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Fast access to reliable data enables front-line decision making

The Situation

The company needed to move from inefficient Excel reporting because it does not sufficiently support decision-making in a modern, data-driven organisation.

The Task

Find an online solution that would support access to real-time data.

The Action / Approach

It was decided to use a Business Intelligence to allow decision makers access to an excellent decision making tool;

  • Flexibility of new system allows decision makers to generate wider range of data-driven insights
  • Decision makers have a clearer route to financial sustainability
  • Streamlined, effective and mapped processes with improvement plans
  • Ability to adopt and get value from (modern) technology
  • Robust financial control framework
  • Faster and more accurate finance reporting
  • Improved finance organisation and operating model; finance function is more effective and costs less
  • Finance will act as business partners much more

The Result

The results from this system allowed the company to become more competitive because decisions took minutes not weeks;

  • Meaningful and actionable KPIs and metrics increased focus on RAG ratings
  • Enhanced ability to drive financial returns, cashflow and sustainability increased profit margins by 5%
  • Becoming true business partner(s) to CEO and across the business
  • Time and resources to drive strategic topics and projects which increased competitiveness by 10%
  • Fast access to reliable data to enable front-line decision making
  • Best in class cost and service efficiency
  • Rapid adoption of new technologies
  • Attract, develop and retain quality staff

Pains relieved included;

  • Finance function under a lot of pressure from operational tasks
  • Unable to maintain steady cash flow and control costs
  • Inefficient or non-standard processes
  • Fast growth / volatility causing significant stress
  • Complex and changing government regulations across multiple jurisdictions
  • Unexpected breaches of data security and integrity
  • Contentious stakeholder relations and/or lack of board confidence absorb excessive amounts of direct personal time
  • Lack of the right resource for projects to improve performance
  • Unable to produce accurate timely reports

Focus In On: Responsible for Finance / CFO

New Areas of Value:

Fast access to reliable data to enable front-line decision making

Improved Forecasting / Predictive Insights / Budgeting

Meaningful and actionable KPIs and metrics

Enhanced ability to drive financial returns, cashflow and sustainability

Becoming true business partner(s) to CEO and across the business

Compliance and data quality is right first time, on time, every time

Quality, speed and savings from optimisation and automation of finance processes

Best in class cost and service efficiency

Time and resources to drive strategic topics and projects

Rapid adoption of new technologies

Improved resilience and workload management across finance team

Attract, develop and retain quality staff

Improvements around:

Finance function under a lot of pressure from operational tasks

Unable to maintain steady cash flow and control costs

Inefficient or non-standard processes

Fast growth / volatility causing significant stress

Complex and changing government regulations across multiple jurisdictions

Unexpected breaches of data security and integrity

Contentious stakeholder relations and/or lack of board confidence absorb excessive amounts of direct personal time

Arguing over data quality instead of supporting data driven decisions

Not acting as a business partner due to lack of involvement in key decision making

Lack of the right resource for projects to improve performance

Unable to produce accurate timely reports

Knowledge attrition due to staff turnover

Relevant Skills

Practice