Financial Planning & Reporting for Transportation

One of the largest U.S. shipping companies executed a series of mergers and acquisitions across east and west coasts. The CFO quickly needed timely integrated reporting and analysis, as well as robust performance management capabilities for business leaders to manage/optimize their business units. However, the newly merged company had several financial transaction systems, manual Excel-based budgeting/planning processes, redundant reporting systems, thousands of reports, and a wide range of reporting needs across financial planning, accounting and field financial analyst groups.

InsightSPI aligned all of these requirements and rapidly delivered a comprehensive reporting platform along with an integrated financial planning/budgeting/forecasting capability. The solution included a data architecture that provides a single source of financial data and a baseline for an evolving data management platform beyond financial data and across the business. Additionally, InsightSPI delivered a solution that met business requirements, leveraged the company’s existing tools, and aligned with IT operations/strategy.

Challenges:

  • Several financial transaction/ERP systems with many instances
  • Thousands of financial reports
  • Wide range of dynamic, static and analytical reporting needs across financial analysts and accounting
  • Excel-based process for planning, budgeting, forecasting that did not scale
  • Disparate and “lagging” view of financial performance

Results:

  • Information delivery to all financial users through a standard set of reporting tools
  • Rationalized role-based reporting and analytics
  • Agile and scalable planning, forecasting and financial performance management across the business
  • Enterprise single-source data architecture for financial data
  • Enterprise data management strategy and architecture to integrate data beyond finance e.g. operations, CRM
  • Timely financial planning, reporting and analysis to support fact-based decision making and optimize financial performance

 

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