Our experience in the financial industry has spanned the range of organizations from investment management
firms to regional and community banks. We've had opportunities to work with financial services firms on key
industry issues including:
- Customer Insight including Wallet Share analysis
- Planning and Forecasting
- Product Profitability
- Channel Sales Analysis
Certainly since 2008 all financial organizations have been under pressure to not only demonstrate
financial health but also to lay out how they plan to evolve, change and succeed.
Our experience includes working with core Banking systems from vendors such as Jack Henry & Associates and Fiserv, Inc.
and helping our clients integrate their data with planning and forecasting software from IBM Cognos in order
to show a path to future success and measure the progress along that road.
Financial Industry Issues
- There are many business concepts in banking that involve weighted or comparative analysis. For one of our regional banking clients we extended
their data mart with an easy to use aggregate table containing the key set of financial ratios that they use to manage their company. This table is
refreshed nightly and greatly reduces the effort required to deliver these complex ratios.
- The acquisition cost of new customers can be overcome by identifying the most profitable customers and the most profitable product lines.
This allows a focused effort on retaining these customers and expanding the number of products that each customer has. On the commercial banking
side we've seen an increased focus on additional products such as card processing and payment services.
- Many of the issues around measuring product and channel profitability come down to properly measuring cost and adjusting for
risk. Our experience in Activity Based Costing (ABC) provides Perkins with a unique perspective and skillset in allocating
overhead costs.
- Some of the core issues for financial organizations include integrating customer data
and dealing with regulatory pressures. As markets and products change
dramatically in the wake of the financial crisis having a stable
Performance Management platform to negotiate these changes also becomes critical.
Case Studies
- Created a sophisticated data mart and sales dashboard solution for the U.S. division of a major provider of mutual funds and investment products.
This dashboard allowed the sales team to see aggregated sales by product and by region through a complex sales hierarchy of direct
salespeople and various distributors.
- We assisted a regional bank in designing a data warehouse architecture on Microsoft SQL Server that integrated data from a hosted banking
application as well as multiple outside data sources.
- We've developed a financial data mart based on Fiserv data for a regional bank and integrated that with budget data from
a driver-based deployment of IBM Cognos Enterprise Planning.
- Constructed a data mart and related multi-dimensional analysis for a community bank that allowed them to have multi-dimensional analysis
of financial statements. Added a forecasting capability based on key drivers such as loan volume by office and integrated the forecast with
the other data for powerful comparison capabilities.
- Developed a client performance reporting system for a major investment firm specializing in commercial real estate. This system provided
detailed performance reporting including rich graphics while observing all regulatory requirements. The deployment of this system saved hundreds of hours
each quarter of manual effort in creating and assembling and checkgin client performance reports.