A Value-Led Finance Transformation with TechnologyOne + ENIGMA

Xaana embarked on a journey to reimagine the Finance function for our Maritime client by developing an integrated road map of high-impact strategic initiatives that would encourage innovation within its Finance teams.

1. Provide a better grasp of data and bring finance closer to the coveted “single source of truth” in terms of business and financial information.
2. Facilitate integrated business planning, improve profitability analysis, better assessment of the value of products and services delivered versus their costs, and identify costs associated with complexity and poor planning.
3. Simplify the integrations, making it easier to incorporate information from different corporate sources and systems.
4. Evolve the Finance function to use analytics to predict trends, help spot the next disruptions, and set ambitions related to business outcomes than on the process to get there.
5. Introduce self-service digital solutions that would free up our client's Finance users' capacity to develop better business advisory capabilities.

Connected Intelligence - powered through Xaana's Integration Solutions

Xaana enabled it's Maritime client's Finance team to use the TechnologyOne platform to connect to the rest of the company— linking critical data sources and workflows across HR, operations, supply chain and more - eliminating inefficiencies and disjointed views and driving company-wide innovation and transformation. Putting Digital core philosophy at the heart of the transformation, Xaana built a suite of intelligent automation tools for data management within and around TechnologyOne solutions to help get smart data quality for better insights & decision making.

Financial Modelling

We used internal and external data and proprietary algorithmic models to better understand the leading indicators of demand before they showed up in the company’s P&L. This was done by leveraging advanced financial modelling to identify future risks and opportunities and by using variations in external data such as business users search trends, coupled with internal data, to forecast future demand and minimise outages more accurately. The new models provided an ability for our client's Finance teams to move processing, reconciliations, and allocations to real-time—moment-by-moment views into cash, liquidity, and working capital—improving efficiency and reducing operational costs, while more confidently guiding investments.

The program provided the ability to modernise our client's application stack to meet its growing business needs.

The program laid the foundation for setting a system of reference that would focus on simplification and standardisation to make it easier for core apps to access and use data from the FMIS. It also built a system of intelligence that would fuel innovation and lay the foundation for next-gen technology levers such as artificial intelligence, robotic process automation and machine learning. And finally, the program helped create a system of variation that would focus on connecting applications with specific areas of differentiation and addressing complexity using a flexible tech architecture to support changing business users' demands. This foundation has been critical, setting the stage for ongoing improvement.

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