Enhancing Financial Reporting for One of the Largest Banks
Industry
Financial Services
Company Overview
One of the largest banks in Canada, this institution offers a range of financial products and services, including mortgages, Visa cards, deposits, and retail credit services across the country. The bank sought to implement SAP Bank Analyzer and AFI to enhance financial reporting and integration.
Client's Challenge:
- Multiple Data Sources: Issues with loans and deposits data from multiple sources requiring additional reconciliations.
- Manual Processes: Current manual processes for calculating interest rates and generating cash flow statements were prone to errors and inefficiencies.
- Data Integration Complexity: Integrating data for finance, treasury, and risk was challenging, impacting forecasting and planning.
Why 2iSolutions and SAP Bank Analyzer?
2iSolutions, with expertise in SAP Bank Analyzer and AFI implementations, was chosen to streamline the bank's financial reporting processes. Our experience in handling complex data integrations and improving financial reporting efficiency made us the ideal partner.
Solution Implemented:
- Comprehensive Data Integration: Implemented a simple architecture to load data from the bank's source systems to SAP Bank Analyzer and back to the reporting system.
- Automation of Data Load: Automated data load processes to improve timeliness and efficiency of reporting.
- Single Source for Finance, Treasury, and Risk: Created a unified source for critical financial data, enhancing forecasting and planning capabilities.
Results Achieved:
- Improved Data Accuracy: Automated processes reduced manual errors and improved data accuracy.
- Enhanced Reporting Efficiency: Automation of data load and reporting processes improved efficiency and timeliness.
- Cost Savings: Reduced manual effort and improved resource allocation led to significant cost savings.
Efficiency Gains:
- 85% reduction in manual processes: Automated data load and reporting processes significantly reduced manual effort.
- Improved decision-making: Integrated data provided a comprehensive view, enhancing strategic financial planning.
