Backoffice Pro Overhauls the Data Mart for a Financial Services Firm to Improve Efficiency

The Brief

• Client Profile: The client is a leading financial services organization based in India with nationwide operations and a large customer base served through numerous offices.
• Company Size: The company has a few thousand employees spread across its offices in India.
• Industry Domain: financial services industry.
• Challenges Faced: The client faced challenges such as disparate data collection processes, dependency on database managers, manual data validation procedures, and the lack of a unified data mart. These issues made data management, analysis, and reporting labor-intensive and error-prone.
• Project Objective: The primary objective was to streamline and automate the data reporting processes by creating a standardized reporting system, reducing dependence on manual intervention and increasing efficiency, while empowering the analytics team with necessary technical skills.

The Solution

Backoffice Pro developed a standardized reporting template to automate and streamline the client's reporting process. The solution ensured that monthly reports were available within four hours of data loading. Additionally, the client’s database was optimized by identifying and scrubbing duplicate entries and invalid fields, improving data quality and operational efficiency.

Additionally, Backoffice Pro optimized the client’s database by identifying duplicate entries as well as invalid fields and scrubbing them. This improved the quality of the data and allowed the relevant operations to run more efficiently.

The key highlights include:

• Technical Empowerment: Empowering the analytics team to reduce dependencies and manual interventions.
• Accelerated Report Availability: Monthly reports available within four hours of data loading.
• Database Optimization: Data deduplication and identification of invalid fields.

The Outcomes

Operational Advancements

• Automation-Driven Efficiency: Increased efficiency by removing human dependencies and manual interventions.
• Enhanced Data Analysis: Quicker and more accurate data analysis by empowering the analytics team.
• Rapid Report Turnaround: Monthly reports available within four hours, a significant improvement from weeks.

Financial Advancements

Automating and standardizing the reporting process reduced operational costs associated with manual data collection and validation. Training the analytics team minimized dependency on database managers, resulting in cost savings. Faster report availability allowed for quicker strategic decisions, positively impacting revenue.