Finance teams are under pressure to deliver more output in a reducing timeframe for both management and external reporting. We help Finance Teams replace manual data preparation activities with value add business support capabilities - helping them achieve world class performance.
Report preparation required users to manipulate data extracts from the ledger. This time consuming and poorly controlled process was replaced by a responsive and flexible reporting layer, fully integrated into the clients IT architecture and control environment, that enabled users to query, analyse, and report data in a timely and efficient manner.
With near real-time updates to the data mart users had easy access to a tool that provided fast and responsive analysis and reporting capability. Data is available for easy ad hoc analysis using Excel pivot tables with drill-through to transaction level detail.User configurableor fixed format reports are prepared using SQL Server Reporting Services.
The existing data intensive expense allocation process didn't provide the flexibility and responsiveness required.
Our allocation enginenow provides the Finance Team with the ability to easily update allocation rules to reflect business changes. This providesthe budgeting team with a powerful tool to model scenarios with full version control; and the actuals process can run multiple versions of the expense allocations during the period end. Full integration with the reporting tools allows users to query and analyse the data at all stages of the process. Version control, audit history, and data validations were deployed as standard.
The Finance process depended on a series of ad hoc databases and spreadsheets to prepare data for posting the general ledger, resulting in process delays and a number of control issues. We deployed a calculation engine to replace the ad hoc spreadsheets and databases used to prepare data for posting to the general ledger. This reduced the time taken to complete the period end process and enhance control. In addition to handling the import of data and calculation rules from multiple sources, the engine performs real-time and scheduled calculations including earnings, IBNR, claims handling expense, and FX revaluations.