Re-Engineering A European Planning Process
Working for a top tier global bank, our team partnered with their European Finance function to re-engineer and lead the annual budget process.
Our client introduced a new Rolling Operating Plan (ROP) during May, October, and December and found that their European Finance function was struggling to submit high quality, timely reports due, in part, to the complex nature of the bank’s European region. This resulted in the European Finance function gaining a poor reputation amongst Group staff.
Our team was asked to support the management and coordination of the European Finance team May and October ROP process, delivering material improvements in both timeliness and quality.
By collecting data, via a tool called COGNOS, we supported the team to deliver a single source of MI for Europe, enabling value-added insight and analysis to take place and establishing them as a world class European Finance function in the process.
This engagement was part of a broader Strategic Change project across the bank to deliver world class business support through proactive and insightful MI and analysis.
Our client was able to elevate their European planning process to best in class, delivering a high quality product that acted as the benchmark and roadmap for other regions to follow. Financial Systems subsequently deployed our European model, using COGNOS, to all other regions.