Financial Services: Making Informed Decisions with Improved Transparency

Financial Services companies rely on their data to provide relevant information to customers across a variety of areas that support revenue streams (asset, portfolio, risk, and regulatory management). Providing an intelligence edge to the client is their differentiator. Best-in-Class companies do more than their competition to improve their data, visibility, and time-to-information. Automating, streamlining processes, and eliminating “the paper” empowers the Best-in-Class to provide key insights to their customers, which enables more informed decision-making. Historically, to minimize cost and enhance the visibility of information, financial services companies focus technology and capabilities towards improving the speed and efficiency of transaction processes. Underlying these pressures is the goal to increase the speed and flow of business, which puts tremendous pressure on all of the processes upon which the companies rely to gather data and generate insights. Cited as issues: Poor communication, cumbersome processes (many of which are still manual), and the quality of budget data. The volatility of the market itself requires real-time updates to keep projections and forecasts current. Efficiently managing the volume and variety of data (commonly referred to as big data) is at the heart of these challenges.