Qlik Case Studies Finanmadrid chooses QlikView to reduce time and costs in its processes

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	Finanmadrid chooses QlikView to reduce time and costs in its processes Qlik

Finanmadrid chooses QlikView to reduce time and costs in its processes

Qlik

Technology Category	Analytics & Modeling - Real Time Analytics
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Real-Time Location System (RTLS)
Services	Software Design & Engineering Services
Challenge	Finanmadrid, the financial division of the Cajamadrid Group, was facing challenges with its reporting system. The company's needs for a global, efficient, and optimal reporting system led its Systems Department to seek out an application that would improve both horizontal and vertical reporting. Given the complexity of its operating systems, which were divided up among various technological applications, the main requirement was to find one system that would link together data from all departments. Data were extracted on a monthly basis from the accounting department, the various business divisions, and the general administrative division, thus leading to a need for management reports that were more agile and could be produced more frequently. Greater flexibility was also sought when it came to implementing tactical decisions, the effectiveness of which had to be tested without the complexity of modifying accounting structures. Read More
About Customer	Finanmadrid is the financial division of the Cajamadrid Group, and is part of the Caja Madrid – Mapfre Financial Services Bank. It offers financing for real estate and automobile purchases as well as the consumer sector via personal loans and credit cards. Its main areas of business are focused on: Automobiles, offering specialized products for vehicle and motorcycle purchases; Consumer, including (financing for) household appliances, kitchens, and other services; Direct Credit, with both personal loans and credit cards. Finanmadrid has witnessed high levels of growth since 2004, and in 2007 it achieved ranking as the fourth largest financing company in Spain, which it maintains to this day. Read More
Solution	After finding out about QlikView, a test version was created, which served as the basis for all subsequent developments. Only two people participated in this process, which lasted just one weekend. Once this initial step was completed, there was no problem in implementing the system, nor were any prior tests or comparative studies needed. The actual implementation of QlikView took place over an extended period of time. Panel boards were first developed for the consumer division, and for 50 commercial outlets across the country. Due to budget limitations, automated macro-based tools were developed internally, which allowed for the daily distribution of updated information. Once the company’s information systems department unified the application for the three business areas, the QlikView project was extended to the remaining departments. The “QlikView effect” then became clearly tangible: immediately accessible data for all decision-making processes. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Real Time Analytics

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Real-Time Location System (RTLS)

Services

Software Design & Engineering Services

Challenge

Finanmadrid, the financial division of the Cajamadrid Group, was facing challenges with its reporting system. The company's needs for a global, efficient, and optimal reporting system led its Systems Department to seek out an application that would improve both horizontal and vertical reporting. Given the complexity of its operating systems, which were divided up among various technological applications, the main requirement was to find one system that would link together data from all departments. Data were extracted on a monthly basis from the accounting department, the various business divisions, and the general administrative division, thus leading to a need for management reports that were more agile and could be produced more frequently. Greater flexibility was also sought when it came to implementing tactical decisions, the effectiveness of which had to be tested without the complexity of modifying accounting structures.

About Customer

Finanmadrid is the financial division of the Cajamadrid Group, and is part of the Caja Madrid – Mapfre Financial Services Bank. It offers financing for real estate and automobile purchases as well as the consumer sector via personal loans and credit cards. Its main areas of business are focused on: Automobiles, offering specialized products for vehicle and motorcycle purchases; Consumer, including (financing for) household appliances, kitchens, and other services; Direct Credit, with both personal loans and credit cards. Finanmadrid has witnessed high levels of growth since 2004, and in 2007 it achieved ranking as the fourth largest financing company in Spain, which it maintains to this day.

Solution

After finding out about QlikView, a test version was created, which served as the basis for all subsequent developments. Only two people participated in this process, which lasted just one weekend. Once this initial step was completed, there was no problem in implementing the system, nor were any prior tests or comparative studies needed. The actual implementation of QlikView took place over an extended period of time. Panel boards were first developed for the consumer division, and for 50 commercial outlets across the country. Due to budget limitations, automated macro-based tools were developed internally, which allowed for the daily distribution of updated information. Once the company’s information systems department unified the application for the three business areas, the QlikView project was extended to the remaining departments. The “QlikView effect” then became clearly tangible: immediately accessible data for all decision-making processes.

Impact #1	QlikView services are now directly benefiting the company’s entire commercial team, which is made up of 60 employees, while an additional 60 staff members benefit indirectly through the generation of reports.
Impact #2	Thanks to QlikView, the company has been able to detect processing errors which could only be discovered through the processing speed and visualization capacity of this latest generation in BI applications.
Impact #3	QlikView has become a fundamental tool for both real-time analysis and report development.

Impact #1

QlikView services are now directly benefiting the company’s entire commercial team, which is made up of 60 employees, while an additional 60 staff members benefit indirectly through the generation of reports.

Impact #2

Thanks to QlikView, the company has been able to detect processing errors which could only be discovered through the processing speed and visualization capacity of this latest generation in BI applications.

Impact #3

QlikView has become a fundamental tool for both real-time analysis and report development.

Benefit #1	The cost of comparing different technological alternatives proved higher than the actual implementation of QlikView, which accounted for only one-fourth the cost of a reporting system in Excel.
Benefit #2	Requests for changes can be managed and resolved in days, while this process used to take weeks or months.

Benefit #1

The cost of comparing different technological alternatives proved higher than the actual implementation of QlikView, which accounted for only one-fourth the cost of a reporting system in Excel.

Benefit #2

Requests for changes can be managed and resolved in days, while this process used to take weeks or months.

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Overview

Finanmadrid chooses QlikView to reduce time and costs in its processes

Operational Impact

Quantitative Benefit