Revamping Business with Advanced Reporting & Visualization

We transformed our client’s fragmented enterprise architecture & ensured transparency in the business process.

Revamping Business with Advanced Reporting & Visualization

Experience the transformation of business processes through the power of advanced reporting and visualization. Our case study highlights how Bizmetric’s solutions drive efficiency, data-driven insights, and informed decision-making. Explore the possibilities and see how we modernize businesses for the digital age.

About the Industry

The insurance sector has welcomed the digitization phase with open arms. The “digital service” business model has brought about a revolutionary shift to the insurance industry. Be it a personalized premium or usage-based policy cover, analytics and automation have made a positive impact at the nuclear level.

With a transformed business model, the reimagining and personalization of products and services have become a necessity. The legacy solution system has been taken over by analytics-driven approaches. The claiming of insurance is taken care of by AI-enabled solutions. Similarly, advanced analytics and big data have proactively gained actionable insights from obtaining data exhaustively. In a recent trend, partnering with tech giants has simplified and improved the operational aspects of the insurance business.

About the Client

Our client is a Singapore-based leading insurance service provider organization. Though based out of Singapore, their presence in New Zealand & Australia is noteworthy. As part of their business strategy, our client is venturing into the areas of AI & Analytics-driven insurance solutions.

Being data-driven, managing the global financial & insurance operations with legacy solutions does not generate meaningful results. Being inclined towards analytics, the company is getting more focused towards an integrated solution that would manage financial and insurance-related tasks more efficiently. The company is looking forward to digitally transform the business landscape with a robust & integrated data solution.

The Business Challenges

The traditional way of dealing with business problems fails in the long run. Our Client faced similar challenges. The roadblocks were as follows: –

  • The existing accounting solution was outdated and failed to meet scalability for better results.
  • The reporting architecture failed to deliver real-time intelligence, which in turn impacted business decision-making.
  • The manual procurement process delayed the annual reporting of the organization. The availability of updated financial data was compromised.
  • Lack of transparency caused inefficiencies at the auditing level. Also, the absence of flexibility limited the functionality of the existing solution.

The Business Solution

  • Post case analysis, we deployed the Oracle ERP Cloud Solution for our client.
  • The Oracle Fusion Financials managed the enterprise’s general ledger, Accounts Payable, Account Receivables, and Expense Management.
  • Similarly, the Oracle Fusion Procurement Module improved the purchase and requisitions tasks of the organization. The leveraged self-service procurement simplified the existing business solution.
  • We designed an application implementation roadmap to assist us in tracking the reliability of the new solution, and the improvement witnessed so far.

Key Results

  • The procurement cost saw a reduction of 35%. Magnified user adoption improved both the productivity and the efficiency of the solution.
  • Productivity almost grew by 40%. Our highly agile & scalable solution increased the capacity bandwidth, and thus accelerated the pace of meeting the business needs.
  • The financial reporting and the availability of the financial data in real-time further brought transparency in the day-to-day resolution of the tasks.
  • The digital ecosystem improved the decision-making capabilities of the organization and made the solution even more user-friendly.

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