About Elon
Elon has been an established player in Sweden for many years, and in 2019, Euronics in Norway joined the Elon chain. The retail company provides electronic products and services in the consumer market.
Following the transition from Euronics to Elon, the company has implemented several changes and worked strategically to strengthen its brand in the Norwegian market. As part of this initiative, Elon has had a clear goal of becoming a complete home supplier, while also using sports as a strategic platform to increase visibility and strengthen its position in the market.
The collaboration between Elon Norway and ECIT was established in 2024, when Elon needed external support with payroll and accounting. Previously, most of this was handled internally through Elon Finance Services. However, geographical and organisational challenges made it difficult to manage this effectively from Sweden.
When the need for an external partner emerged, ECIT immediately stood out as the ideal choice. The two companies already had an established relationship, and several of ECIT’s current employees had previously held positions at Elon. This insight and familiarity with the business were important factors in the decision.
A Structured Collaboration Model
ECIT currently assists with payroll and accounting for Elon’s stores in Norway. Communication is coordinated among the stores, Elon Finance Services, and ECIT. In this case, ECIT maintains direct contact with each individual store, enabling smooth and efficient follow-up across all locations. At the same time, Elon has an internal finance function that coordinates communication and ensures structure and cooperation between the parties.
This solution has proven to be efficient so far, even though it is still under development. Parts of the onboarding process are still ongoing, and regular follow-up meetings are held to strengthen collaboration and implement new routines.
The Importance of Building Relationships
Hans-Eric Shultz, CEO of Elon Norway, highlights the importance of the people involved in making the collaboration with ECIT a success:
“The contact with ECIT feels both solid and personal, and their understanding of store operations and the Norwegian context makes a big difference for us.”
Shultz further highlights ECIT’s role as a valuable partner during a transformative phase in Elon’s development, recognizing the collaboration as a meaningful opportunity for mutual growth and learning: “We’re in an exciting phase of growth where we are shaping our story, and we’re glad to have ECIT as part of the journey. Their expertise is what we need to succeed”.
A Dedicated Team
ECIT and Elon have implemented a solution that goes beyond simply managing financial operations. It is grounded in mutual understanding, flexibility, and a shared commitment to building a strong foundation for the future.
Marita Andersen, Department Manager for Drammen, Kongsberg, and Notodden at ECIT, elaborates on what works well in the partnership:
“The communication with Elon Finance Services and the store managers works very well, and all parties benefit from using our portal as an efficient tool.”
“Our solid team has the capacity to follow up on all customer enquiries. In addition, we have established routines and efficient workflows within payroll and accounting, with fixed deadlines that contribute to smooth delivery.”
“In addition to payroll and accounting services, ECIT has a dedicated team that has developed an action plan to improve routines and systems for Elon. The team has also held regular meetings with Elon to follow up on the progress.”
The core of the partnership between ECIT and Elon is built on effective communication and strong relationships. Although the partnership is still in its early stages and under development, Elon and ECIT have managed to create a foundation for future growth.