The client is a leading global financial services firm that provides a wide range of financial products and services to a large and diversified group of clients such as corporations, financial institutions, governments and individuals.
Empowering Business Intelligence Solutions
The client has recently undergone several strategic acquisitions and reorganizations in order to maximize growth opportunities and realize synergies across the organization.
As a result of the organizational changes, the client realized it was plagued by inefficient processes that made operational reporting inconsistent across divisions and difficult to manage.
The consolidation of data from multiple business units and systems resulted in data integrity issues that prevented transparent and accurate reporting. The existing technology also did not have the flexibility for timely business intelligence-based reporting across rapidly changing business units.
Traxion Group's Impact
Traxion Group was engaged to complete an assessment of existing tools and processes and to execute a vision of future state. During this assessment, Traxion determined that many of the client’s pain points were due to inefficient processes and outdated technology.
To remedy the problems, Traxion focused on aligning a flexible business intelligence platform across the organization. One of the major challenges was that each of the divisions defined its own metrics and thresholds for what was positive and negative, while also maintaining different standards for distribution. As part of the initiative, Traxion brought the disparate divisions together, facilitating healthy and spirited debates to find common grounds.
Through Traxion’s facilitation, metrics were standardized across all divisions with mutual agreement achieved from all stakeholders. For tool selection, a survey of current tools was conducted and then evaluated based on their alignment with the client’s strategies. A week long on-site proof-of-concept (POC) program followed, wherein stakeholders from the various divisions were able to pilot these tools and provide feedback. As a result of the program, a Business Intelligence platform solution was identified that would provide the ability to scale reporting appropriately and react dynamically with business changes while delivering cost savings through process efficiencies. Traxion implemented and developed this suite, which provides the following business benefits:
- Provides intelligence on the client’s business processes and execution of organizational change initiatives which drives strategic, tactical, & operational-level decision making
- Merges disparate and complex datasets to provide unique insights
- Establishes an authoritative data source to uphold honest and accurate reporting
- Standardizes common metrics and calculation logic to define a universal set of KPIs represented on balanced scorecard
- Allows organizations to focus on business action instead of reporting and data integrity issues