Case Study

More incisive reporting and decision-making with 18% productivity gains in EPM

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Client: An Australian finance, insurance, and banking corporation

Business need addressed: Fragmented management reporting processes and poor use of business intelligence tools, leading to longer time to report and increase time spent on nonvalue added activities

Genpact solution: Leveraged the Smart Enterprise Processes (SEPSM) framework to diagnose and redesign the Enterprise performance management (EPM) process, simplified reporting, and created a virtual business intelligence framework to provide fast access to more accurate data

Business impact:

  • 18% efficiency and faster data to insights
  • 44% fewer ad hoc reports
  • Faster, more informed decision-making and increased agility
  • 50% less time spent on data collection giving finance teams more time to focus on identifying actionable insights

The enterprise performance management (EPM) team at a financial corporation was hampered by fragmented management reporting processes and an under-used business intelligence platform.

By standardizing the way the team worked and bringing in self-service reporting, Genpact helped increase efficiency gains by 18%, reduced the number of ad hoc reports by 44%, and reduced the time spent gathering and integrating data by 50%. This enabled more informed decision-making and greater agility for the organization.

Business challenge

Manual processes with multiple touch points meant that the company’s EPM staff spent 73% of its effort collating data and creating reports, and only 27% on analysis. Inconsistent reporting formats and low traceability, coupled with a lack of connectivity between the company’s Cognos BI and Oracle General Ledger systems, contributed to multiple iterations. And with additional ad hoc reporting requests, the EPM team had little time to focus on analysis or providing performance insights to the business.

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Genpact solution

Genpact used its proprietary SEPSM framework, which combines process design and execution, analytics, and technologies to re-imagine business outcomes. This unique framework helped to standardize reporting and created virtual BI to integrate the company’s data sources.

This included:

  • Analyzing 11 executive general management areas to map processes end to end
  • Using SEPSM diagnostics to assess more than 90 management reports for analytical features, visual appeal, and other parameters
  • Analyzing over 60 standard operating procedures corresponding to the management reports
  • Benchmarking and redesigning the current EPM process against best-in-class standards
  • Standardizing templates for management reporting
  • Identifying and incorporating parameters for regular and ad hoc reports based on stakeholders’ analytical needs
  • Integrated Cognos BI reporting platform with Oracle GL to provide seamless drill-down/up functionality

Business impact

By working with Genpact to transform enterprise performance management, the financial company delivered:

  • 18% efficiency gains and faster data-to-insight
  • 44% fewer ad hoc reports
  • 50% less time spent on data collection giving finance teams more time to focus on identifying actionable insights
  • 82% fewer reporting formats and templates

This approach allowed the business to make more informed decisions, be more agile, and act as a true business partner. The company then replicated this new way of working as standard management reporting process for additional business lines.

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