Analytics with Finance

Finance Analytics

Alteryx has been a boon to a lot of our clients and managed to reduce their time by one third of their initial manual processes.

Overview:

One of the leading international FMCG Company of the world came up with a business case where there were multiple datasets on financial data involved. The financial data included P&L, Balanced sheet with regional expenses, product wise expenses, profit and loss statements etc. The challenge was to merge all the data together to drill down to the lowest level from different perspectives. The final data mart created had both -the financial analysis reports which in turn was an input to the creation of profitability reports.

Business Challenge or Problem:

  • Multiple data set for more than 10 entities (which are separate from each other) are blended.
  • The P&L is distributed on every product of the different region.
  • The product data are being mapped with the different levels of the KPI’s which are dynamically created from the past data while running the workflow (real time mapping created).
  • In case of new accounts generated ,every month, the data was exported in addition to the reconciliation of both- Product wise and P&L KPI wise reports.
  • The financial analysis data is being created as one of the reports which later is mapped with multiple products, regions distributing the data in percentage of their total profits across the different distributors and calculating the KPI’s – for the P&L statement
  • The biggest challenge is to use the P&L statement to distribute the data into regions, profits and distributors – then create the financial analysis which in turn is manipulated to create the profitability reports.

Working Solution:

As a Consultant, helped the client by providing the right set of data for analysis by creating repeatable workflows on Alteryx combining all the data with the required transformations, aggregate reporting and scheduled workflows monthly.

The Financial reporting and profitability analysis reporting were separately created which is the source to many additional reports.

Two database(yxdb) were created, as per the client requirement,  from the highest level of information to the leaf level. Calculations created to calculate the KPI’s of the P&L Statements, financial reporting and profitability analysis reporting.

Benefits Achieved

One-time investment on creating Alteryx workflows-

  • Reduced the work of three weeks to about 10 minutes. An annual time savings from 2,016 hours to 120 minutes.
  • FTE Savings by 9 employees: Previously 10 employees worked for the completion of the process every month, now only 1 employee does.

Main benefits achieved: Data Process Automation, FTE Savings, Time Savings & On time Report Analysis provided.

Before and After Approach

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