Profitability and Cost Management Solution for a Financial Services Company
Business Challenge
The Client asked SoftServe to develop a comprehensive cost management tool that satisfies market and consumers demand to optimize costs and expenses and replaces an old legacy system.
Project Description
The designed tool uses an activity-based costing methodology. The solution focuses mainly on big enterprises, where it is particularly difficult to identify the most and the least profitable areas of business and analyze their root causes. The designed solution provides a possibility to effectively identify, manage, and improve the detrimental elements of a business and make it prosper.
Benefits provided by the tool include but are not limited to:
- Flexible business modeling
- Unlimited dimensions and transaction volumes
- Single, unified model
- Integration into various data sources
- Easy Excel and web-based access
- Enterprise level security, traceback, and audit
- Ad-hoc and pre-built reporting and analytics
- Multicurrency and multilanguage support
- Multiple model versions, scenarios, and time periods
Value Delivered
The solution developed by SoftServe allows customers review the operating profits for all dimensions of their business in one single model and immediately identify which of their customers, products, or services lose m oney and where. Moreover, it appears to be a deep dive into the predictive analytics, scenario modeling, and simulation (what-if capabilities). The process modeling, data integration, calculation engine, and reporting are all integrated into a complete solution that can help lead business to success and prosperity.