Neve Transformed Its Integrated Data Balance Sheet into a Strategic Management Tool

How a Rovaniemi-based energy and network services group revamped its Integrated Data Balance Sheet using Functos' integrated methodology and turned data into visible management capital. The role of data in value creation is at the heart of management — without forgetting compliance and risk management.

The starting point: when the first Integrated Data Balance Sheet didn't tell the most important story

Neve is an energy and infrastructure services group owned by the City of Rovaniemi that provides critical services ranging from energy production to district heating, from electricity transmission to fiber-optic services, as well as water and infrastructure services.

At Neve, Integrated Data Balance Sheet thinking was launched a few years ago, as the importance of data and data-driven management in the energy sector began to grow rapidly. Neve had also prepared its first informal internal Integrated Data Balance Sheet. It compiled individual aspects of data management and digital operations, as well as a description of the maturity of data-driven management, but it still left out the most important part: how data and data-driven management create value and how they are managed as a strategic resource at Neve.

On the cusp of a new strategic period, Neve wanted to take its Integrated Data Balance Sheet to the next level and increase its impact on building data capabilities and Neve's strategic management.

"The energy transition, changing customer expectations, and technological advancements are creating demands that cannot be met competitively without advanced data capabilities. These forces of change are guiding Neve's strategic choices."

Hannu Vaara, Head of Digital Business, Neve

Solution: Integrated Data Balance Sheet and the data balance sheet model

What does a data balance sheet mean in practice?

Functos brought to the collaboration a comprehensive Integrated Data Balance Sheet methodology, at the core of which is the data balance sheet — a model that, like a financial balance sheet, distinguishes between data assets and data capital.

Data assets are services, products, and processes produced using data capital, whose value stems from the direct or indirect benefits they generate for the company and its stakeholders. Data capital consists of the company's internal and external data, whose value drivers are data quality, availability, and usability.

Functos' seven-level value creation model

Integrated Data Balance Sheet value creation management is based on seven levels: (1) data strategy and value creation model, (2) data and AI governance models, (3) enterprise architecture and technology choices, (4) capabilities and data culture, (5) security and risk management, (6) compliance, and (7) data accountability and AI ethics.

Neve wanted to own the Integrated Data Balance Sheet process itself, but needed both a proven methodology and production support. Functos was responsible for two key components: first, a customized reporting manual was created for Neve, outlining a repeatable structure, content requirements, and preparation guidelines. Following this, Functos supported Neve's work as a collaborative partner and handled the production of the Integrated Data Balance Sheet in accordance with the manual's requirements. The process began in the fall of 2025, and the Integrated Data Balance Sheet was published in April 2026.

Results: three concrete deliverables

The collaboration produced three concrete deliverables with a long-lasting impact:

Integrated Data Balance Sheet Reporting Manual: The manual includes a structure with subheadings, prioritized content requirements, template frameworks, and writing guidelines. Thanks to this, the Integrated Data Balance Sheet can be reproduced at Neve in future years without external support.

First Full-Scale Integrated Data Balance Sheet: Neve produced its first standardized, strategic-level Integrated Data Balance Sheet. The report covers five key areas: digital strategy and data capabilities, data capital and data governance, data protection, cybersecurity and regulation, and the path forward. It supports internal management and the development of a data culture, as well as stakeholder communication with the owner, authorities, and partners when necessary.

A common foundation for continuous development: The Integrated Data Balance Sheetprocess created a lasting foundation for the success of Neve's data governance. It established a shared understanding across the entire group regarding the current state, objectives, and key development areas of capabilities related to data and data-driven management. This common foundation enables the active and systematic development of a data culture across the group, from business operations to the executive team.

"Developing data-driven management and data capabilities is, at its core, about developing people and organizational culture. Technological solutions create the conditions for operations, but real change comes from everyday practices."

Hannu Vaara, Head of Digital Business, Neve

The Integrated Data Balance Sheet also highlighted the results already achieved on Neve's data journey: customer NPS rose by 5 points to 49, the volume of data in data warehouses grew by 47%, and data-driven management maturity advanced across the group (+8%), most strongly in energy production (+24%).

The Integrated Data Balance Sheet advances Neve's digital journey

Neve is moving forward with its digital roadmap in concrete terms: in 2026, a data lake, a broader range of data products, and Copilot will be launched; in 2027, financial forecasting will be automated and the digital twin for energy production will be launched; in 2028, ERP will be fully integrated and AI products will generate measurable business value.

The Integrated Data Balance Sheet 2025 provides a strong foundation for this work. Going forward, reporting may evolve in various forms, internally or externally, depending on stakeholder expectations and strategic management needs. Neve has built a foundation from which data-driven management, artificial intelligence, and other technologies, as well as Neve's data culture, can be developed purposefully toward the new decade.