The Financial Services Group

Isango8 - providing project management and accounting support for SMEs in the South and South WestSometimes companies buy software that seems like the answer to their prayers but then find that it doesn’t get used. Often, as in the case of this Building Society they go through the process several times spending money on ineffective implementations. Meanwhile they continue using inefficient methods of producing management information.

This was the case with this firm who used a combination of word, excel and pdfs to supply information for their board packs. The process took too many hours of top management time and required the help of administrators and secretaries to pull it all together. The main problem was that they couldn’t get information out of their systems and present it in a consistent way.

Initially the Finance Director felt that they needed to buy more software and asked for our opinion. We took a look at the problem and suggested that what they had was perfectly adequate but under utilised so we put in place a plan to make things better.

We started by getting agreement from the board and senior management for a standard board and management reporting format, this was complicated because of course they are regulated in the UK and management information needs to comply with the requirements of the FSA.

The next step was to get the specialist treasury software working correctly and find a way to extract the information.

Finally we produced a robust excel model that took information from a series of disparate sources and compiled it automatically into a single document that could be printed, sent out electronically or converted into a Pdf for archiving.

The client was delighted, so much so that they asked us to do exactly the same for their subsidiary. They saved many hours of very expensive management time but more importantly the board members were getting the information they needed to make informed strategic choices for the company.

 

If you have a system that isn’t working correctly or you want to find out more about information presentation then why not get in touch Call now for an informal chat about how we can help