Altair Case Studies Berkshire Bank's HR Department Streamlines Reporting with Monarch

	Berkshire Bank's HR Department Streamlines Reporting with Monarch Altair

Berkshire Bank's HR Department Streamlines Reporting with Monarch

Altair

Technology Category	Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Human Resources Procurement
Use Cases	Inventory Management Time Sensitive Networking
Challenge	Berkshire Bank's Human Resources (HR) department was faced with the challenge of creating and sharing monthly reports for short-term incentive plans, compensation and salary, talent management, and internal/external auditing requests. The department, which manages over 1,300 employees, had to spend hours collecting, parsing, and reconciling data before it could be shared with the executive team. The bank's expansion over the years, through organic growth and acquisitions, led to the deployment of several disparate HR systems. This resulted in HR data being 'locked away' in various systems, making it increasingly difficult to access, reconcile, and combine information from multiple vendors and various Excel spreadsheets. Read More
About Customer	Berkshire Bank is a financial institution with over 97 offices in Massachusetts, New York, Connecticut, Vermont, New Jersey, and Pennsylvania. The bank provides a variety of financial services including personal and business banking, insurance, and wealth management. Founded in 1846 in Pittsfield, Massachusetts, Berkshire Bank now manages more than $9.3 billion in assets. The bank's Human Resources department manages more than 1,300 employees and is responsible for producing monthly reports related to short-term incentive plans, compensation and salary, talent management, and internal/external auditing requests. Read More
Solution	To overcome these challenges, the bank turned to Altair's Monarch platform. Monarch was initially employed for the reconciliation of short-term incentive plan reporting. The platform enabled the HR department to quickly access, blend, reconcile, and prepare data. Tasks that previously took four or more hours to complete could now be done in just five minutes. The prepared data could then be easily dropped into a visualization tool for analysis. Over time, the HR department found many more uses for Monarch. The platform was used to create detailed and repeatable turnover, talent management, and compensation reports and dashboards. It also helped ensure the currency and accuracy of data being used by providing a clear picture of the statistical details of datasets. Read More Log in to view content
Contents

Technology Category

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Human Resources

Procurement

Use Cases

Inventory Management

Time Sensitive Networking

Challenge

Berkshire Bank's Human Resources (HR) department was faced with the challenge of creating and sharing monthly reports for short-term incentive plans, compensation and salary, talent management, and internal/external auditing requests. The department, which manages over 1,300 employees, had to spend hours collecting, parsing, and reconciling data before it could be shared with the executive team. The bank's expansion over the years, through organic growth and acquisitions, led to the deployment of several disparate HR systems. This resulted in HR data being 'locked away' in various systems, making it increasingly difficult to access, reconcile, and combine information from multiple vendors and various Excel spreadsheets.

About Customer

Berkshire Bank is a financial institution with over 97 offices in Massachusetts, New York, Connecticut, Vermont, New Jersey, and Pennsylvania. The bank provides a variety of financial services including personal and business banking, insurance, and wealth management. Founded in 1846 in Pittsfield, Massachusetts, Berkshire Bank now manages more than $9.3 billion in assets. The bank's Human Resources department manages more than 1,300 employees and is responsible for producing monthly reports related to short-term incentive plans, compensation and salary, talent management, and internal/external auditing requests.

Solution

To overcome these challenges, the bank turned to Altair's Monarch platform. Monarch was initially employed for the reconciliation of short-term incentive plan reporting. The platform enabled the HR department to quickly access, blend, reconcile, and prepare data. Tasks that previously took four or more hours to complete could now be done in just five minutes. The prepared data could then be easily dropped into a visualization tool for analysis. Over time, the HR department found many more uses for Monarch. The platform was used to create detailed and repeatable turnover, talent management, and compensation reports and dashboards. It also helped ensure the currency and accuracy of data being used by providing a clear picture of the statistical details of datasets.

Impact #1	The implementation of Monarch has significantly improved the efficiency of Berkshire Bank's HR department. The platform's ease of use and intuitive nature have made it possible to combine data quickly and easily. Prior to the implementation of Monarch, the HR department spent hours cutting and pasting information between different spreadsheets, often scrambling to deliver accurate, up-to-date information on time. Now, the department has the ability and the time to tell a story with the data and present it in a cohesive manner to the management team. This has not only improved the quality of reporting but also allowed for more meaningful insights to be gleaned from the data.

Impact #1

The implementation of Monarch has significantly improved the efficiency of Berkshire Bank's HR department. The platform's ease of use and intuitive nature have made it possible to combine data quickly and easily. Prior to the implementation of Monarch, the HR department spent hours cutting and pasting information between different spreadsheets, often scrambling to deliver accurate, up-to-date information on time. Now, the department has the ability and the time to tell a story with the data and present it in a cohesive manner to the management team. This has not only improved the quality of reporting but also allowed for more meaningful insights to be gleaned from the data.

Benefit #1	Reduced data preparation time from four hours to just five minutes.
Benefit #2	Enabled quick blending of data to create detailed and repeatable reports.
Benefit #3	Provided a clear picture of the statistical details of datasets, ensuring the currency and accuracy of data.

Benefit #1

Reduced data preparation time from four hours to just five minutes.

Benefit #2

Enabled quick blending of data to create detailed and repeatable reports.

Benefit #3

Provided a clear picture of the statistical details of datasets, ensuring the currency and accuracy of data.

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Overview

Berkshire Bank's HR Department Streamlines Reporting with Monarch

Operational Impact

Quantitative Benefit