How Do You Create an Actionable Analytics Roadmap

How Do You Create an Actionable Analytics Roadmap

Business Challenge:

In a highly competitive consumer durables industry, the finance organization of this industry leader was struggling with poor access to adequate & reliable information, and inefficient processes widely believed internally to lead to poor business decisions causing a negative impact to both top line as well as bottom line. There was limited integration between planning and reporting, tools were unfriendly and users had little knowledge of where to find the information they needed. These factors resulted in frustrated users and executives and were known to be significant factors in employee attrition. 

TekLink’s Solution:

TekLink performed a functional and technical assessment, interviewed finance and IT executives from region and corporate, understood business priorities and pain-points and analyzed current process, technical, architectural and organizational limitations that impeded their abilities. TekLink proposed a comprehensive planning & analytics solutions roadmap to enable quick wins, build organizational capabilities and introduce tools and solutions to help reach the desired end-state along with associated governance and knowledge management processes. Multiple perspectives, such as technical, process, organizational, cultural were taken into account in putting forth the recommendations. Relevant pre-requisites and process changes for various areas such as master data management and governance, capital planning process, promotion management, etc. were recommended alongside new technology recommendations to help maximize return on investment from such new technologies and solutions. TekLink also provided a comprehensive approach to building knowledge management process and a Global Business Intelligence Center of Excellence.

The Result:

The client embarked on foundational recommendations such as building knowledge management capabilities, establishing processes and governance to remove redundancies and improve user awareness, organizational readiness activities, process improvements besides introducing user-friendly tools and dashboards to the analysts & executives. TekLink implemented global consolidations resulting in significant benefits to the finance organization – reporting is user managed, analysts are empowered and less reliant on IT, tool adoption expanded dramatically thereby eliminating ‘key-user risk’ as it was before, reports & processes are uniform across regions and geared towards a faster close and improved consistency and visibility into financial metrics besides setting a strong foundation to integrate planning with actual for the future. Subsequent recommendations from the analytics roadmap continue to be implemented, contributing directly and indirectly to improve the company’s financial performance.

 

 

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