Incorta Case Studies Flexible Integrations Accelerate Financial Reporting for Global Media Tech Company

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	Flexible Integrations Accelerate Financial Reporting for Global Media Tech Company Incorta

Flexible Integrations Accelerate Financial Reporting for Global Media Tech Company

Incorta

Technology Category	Analytics & Modeling - Big Data Analytics Analytics & Modeling - Data-as-a-Service
Applicable Industries	Equipment & Machinery Finance & Insurance
Applicable Functions	Product Research & Development
Use Cases	Leasing Finance Automation Time Sensitive Networking
Services	Data Science Services
Challenge	In 2018, a Fortune 50 media and technology company was grappling with an outdated financial data analytics environment that was nearing its end-of-life. The company's key objectives were to reduce the time taken to run financial reports, increase data availability and refresh rates, speed up development time, and enhance the user-friendliness of the data analytics experience. Upgrading the existing systems would necessitate the addition of 29 new servers, a solution that was not only costly but also insufficient to truly advance the company. The legacy BI tool, primarily used as an extract and pivot tool, was not providing enough value and was even referred to as “the million dollar download tool” among employees, indicating the urgent need for a more effective change. Read More
About Customer	The customer is a leading global media and technology company, listed among the Fortune 50. The company has a large workforce, with over 10,001 employees. The department that was primarily involved in this case study was the Finance department. The company was facing challenges with its legacy financial data analytics environment, which was nearing its end-of-life. The company's main goals were to reduce the time it takes to run financial reports, increase data availability and refresh rates, speed up development time, and make the data analytics experience more user-friendly. Read More
Solution	The company adopted Incorta, a unified data analytics platform that is fast, user-friendly, and easily integrates with cloud-friendly tools and platforms. This provided the company with analytics-ready financial data, enabling the team to run existing reports faster, create new reports with ease, and combine similar reports from its legacy reporting systems with new and different nuances and aggregations. Prior to Incorta, the finance team was generating 500 reports regularly. With Incorta, they now have 200 live dashboards refreshing in near real time and were able to retire 80 reports that were no longer necessary. Incorta also facilitated the unification of the company's data, making it faster and easier for users to create their own reports without relying on IT, fostering a stronger community and more collaboration around data analytics within the company. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Big Data Analytics

Analytics & Modeling - Data-as-a-Service

Applicable Industries

Equipment & Machinery

Finance & Insurance

Applicable Functions

Product Research & Development

Use Cases

Leasing Finance Automation

Time Sensitive Networking

Services

Data Science Services

Challenge

In 2018, a Fortune 50 media and technology company was grappling with an outdated financial data analytics environment that was nearing its end-of-life. The company's key objectives were to reduce the time taken to run financial reports, increase data availability and refresh rates, speed up development time, and enhance the user-friendliness of the data analytics experience. Upgrading the existing systems would necessitate the addition of 29 new servers, a solution that was not only costly but also insufficient to truly advance the company. The legacy BI tool, primarily used as an extract and pivot tool, was not providing enough value and was even referred to as “the million dollar download tool” among employees, indicating the urgent need for a more effective change.

About Customer

The customer is a leading global media and technology company, listed among the Fortune 50. The company has a large workforce, with over 10,001 employees. The department that was primarily involved in this case study was the Finance department. The company was facing challenges with its legacy financial data analytics environment, which was nearing its end-of-life. The company's main goals were to reduce the time it takes to run financial reports, increase data availability and refresh rates, speed up development time, and make the data analytics experience more user-friendly.

Solution

The company adopted Incorta, a unified data analytics platform that is fast, user-friendly, and easily integrates with cloud-friendly tools and platforms. This provided the company with analytics-ready financial data, enabling the team to run existing reports faster, create new reports with ease, and combine similar reports from its legacy reporting systems with new and different nuances and aggregations. Prior to Incorta, the finance team was generating 500 reports regularly. With Incorta, they now have 200 live dashboards refreshing in near real time and were able to retire 80 reports that were no longer necessary. Incorta also facilitated the unification of the company's data, making it faster and easier for users to create their own reports without relying on IT, fostering a stronger community and more collaboration around data analytics within the company.

Impact #1	The implementation of Incorta led to significant operational improvements. Financial reporting, which previously took 17 hours over two days, was reduced to just 1.3 hours, making valuable data available by the next business day. The development time for implementing complex changes was reduced from approximately 8.5 days per cycle, per change to just one day. The user experience was dramatically improved, with 99% of users rating Incorta as an improvement over the company’s legacy solution. The company also saw a boost in collaboration and community around data analytics, with users sharing new ideas and strategies for data analysis.

Impact #1

The implementation of Incorta led to significant operational improvements. Financial reporting, which previously took 17 hours over two days, was reduced to just 1.3 hours, making valuable data available by the next business day. The development time for implementing complex changes was reduced from approximately 8.5 days per cycle, per change to just one day. The user experience was dramatically improved, with 99% of users rating Incorta as an improvement over the company’s legacy solution. The company also saw a boost in collaboration and community around data analytics, with users sharing new ideas and strategies for data analysis.

Benefit #1	Fixed asset reporting runtime reduced from 17 hours to 1.3 hours
Benefit #2	Development time reduced from 8.5 days to 1 day
Benefit #3	99% of users view Incorta as an improvement over the company’s legacy solution

Benefit #1

Fixed asset reporting runtime reduced from 17 hours to 1.3 hours

Benefit #2

Development time reduced from 8.5 days to 1 day

Benefit #3

99% of users view Incorta as an improvement over the company’s legacy solution

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Overview

Flexible Integrations Accelerate Financial Reporting for Global Media Tech Company

Operational Impact

Quantitative Benefit