Challenge
Our client’s leadership demanded a rolling forecast to provide more accurate guidance to financial markets and enable operations to make more informed decisions.
Solution
- Our Budgeting solution captured their business rules and offline spreadsheets in an online collaborative workspace, reducing the need for manual analyst interaction during the reforecasting process.
- UI Solutions Group's enterprise integration layer pulled in data from other systems, eliminating data entry tasks.
- The Rules Engine transformed imported work-planning assumptions into the required accounting format and automated the application of labor pricing, loadings, and allocation rules.
Impact
The utility was able to automate most of the monthly reforecast effort and shift low-value clerical time to high-value analytical time. In the process, they reduced the time and cost associated with developing the annual budget, improved the accuracy of the budget/forecast, and achieved the rolling forecast objective.
