HCL has envisioned a overarching framework built on the cutting-edge Microsoft BI platform to meet the CFO requirements from strategic and operational planning to risk and regulatory compliance. Our iCFO solution also provides better transparency through data centralization, increases business insight with predictive analysis and accelerates performance resulting in faster closing and easy accessibility of reports.Contact partner
It is rightly said that Finance is the Business of Data. The CFO’s office is often the source of most qualified data for your enterprise and mine – reliable, timely and accurate. Whether it be shareholder, regulatory or external reporting and maintaining the performance of the enterprise to the outside world or the stakeholder, management or internal information, the Finance details with the entire value chain of information management, delivery, analytics and insights for one and all.
While the criticality is well understood and enabling technologies are available at hand and increasing, it still remains a pipe-dream for Finance Reporting folks to move efforts from 70% data production and 30% analytics to turn it the other way around.
HCL has been leveraging the power of BI and analytics to help clients navigate this world to bring the power of data and insights at their finger-tips and function as a true partner to business. We attempt to frame the critical needs from the information delivery perspective and explain how through right technology solutions and understanding of the domain, we can bring accelerated solutions to this prevalent problem.
HCL has envisioned a overarching framework built on the cutting-edge Microsoft BI platform to meet the CFO requirements from strategic and operational planning to risk and regulatory compliance. Our iCFO solution also provides better transparency through data centralization, increases business insight with predictive analysis and accelerates performance resulting in faster closing and easy accessibility of reports.
The critical needs can be framed from both the production side of data and the consumption side or information delivery to varied needs.
For reliability, (both timeliness and accuracy) of data, the data sources need to be ring-fenced to be structured and governed. The question therefore is how can one create enterprise information hubs that have well curated contents that can address a predictable set of users?
For agility i.e., providing information-on-demand, the data discovery and role-based access to select pools of data needs to be made available with minimal production over-heads. The question would be how can we have a self-service BI solution that will balance both reporting needs and discovery needs suited to different levels of granularity driven by users?
For insight-driven data, it is key that multi-dimensional and layered information can be modelled quickly and over-laid with business insights that can be readily consumed. The question then would be, how can the any-time, any-‘ware’ data be married with both advanced visualization capabilities and also captured business insights that can lead to action?
For data interrogation, it is key that the industrialized data packs should lend themselves for intelligent data interrogation and advanced analytics. The final question then, would be on how does one leverage standard reports/dashboards to search for specific data patterns/insights and also build advanced analytical models on top of them?
Based on our deep and wide expertise in working across the spectrum of Business Intelligence, Advanced Analytics and Enterprise Performance Management (EPM) closely with Finance IT departments, HCL has created and implemented a suite of solutions under its iCFO (integrated CFO) framework.
iCFO combines the best of Finance packaged/be-spoke solutions (from integrated GL, FP &A, reporting and reference data management systems) with that of technology solutions (from warehouses, reporting and visualization solutions, analytics solutions) and enable both the modernization and implementation of integrated transformation solutions.
HCL has architected and developed next-gen CFO dashboards for all enterprise classes – from transnational corporations to SME ‘all-in-a-box’ solutions with role-centric perspectives.
The iCFO dashboards are aligned to industry-standard KPI’s from across Finance functions and also key KPI’s for corporate performance management with customized KPI metrics for various industries (BFSI, Life Sciences, Hitech/Manufacturing, Oil & Gas, Telcos etc.,)
The solution is underpinned by standardized data models for Finance areas covering all key subject areas (from overall planning, budgeting to spend analytics)
Role-based perspectives and drill-downs is built in from CFO/CXO to Controller/LOB views to manager-level detail views) – with hierarchy definitions, key fact areas and dimensions and standardized reporting catalogues
-iCFO is realized on Power BI which brings in quadrant leading features on many counts
-Powered by PowerBI, iCFO Dashboards have very intuitive visualization capabilities driven by user segments
-Intuitive, trends-driven, zero foot-print and customized visualization widgets for CXO, decision-making users (including mobile devices)
-Multi-dimensional, custom KPI’s driven with advanced visualization capabilities and integration with analytical models for LOB/middle-management users and leveraging features for creating reporting content packs
-Multi-grain, slice-and-dice capabilities for self-service reports and curated content for large data sets for operational users with integration with key MS Productivity solutions with Q & A capabilities at all levels
-HCL has identified the most influential use cases for this solution that will result in tangible cost reduction for customers. These include:
-Faster Decision making process
-Enable the customer to implement faster using the KPI Repository
-Provides Strategic Theme to KPI Drill Downs
-What if Models – In force base
-Critical to Business KPIs – Central Dashboard
-For Strategic Execution &Transformation - Scorecards & Dimensions
-Detailed reports on Line of Business, Revenue, Regional, Quality – Maps, Sparkline, Dateline, Drill Downs, Graphs
-Predictive Analytics using Azure Machine Learning
-SQL Server 2012
-Cortana Stack (Azure Machine Learning, Azure SQL Data warehouse, Data Lake, Stream Analytics, Azure Data Factory)
HCL’s Business Analytics Services brings you some of the solutions at your enterprise door-step through its iCFO Dashboard solutions (with KPI libraries, process and data models, domain and industry contents)
-Visualization solutions (for advanced and custom visual intelligence solutions)
-HCLs ETL Framework
-Data Catalog Framework
-EoMC Utility for Monitoring and Performance Analysis
-Web based utility Trends Analysis for corrective action