HCL implements SAP Business Planning Consolidations for … · Benefits The success of the SAP BPC...
2
www.hcltech.com The client is a leading North American multi-line insurance company operating across a number of P&C brands, which rank it as the third largest auto insurance company in the United States. The client engaged HCL to implement SAP BPC (Business Planning & Consolidations) to support their planning and forecasting functionality. Engagement Areas Apart from implementing SAP BPC for the client, HCL also enabled the execution of detailed planning modules which were added to accommodate exhaustive planning. Business Objectives Some of the objectives of the client were to: • Eliminate massive web of Excel spreadsheets, with no ‘single version of the truth’ • Improve forecast accuracy by spending time focused on analytical measures and eliminating manual processes and reconciliations • Create a transparent process to support a better understanding of the plan and budget HCL Solutions To help the client overcome the challenges, HCL addressed the following aspects through its solutions: • Integrated planning model for personnel, expenses, premium, claims (losses), and management reporting • Enabled Full Income Statement planning capability using a rolling forecast approach and partial Balance Sheet planning with automated cash flow statement generation • Linked all applications together to create a solution where data from one planning process fed another through automated processes • Enabled the creation of multiple plan scenarios embedded in each application to ensure flexibility • Created an extremely scalable planning model with the ability to roll out across additional countries by simply adding the unique master data • Leveraged the HCL Enterprise Performance Management (EPM) framework for insurance to reduce implementation cost HCL implements SAP Business Planning & Consolidations for an Insurance client CASE STUDY
Transcript of HCL implements SAP Business Planning Consolidations for … · Benefits The success of the SAP BPC...
www.hcltech.com
The client is a leading North American multi-line insurance company operating across a number of P&C brands, which rank it as the third largest auto insurance company in the United States. The client engaged HCL to implement SAP BPC (Business Planning & Consolidations) to support their planning and forecasting functionality.
Engagement AreasApart from implementing SAP BPC for the client, HCL also enabled the execution of detailed planning modules which were added to accommodate exhaustive planning.
Business ObjectivesSome of the objectives of the client were to:
• Eliminate massive web of Excel spreadsheets, with no ‘single version of the truth’
• Improve forecast accuracy by spending time focused on analytical measures and eliminating manual processes and reconciliations
• Create a transparent process to support a better understanding of the plan and budget
HCL SolutionsTo help the client overcome the challenges, HCL addressed the following aspects through its solutions:
• Integrated planning model for personnel, expenses, premium, claims (losses), and management reporting
• Enabled Full Income Statement planning capability using a rolling forecast approach and partial Balance Sheet planning with automated cash flow statement generation
• Linked all applications together to create a solution where data from one planning process fed another through automated processes
• Enabled the creation of multiple plan scenarios embedded in each application to ensure flexibility
• Created an extremely scalable planning model with the ability to roll out across additional countries by simply adding the unique master data
• Leveraged the HCL Enterprise Performance Management (EPM) framework for insurance to reduce implementation cost
HCL implements SAP Business Planning & Consolidations for an Insurance client
CASE STUDY
Benefits The success of the SAP BPC implementation project gave the client the ability to reduce planning cycle times and increase the accuracy of their forecasts. The client also received the following benefits:
• Implemented processes and enabling system functionality to support business planning across Premium Planning, Expense Planning, and Full P&L Reporting. The implementation served as the baseline for a global template to be rolled out across the world.
• Generated a ‘single version of the truth’, with all the data being stored in one environment and everyone looking at the same set of numbers
• Eliminated the use of side models through standardized processes and data models, and provided transparency into the plan numbers
• Ensured that the targets are properly set as the finance organization spends significantly more time analyzing the plan
• Reduced the time taken to consolidate from hours to seconds
Hello there! I am an Ideapreneur. I believe that sustainable business outcomes are driven by relationships nurtured through values like trust, transparency and flexibility. I respect the contract, but believe in going beyond through collaboration, applied innovation and new generation partnership models that put your interest above everything else. Right now 105,000 Ideapreneurs are in a Relationship Beyond the Contract™ with 500 customers in 31 countries. How can I help you?
