Cora Finance Analytics

Cora Finance Analytics is a comprehensive analytics solution for finance professionals. It provides finance teams with strategic, operational, and tactical analytics capabilities to help them make better, faster, and more insightful decisions in an ever-changing world. Built on a robust and scalable data foundation layer, Cora Finance Analytics combines advanced analytics, data science, and industry expertise to improve the quality of decisions and drive better business outcomes. The solution also uses an adaptive *persona-based approach to ensure the right person gets the right insight at the right time. Our solution is platform agnostic, can be cloud-based or implemented locally using any BI platform of choice, and leverages Genpact's vast expertise across a variety of industries, from consumer goods, life sciences, and health care to insurance, banking, and capital markets. Combined with Genpact proprietary frameworks, the solution offers advanced analytics capabilities across the finance ecosystem.

Personas are digital representations of real finance roles

Persona portals offer a consolidated suite of analytics capabilities for each role

Persona examples and capabilities:

• Chief financial officer – access to scenario planning capabilities including strategies on how to balance expenses and drive growth
• Controller – access to near-real-time visibility into close process and how effectively machine learning drives efficiencies during close
• Financial analyst – ability to provide data-driven insights to help executives make informed decisions

Common finance and accounting analytics challenges:

• Poor quality data due to the lack of an integrated analytics platform
• Inefficiencies arising from disparate data sources and non-standard operational reporting across finance functions
• Poor user experience resulting in low productivity and business agility
• Insufficient diagnostic capabilities with zero visibility of data lineage
• Inflexible and non-scalable data pipelines and data architectures
• Limited proactive analytics and planning capabilities

Why Cora Finance Analytics

Centralized information: Cora Finance Analytics provides businesses with a foundation to centralize data to support end-to-end analytics

Enhanced decision-making: The persona-based model allows finance professionals to access tailored recommendations and identify actionable opportunities to help them succeed. The forward-looking scenario analysis embedded in a guided-analytics framework helps drive informed decisions in a structured manner

Improved governance: The centralization of information and persona-based model underpins the rationalization of metrics, reporting, and analytics across the organization for improved data governance

Before Cora Finance Analytics, answering diagnostic questions such as "Why is the revenue trend different for a specific period?" and predictive questions such as "How will this financial decision impact corporate strategy?" required multiple teams, dozens of reports, and many days to answer.

Architecture

Cora Finance Analytics takes a guided approach to analytics by walking users through layers of information in a structured manner, similar to how a seasoned business analyst approaches an analysis. This includes a visual exploration of 'what' is happening, to 'what it means' to the business, and 'what's next' in terms of recommended actions.

The solution consolidates relevant and common data elements required to calculate business metrics (key performance indicators, customer performance indicators, and key results indicators) and runs advanced analytics. This data is then transformed using approved methodologies into understandable and actionable metrics. A curated metric library helps further refine and model the information to support different personas – all leading to effective data-driven decision-making in even the most complex organizations.

The entire solution can be hosted on Genpact cloud, or any client cloud, or set up as a traditional non-cloud solution.

Whatever question the finance team needs to answer, each layer provides an in-depth view with visuals, detailed analysis, and commentaries.

1. Scenario planning and advanced analytics capabilities lead to data-driven decisions

2. Intuitive delivery mechanism within persona portals enhance human judgment

3. The business information layer institutionalizes and enhances distributed business knowledge, offering a central platform for effective analytics

4. Informatics (data sourcing, prepping, cleansing, and storing) built into the data foundation supports efficient and high-quality operational reporting

Case study

We helped a global pharmaceutical company improve visibility of operational metrics and standardize reporting for procure to pay, order to cash and record to report processes. A unified data model, data pipelines to source data from multiple ERPs and systems of engagement (SOEs), and an operations dashboard to fulfill information needs of multiple personas, were created in the cloud. The company now has near-real-time visibility of 80 process and business metrics at an enterprise level. It also has the ability to drilldown to 70+ legal entities and each of the 240 countries it operates in, and slice and dice the data across multiple dimensions.