Financial Governance Solution Integrated Powerful and Customized Reporting Capabilities

Financial Governance Solution Integrated Powerful and Customized Reporting Capabilities

Overview

This company is a leading financial governance solution provider across the globe. They are helping their customers in managing and automating the complete Record to Report cycle, spanning account reconciliation, journal entry, compliance and reporting activities. They are serving more than 3500 clients across 100 countries with a user base of more than 2,75,000.

The company was looking to integrate a BI platform into their bestselling compliance application to enhance the product’s reporting and analytics capabilities. They were looking for advanced customizations that required high-level architectural changes.

They also wanted to migrate one of their modules from Jasper to a more scalable and customizable solution. The Jasper based solution needed constant coding efforts to be customized and hence proved difficult to scale. This also did not have a scheduler feature and automatic report delivery mechanism.

Business Challenges and Requirements

The company wanted single sign-on integration of a BI platform into their application to perform reporting over all the modules. The objective was to provide a single source of truth to their customers with a holistic view of their financial operations.

To perform secure financial reporting, they were looking for a module-based authentication system which could make reports visible to users based on their role and department/module.

They also wanted to migrate one of their modules to Intellicus that was currently integrated to Jasper. In this module, they had more than 30 complex reports.  Due to limitations in Jasper, it was difficult to customize the reports and create schedules. The whole process was complex and extremely time-consuming for business users.

The Jasper solution had a predefined report run flow. In this flow, users had to customize and manually save the parameter values and then create a report delivery schedule. The organization wanted to simplify as well as automate this process.

Apart from basic BI requirements, the company was looking for some advanced additions, like:

• Automated dynamic addition of the latest transactional fields as in the databases, while running reports.
• Ability to perform branch-wise, account-wise grouping at run time
• Multilingual report formats based on their users’ geography
• Automated mass delivery of reports with custom parameters to multiple recipients at once
• Amount variance notifications and alerts to account owners via email
• Support of multi-currency

Intellicus Solution

Intellicus has modernized their analytics capabilities, at the same time simplified the overall process.

Secure Integration

Intellicus enabled a module-based authentication mechanism so as only relevant reports get visible to specific users. It created a seamless and secure architecture for authentication and user management with single sign-on. The users find this consistent flow quite engaging and easy to follow.

Analytics Workload Migration to Intellicus

Using Intellicus, their users can instantly run the reports or schedule them to run at a prescribed time. Users can schedule the reports for categories like group levels, accounts, locations etc. High-level customizations were made to the report scheduling feature to achieve this. Their reports usually have between 30 to 60 parameters. With saved parameter feature, their users can persist these parameters and simply apply a saved parameter each time they generate a similar report.

Customized Reporting

Dynamic addition of fields at runtime helps the users to view the latest fields as in the databases. Intellicus has provided a combination of report templates so that end users can add additional transaction fields at run time. These fields can be varying from 1 to 60. Intellicus intelligently manages the sequencing and ordering of these fields. Using the dynamic fields grouping, users can summarize the data at different fields levels while running the reports.

Multi-currency, Locale, and Alerts

Users can assess account reports in the currency of their choosing. Currency conversions are automated. Users can access reports in local languages based on their geography. Intellicus supports more than 30 international languages. A user in France can access the report in French at the same time a user in the United States has Spanish or English as their base locale. The system now has automated variance alerts to notify the account owners on amount variations and associated changes in real-time so as they can track their accounts, timely.