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2 min read

Banking Conglomerate Automates Revenue Reporting Processes

 

The North American branch of this global banking conglomerate offers a variety of services to its customers. However, with the constant growth of its offerings, a data management platform was needed to better track revenue.

Automation and Consistent Reporting
Our banking customer has grown into a conglomerate with a global network of financial and business centers servicing both individual and corporate customers.

The customer’s North American branch was hampered with inconsistencies in management reporting on product revenue, department finances, customer information, transaction cashflow, as well as challenges pertaining to data governance, data ownership, and a lack of automation in the company’s reporting process.

Several disparate sources hosted the company’s data. Specifically, our customer retrieved client data from Salesforce. Data was stored in 17 diverse and unstructured Microsoft Excel files that contained multiple pie charts and graphs from different owners in different departments. The numbers in the Excel files would frequently fluctuate, and it was hard to track how occasional data misalignment issues occurred. Each of the files contained different formatting, and no single person owned the process, which resulted in frequent inconsistencies. When a new product was created, our customer would simply create a new spreadsheet for it. The challenge was to take this structured and unstructured data estate from different Microsoft Excel files and Salesforce and aggregate it into one meaningful view.

Consolidating Data For One Version of the Truth
TimeXtender’s data management platform was carefully chosen as the solution to transform the bank’s analytical environment to help improve consistency in product revenue reporting. With Axis Group’s support, implementing TimeXtender allows the bank to connect and consolidate its structured and unstructured data, catalog, model, move, and report on the full lifecycle of data – in a single application that supports core analytics, compliance and a modern data warehouse. Since access to this data is vital for day-to-day banking operations, our customer hosts their solution on Microsoft SQL Server Enterprise Edition.

Simplifying Data Management
With the implementation of TimeXtender for the bank’s data architecture needs, Axis Group was able to complete a data overhaul, quickly and securely. Formerly five people spent 40 hours per month on the management of the entire process, including collecting spreadsheets and processing them for report outputs – now, the entire process is automated. The bank can now reallocate those five people to other parts of the organization. Further, when a new manager joins the team, the bank can provide them with TimeXtender documentation that clearly shows where the source data is coming from.

With the power of automation and AI technologies, our customer now has access to a more streamlined, simplified data management solution and is well positioned for future migration to the cloud.