Financial transformation is more than devising new ways to collect and analyze data. It is about seeing the future and determining how to get there. Seeing beyond the current constraints and deciding how to derive better business outcomes. Innovative, forward thinking is required for true transformation. And successful companies start with an open mind and build toward integration with future technology.
Financial transformation projects — no matter the size or scope — flounder, or worse, limp along without executive sponsorship. This means empowering people to be innovative, including supporting their decisions, removing barriers to success, and supplying appropriate resources throughout the project.
Is it time to re-evaluate your financial operations?
Top 10 Reasons to Re-evaluate Your Financial System
1
Large Data Volumes Slow Down the Current System
1
Large Data Volumes Slow Down the Current System
Streamline data collection and consolidation, and use automated workflows to eliminate redundancy, improve accuracy, and increase efficiency.
2
Data Model Requires Expansion
2
Data Model Requires Expansion
Put modeling in the data model to enable rapid conversions & implementations, to create POCs for complex products, and to interface with portals and mobile apps.
3
Overall System Performance Is Poor
3
Overall System Performance Is Poor
If your system was designed for change-averse users, it's time to change your focus. Manage your users when you change your system, you'll get more productivity from both.
4
Too Much Time Is Spent Entering Data and Fixing Problems
4
Too Much Time Is Spent Entering Data and Fixing Problems
When in doubt, centralize. With a single, integrated platform, less time is spent, fewer problems occur, and life gets easier.
5
Greater Control of the Data Going into the Ledger Is Needed
5
Greater Control of the Data Going into the Ledger Is Needed
The centralized data repository lets everyone collaborate in real time, ensuring appropriate care and feeding of the ledger.
6
Access to Real-time Data Is Limited or Unreliable
6
Access to Real-time Data Is Limited or Unreliable
This is the 21st century. Access to real-time data should be a given. If users aren't working with data in real time, this is your single most important reason to talk to us.
7
Improved Reporting Requires a Streamlined Ledger
7
Improved Reporting Requires a Streamlined Ledger
Working on an integrated platform with a central data repository enables canned and ad hoc reporting, even as it ensures the transparency regulatory bodies require.
8
Close Times Are Too Long
8
Close Times Are Too Long
A platform that includes a standardization repository provides a reusable inventory of product aspects that can be assembled and distributed quickly and efficiently.
9
A Better Foundation Is Needed for Integration with Other Systems
9
A Better Foundation Is Needed for Integration with Other Systems
We’ll connect your data sources to ensure the effectiveness of your integrations, the quality of your data, and the efficiency of your operations.
10
The Company Has Outgrown Its Current Systems
10
The Company Has Outgrown Its Current Systems
You need a single, integrated platform to replace your disconnected legacy systems, to streamline processes, and centralize your product histories and components.
Are you ready to map out a new future? We can help you find your way.
Maintain and execute complex allocations to create the data foundation for flexible, near real-time profitability analysis.
Pre-configured analytics model for insurance source and results data, including data models for IFRS 17 & Solvency II regulatory compliance.
Planning, Budgeting, Forecasting, and Financial Consolidation capabilities in a single application.
Business platform sub ledger supporting insurance and reinsurance Collections and Disbursements.
Comprehensive financial management and accounting solution with real-time reporting, analytics, prediction and simulation.
- What are your objectives?
- What are the impediments to achieving them?
- Are they technical? Operational? Intellectual?
- Do you need help identifying the impediments?
- What would it take to get to the point of achieving your objectives consistently?
Maryan Karpyk
Community Lead Finance & Risk