Challenge
A lengthy financial forecasting process impacted our client’s ability to respond quickly to management’s business needs. Their skilled analysts labored — collecting forecasts from other departments, layering in newly available actual data, and relying on trial and error — to target key business objectives, such as determining a capitalization forecast that would satisfy regulatory constraints.
Solution
- UI Solutions Group's Financial Module integrated with the client’s ERP and plant accounting systems to automate the actualization process.
- The system's browser-based data interface enabled other departments to directly enter their forecast data, freeing financial analysts from data collection tasks.
- The system’s fast processing engine and powerful iterative goal-seeking logic allowed for automated financing and convergence of regulatory constraints.
Impact
A much faster and automated monthly forecasting process allowed the team to spend more time analyzing drivers and improving their forecast, and less time on manual data management.
