in parentheses refer to the corresponding period of the previous year. Percentages and figures presented may include rounding differences and might therefore not add up precisely to the totals presented.
Contact information:
Digital Workforce Services Plc
Jussi Vasama, CEO
Tel. +358 50 380 9893
Laura Viita, CFO
Tel. +358 50 487 1044
Investor relations | Digital Workforce
Certified advisor
Aktia Alexander Corporate Finance Oy
Tel. +358 50 520 4098
The post Digital Workforce Services Plc: Business Review January 1 – March 31, 2026 (unaudited) appeared first on Digital Workforce.
Article
Finance and accounting teams believe intercompany is under control because their systems can match balances across entities. However, matching is only the signal. It’s not the movement. The real work begins after the discrepancy is flagged, and that’s exactly where the process breaks down. Intercompany transactions stall between detection and execution, which leaves journal entries unposted, ownership unclear and the close process waiting on decisions that never happen fast enough. If your intercompany process looks complete on the surface but still delays your close or forces last-minute manual adjustments, it’s worth asking a harder question: What actually happens after the match?
Flagging is not the finish line
Picture your intercompany accounting process as a rail network. Each intercompany transaction is a train moving between legal entities, like company A to company B or subsidiary A to subsidiary B. This train carries intercompany balances, cost allocations and expense allocation entries across your corporate group.
Matching is the signal light. It tells you something is aligned. It tells you something is misaligned. But it doesn’t actually move the train.
Most manual intercompany processes stop at that signal. Accounting software flags discrepancies between intercompany receivables and intercompany payables. Dashboards show that balances are “matched.” Accounting and finance teams see green lights and assume progress is being made when, in reality, nothing has moved.
The intercompany journal entry, which includes the debit and credit that updates general ledger accounts, adjusts liabilities and reflects the correct financial position, still hasn’t been created, approved or posted in SAP.
Take a manufacturing group operating across multiple legal entities. Subsidiary A records intercompany sales to subsidiary B. Company B records the payable, but timing differences and exchange rates create a mismatch. The system flags it. The match appears “resolved” on the dashboard. But over the next three days, finance teams debate ownership. Who posts the intercompany journal entry? Which chart of accounts should be used? Should the adjustment sit in the base currency of the parent company or the receiving subsidiaries?
The signal turned green, but the train never left the station.
Blame the manual hand-off
This is where intercompany management breaks down. Once a discrepancy is flagged, resolution depends on people. And people introduce friction.
When finance and accounting teams are stuck doing manual tasks, they get stuck in a loop of discrepancies instead of resolving them because they have to:
- Debate timing differences and ownership between company A and company B
- Hesitate on complex scenarios like intercompany loans, fixed assets transfers and internal transactions
- Route approvals through disconnected workflows instead of in-system execution
- Rely on email and spreadsheets to track decisions that never return to SAP
- Fragment the audit trail, which makes it harder to trace what actually happened
Meanwhile, the intercompany journal entry sits in limbo.
Accounts payable and accounts receivable teams wait on each other. Intercompany payable balances don’t align with intercompany receivable balances. Allocation decisions stall. No one owns the final step: posting the entry that resolves the issue.
In the manufacturing example, the delay compounds. The parent company can’t merge the data. Intercompany elimination is postponed. The close process stretches. What started as a minor mismatch in intercompany transactions became a missed group close deadline. The train is still sitting at the signal because no one is driving it forward.
Matching without posting is a false positive
A matched status without a posted intercompany journal entry is a false positive, not a resolution. Dashboards show aligned intercompany balances, but underneath:
- The accounting records haven’t changed
- The general ledger still reflects outdated positions
- Financial reporting pulls from incomplete data
- Accurate financial reporting becomes a matter of timing rather than truth
This is where risk builds quietly.
Without orchestration, visibility becomes misleading. Finance teams believe intercompany processes are complete, while intercompany journal entries remain unposted. During the audit, these gaps surface as discrepancies between reported numbers and actual ledger activity. Adjustments are made late. The audit trail shows delays. Questions follow.
Finance Automation by Redwood approaches this differently. It connects intercompany matching directly to execution. Once a match or mismatch is detected, the platform applies rules to generate the intercompany journal entry, route it through approvals within the system and post it natively in SAP.
This includes both sides of the transaction. The intercompany payable in company B and the intercompany receivable in company A are updated together. Debit and credit entries are aligned. General ledger accounts reflect the same reality across entities.
The manufacturing organization would’ve benefited from this automated process. Finance Automation would’ve generated, routed and posted both sides once rules, ownership and approvals were satisfied. The train wouldn’t have waited for manual coordination. It would have moved.
Put the train back on track
Intercompany accounting doesn’t fail at detection. It fails at execution. Orchestration is the reliable way to move from matching to resolution because it connects every step — detection, ownership, approval and posting — into one automated flow.
With Finance Automation, intercompany processes no longer rely on manual hand-offs. The system detects mismatches in real time across subledgers and general ledger accounts. It assigns ownership based on predefined rules tied to legal entities, transaction types or chart of accounts structures.
From there, workflows operate inside the platform, not outside it. Approvals happen in context. Audit trails are complete. Once approved, the intercompany journal entry is posted directly into SAP, which updates both sides of the transaction.
This applies across complex scenarios: intercompany loans, expense allocation, cost allocations, sales of goods and fixed assets transfers. Whether dealing with base currency adjustments, exchange rates or arm’s-length requirements under International Financial Reporting Standards (IFRS), the process remains consistent.
When your intercompany solution orchestrates the process, the train doesn’t stop at the signal. It continues through to its destination.
Finish what matching starts
Matching is only a signal, but the discrepancy continues without execution. Unresolved intercompany balances delay consolidation. They distort currency translation. They create double-counting risk in financial statements. They trigger internal disputes between business units and receiving subsidiaries. And they weaken decision-making because leadership is working with numbers that are still shifting.
Another example of intercompany journal entries makes this clear. If company A records a debit to intercompany receivable and company B fails to post the corresponding credit to intercompany payable, the imbalance carries forward. That single gap can cascade across reporting cycles and affect the balance sheet, financial position and consolidation outcomes.
Finance Automation ensures this doesn’t happen. Through rule-driven automation, it generates mirrored intercompany journal entry pairs, enforces approvals and posts across both entities’ books simultaneously. Cross-book posting orchestration keeps accounting records aligned and provides a complete audit trail from detection to resolution.
What begins as a small mismatch doesn’t grow into a bottleneck because it’s resolved at the source. Without this level of execution, intercompany accounting remains reactive. With it, the process becomes controlled, predictable and aligned with the demands of modern financial reporting.
Finance Automation is a platform designed to fully resolve this cycle end-to-end. The train won’t stall because underlying manual processes are still waiting for your team to complete them.
Learn more about what happens after the “match” to get your close train back on track.
