Customer story
Luminor Bank needed an activity-based costing solution that captured all costs in all dimensions at a granular level to improve management decision-making with complete transparency.
COMPANY
Luminor Bank AS
the third-largest retail bank in the Baltics
HEADQUARTERS
Tallinn, Estonia
EMPLOYEES
3000
WEBSITE
www.luminor.ee
INDUSTRY
Banking
PRODUCTS & SERVICES
Retail and Wholesale Banking Products
Activity-based costing model was required by Luminor’s executive management team to gain detailed cost transparency in granular dimensions, including product and segment. We appreciate msg global’s support in delivering a high quality project with a challenging timeframe.
Rait Maasikas
Head of Performance Management & Insight Department at Luminor Bank AS
What was accomplished
Our industry-focused teams specialize in understanding specific business needs to shape solutions that create efficiencies and power performance. We speak your language, and our deep industry experience provides the best framework for delivering action-oriented results that fit your operational needs.
SOLUTION
SAP Profitability and Performance Management (PaPM)
- Flexible and intuitive interface for activity-based cost modelling.
- Fully integrated with the existing architecture to improve the data flow.
- Easy to manage by the finance and controlling users with minimum IT involvement.
CHALLENGES
Modernizing Activity-based Costing
- Existing activity-based costing system lacked flexibility and multi-dimensional views.
- Create an efficient process to support product and pricing decisions.
- Develop dimensional cost for granular analytics.
- Produce precision in profitability measurements and pricing.
BENEFITS
Explore. Implement. Report.
- Transparency in analyzing complex cost allocation and tracing results back to cost origin.
- Efficient assessment and understanding of activities for cost optimization and competitive advantages.
- Generate process and cost comparisons across countries for better alignment.
Why msg global
Operating from offices across the globe, our expert teams help clients achieve operational efficiency and improve decision-making capabilities.
Project delivery as promised
On-Time and On-Budget
Team performance
A passionate team made success possible
Project management
Cooperative partnership, reliable and trustworthy
msg global supporting Luminor
We bring expertise, a customer-centric philosophy, and a focus on innovation to everything we do.
Global experts
SAP PaPM activity-based costing solutions development and implementation.
Strategic consulting
Focus on long-term success and a cooperative partnership.
Digital transformation
Passionate about the solution, eager to share knowledge and improve processes.