Management Control Scoping: Requirements Definition / Tool Selection

CONTEXT

As part of producing their financial reporting and budget reporting, this insurance group faced two challenges. The first concerned management closing, financial reporting, and financial analysis, for which several issues had been identified: increasingly tight production deadlines, increasingly complex reporting with numerous manual adjustments, a current tool that no longer met business needs (“overuse” of Excel, a non-collaborative tool, etc.).

The second concerned its budget consolidation process, which was entirely performed in Excel and needed to be equipped with tools to streamline, secure, and accelerate data consolidation.

The mission objectives were therefore multiple: implement a collaborative platform; establish simplified, secure, and shortened planning; achieve improved reporting and analytical capabilities; use cloud/real-time technology; maintain agility in implementation to adapt to existing processes.

IMPLEMENTATION

Collection of target requirements (management consolidation package, management P&L, budget preparation and consolidation). Benchmark of application solutions that could meet this need (SAP, Anaplan, Tagetik, Adaptive Insight, Tidemark).

RESULT

Definition of functional mapping of processes to be covered and functionalities required for their execution. Selection of a tool to support the various processes included in the target. Construction of a deployment roadmap (France & International). Estimation of the budget required for implementation and deployment of the solution.