The transformation of data into meaningful insights allowed management to identify and evaluate next business move and achieve 29% cost reduction and significant process improvements.
- There was no formal mechanism for monitoring key performance metrics and forecasting resource requirements which resulted in low visibility into the effectiveness of resource utilization and an impediment to planning.
- The client had weak prioritization of its objectives and business processes thereby failing to determine what information was pertinent for effective and efficient management.
With the involvement of process owners and report users, ERG performed an edge-to-edge review of data resources, management and reporting processes to develop a financial monitoring tool that drove:
- Data-driven decision-making
- Better insight into operating results using dashboard of key performance indicators and analytics
- Improved asset planning utilizing proven predictive analysis methodology
- Redesign of processes resulted in substantial reduction in manual effort and a significantly shortened month-end closing.