Jun 30, 2020
Nov 10, 2023

Boosting Decision-Making with Automated Financial Reporting

We partnered with a New Zealand-based investment firm dedicated to growing both investors' wealth and the New Zealand economy.

Valuing transparency, they are primarily Kiwi-owned and are known for their active and adaptable investing strategies tailored to ever-changing market conditions.

The Challenge

The firm's financial reporting was stuck in the past.

Due to the firm's growth into multiple entities, their manual reconciliation system wasn't built to accommodate their expanding needs.

This led to several challenges:

  • Data was gathered manually, increasing chances of mistakes.
  • Without dynamic reporting, comparing current performance to historical data or industry benchmarks was cumbersome.
  • It wasn't just that reports were difficult to understand; users struggled to drilldown into the details and truly grasp the underlying transactions.

These constraints were not only slowing them down but also putting a damper on their ambition to strategically grow and succeed.

Our Approach

  1. Deep Understanding: We began by closely examining their existing reporting methods. This involved looking at the people involved, the steps they took, and the data they used.
  2. Spotting the Gaps: After getting a grip on the technology and data they already had, we pointed out areas where immediate improvements could be made and also where there was potential for long-term enhancements.
  3. Joint Design Effort: We then crafted a sample version of a dashboard, ensuring it was visual and user centric. Their feedback helped shape this into a final product.
  4. Revamping the Old: With the prototype approved, we updated and automated their data collection and reporting processes, aiming for accuracy with minimal human intervention.
  5. Guided Transition: We recognised that new tools can be overwhelming. So, we stood by them, offering training, and addressing any concerns, ensuring they felt confident using the new dashboard.

The Outcome

Several years down the line, this automated financial reporting dashboard has proven its worth.

It's a tool that their top executives frequently turn to, and it has stood the test of time with minimal tweaks needed.

Key Client Benefits

Engaging Reports

The new system allows users to interact with data, letting them customise views, spot patterns, and identify areas for growth.

Efficiency Boost

What was once a monthly manual chore is now automated, freeing up time for other vital tasks.

Reliable Data

Automated systems mean fewer human errors, leading to more trustworthy data.

Empowered Decisions

With all key data in one place, the firm can make better-informed choices, reducing risks and setting them up for better outcomes.