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AAA Life Insurance Company Implements OneStream for Enhanced Financial Reporting and Analysis
技术
- 分析与建模 - 预测分析
- 功能应用 - 企业资源规划系统 (ERP)
- 平台即服务 (PaaS) - 数据管理平台
适用行业
- 金融与保险
适用功能
- 商业运营
- 质量保证
服务
- 软件设计与工程服务
- 系统集成
挑战
AAA Life Insurance Company was looking for faster and better reporting to gain a deeper insight into their business. Their previous Cognos solution was neither business user friendly nor flexible enough to meet their growing reporting needs. AAA Life Insurance needed a unified solution for financial consolidation, reporting, budgeting, and analysis. A key requirement was the ability to drive the analysis down to the transaction level. They needed the ability to drill down from calculated or consolidated numbers all the way back to their transactional ERP system. It was very important for them to have the ability to investigate and verify critical items such as expense details.
关于客户
AAA Life Insurance Company is headquartered in Livonia, Michigan. AAA Life Insurance Company is owned by several of the largest entities in the AAA organization. With over 1,000,000 policies, many customers have relied on AAA Life to help provide protection for their loved ones. The company is a significant player in the financial services industry, particularly in the life insurance sector. They have a large customer base and a substantial number of policies, indicating their extensive reach and trust within the market.
解决方案
AAA Life implemented OneStream to deliver multiple and related solutions to meet all financial reporting requirements in one application. Their integration adapter provides direct ERP integration and a mechanism to drill into details and present them in a variety of ways. Business users can choose from MTD or YTD values either for the current month or for every month of the year and get back to specific journal entries. After a short training session, users were able to build their own data queries, reports, and Excel® analysis sheets. Within minutes of loading the latest data each month, analysts on up to the Controller are reviewing results via our revolutionary Excel® Quick Views or our pixel-perfect financial reports. AAA Life’s phase II of the OneStream implementation focused on enhancing their budgeting process through the development of a staffing and compensation planning module and an improved budget collection process. OneStream allowed them to shift to a process-driven solution. Actual costs are now sourced from their general ledger and combined with HR time study data to facilitate the monthly expense reporting and expense allocation. This raw HR data is combined with forecast and budget employee information developed within the staffing and compensation planning module, along with other data provided by cost center managers as they work through their annual budget process. Finally, the system allowed allocated data to be passed to the Accounting group for monthly reporting and the Actuarial department for use in pricing models.
运营影响
数量效益
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