P&L, workforce planning and shared cost allocations help $3B+ insurance company achieve faster budgeting and reporting

Business Challenges

  • Disconnected P&L and Workforce Planning (M&A) – Planning was a decentralized process with a combination of Excel spreadsheets and siloed data entry stemming from dozens of acquisitions
  • Excessive Consolidation & Reporting Time – Herculean effort to produce manual reconciliations, consolidations, and reporting in legacy Cognos system
  • Manual Allocations – Manual allocation process required heavy user input
  • Poor User Experience – Difficulties with user experience in current solutions

Solution

  • Anaplan P&L Planning – Deployed a global enterprise-wide Anaplan solution that enabled the business to efficiently plan and report on their income statement
  • Custom-Tailored, Detailed Modeling Capabilities – Enabled detailed planning on revenue, intercompany income/expense, employee-level workforce planning, project-level planning, G&A cost planning, vendor-level expense planning, management & SEC reporting, and a robust shared cost allocation model with 5 methodologies

Impact

  • Faster Budget Cycles – Enterprise system requires less effort to be spent on data management and creates more time for value-added analysis
  • New Capabilities Delivered – Enabled business with previously-unavailable capabilities such as vendor-level, project-level, and intercompany-level planning and reporting
  • Self-Service Reporting and Analysis – Users are able to leverage Anaplan model for self-service reporting