Case study

Reporting that generates real insights at a major Australian bank

And a more productive enterprise process management team

Who we worked with

One of Australia’s biggest finance, insurance, and banking corporations.

What the company needed

To shorten time to report and improve productivity by streamlining reporting processes and using better business intelligence tools.

How we helped

We put our Smart Enterprise Processes framework to work to diagnose and redesign the enterprise performance management process, simplify reporting, and create a virtual business intelligence setup for faster access to more accurate data.

What the company got

Agility. Fresh business insights. And a more productive enterprise performance management (EPM) team.

Challenge

Standardize the way teams work. Get the most out of business intelligence platforms.

This company had too many manual processes with multiple touch points. As a result, the EPM team spent nearly three-quarters of its efforts collating data and creating reports, leaving little time for analysis. Reporting formats were all over the map and hard to trace — and there was no connectivity between the company’s Cognos BI and Oracle General Ledger systems, resulting in too many iterations and versions of the same reports. And with all the ad hoc reporting requests the team was getting, it didn’t have time to provide insights about the business.

Solution

Put business outcomes in a whole, new context

We used our Smart Enterprise Processes framework, which combines process design and execution, analytics, and technologies to reimagine business outcomes. This unique solution helped standardize reporting and created a virtual business intelligence setup that integrated the company’s data sources.
Here’s what our proprietary framework did:

It analyzed 11 executive general management areas to map processes end to end
It used diagnostics to assess more than 90 management reports for analytical features, visual appeal, and other parameters
It analyzed over 60 standard operating procedures corresponding to the management reports
It benchmarked and redesigned the current EPM process against best-in-class standards
It standardized templates for management reporting
It identified and incorporated parameters for regular and ad hoc reports based on stakeholders needs
It integrated Cognos BI reporting platform with Oracle GL to provide seamless drill-down-and-up functionality

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Impact

A company quick to respond to the market with all the information it needs right at hand.

We helped the firm realize:

An 18% improvement in efficiency and shorter time turning data into insights
A 44% reduction in ad hoc reporting
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

Now the newly agile company is making more informed decisions, and its EPM team is a true business partner. The solution worked so well that the firm is replicating this new way of standardizing management reporting processes for additional lines of business.