The Problem In today s dynamic insurance industry, business planning is no longer just an operational necessity; it is a competitive differentiator. It needs to be fast, it needs to be accurate and it needs to be integrated. Yet it is often the exact opposite. Issues with disparate tools, manual processes and incomplete data are widespread, and planning veracity and velocity suffer as a result. For business planning to be of long-term strategic value, insurance companies need to transform their approach. How Can HCL Help? Drawing on our expert knowledge of both the insurance industry and business planning, HCL has developed a next generation of our Business Planning Accelerator for Insurance. Build on SAP s Business Planning and Consolidation 10.0 product, the accelerator is an insurance-focused planning solution that enables insurers to budget, forecast and analyze effectively on a rolling basis as business needs and market conditions evolve. By streamlining core processes and standardizing data formats, insurers can increase business planning accuracy and agility, thus reducing operational costs and risk, while maximizing efficiency. The Four Components of HCL s Business Planning Accelerator for Insurance 1 Headcount Planning Enables finance departments to define average salary, benefits, and bonus percentages in order to better forecast resources on a per position basis 2 Expense Planning Permits analysis and forecasting at any level of expenditures (broad to granular) for more accurate resource planning 3 Premium Planning Simplifies and standardizes the process of finding gross premiums written (GWP) to a matter of hours or days rather than weeks, with greater accuracy 4 Claims/ Losses Planning Better controls costs by providing a step-by-step and real-time approach to forecasting losses across a variety of categories 2
Our Proposition... A Client-Focused Workshop To help you gain the competitive edge needed to survive and thrive in today s volatile market, HCL is offering a half-day workshop at no cost* to help you successfully define how our accelerator can help you deliver the right BPC solution for your organization. Our unique, iterative and collaborative implementation approach enables a continuous feedback loop amongst consultants and business SMEs; working in close proximity, they ensure the functionality and quality of the resulting product and that the original design goals are met and benefits fully realized. Workshop components include: High level gap analysis between current state and the Insurance Accelerator offering Discussion of Insurance Planning and Forecasting best practices Post-workshop stakeholder briefing of findings, recommendations and next steps, including key considerations and risks based on your specific business drivers The HCL Difference As one of the largest and most experienced SAP BPC consultancy, HCL has more than 15 years of experience working with insurance customers, and is recognized as a leading Systems Integrator and a trusted Business Planning and Insurance Partner. With a global pool of SAP BI, EPM and EIM consultants and their experience of implementing a large number of EIM, EPM and BI projects, HCL has the expertise to deliver the full range of SAP Business Analytics solutions. *Offer is limited to 15 organizations, selected at HCL s discretion 3
Case Study The Client A large, insurance-based financial services provider with a global network of subsidiaries and offices. They offer a wide range of general and life insurance products and services to businesses of all sizes. The Problem The size and complexity of the client organization resulted in vast difficulties when it came to their own financial planning. Rather than an accurate and fully integrated process, business leaders were faced with a time-consuming and ineffective planning process that made reconciliation and consolidation of the plan next to impossible, due to a host of issues: Data Accuracy A massive web of Excel spreadsheets existed throughout the company, meaning there was no single version of the truth when it came to the data Manual Processes The HCL Solution HCL leveraged SAP BPC technology to create an integrated planning model that included separate applications for each business area the client required: Personnel, Expenses, Premium, Claims (losses), and Management Reporting. To address the primary problem areas for the client, HCL implemented the following elements with the solution: Full income statement planning capability with a rolling forecast approach Partial balance sheet planning with automated cash flow statement generation Actual data used for planning model to facilitate variance reporting and seeding the forecast Linked applications to create an integrated system Flexibility to create multiple plan scenarios embedded in each application Scalable planning model with the ability to add countries Real-time FX translation across all applications Employees spent more time preparing Excel worksheets for the planning process than actually creating the plan Lack of Transparency There was little visibility into how the plan numbers were calculated due to the large number of side models 4
The Benefits HCL provided functionality across Premium Planning, Expense Planning and Full P&L Reporting, with an initial North American implementation serving as a baseline for a global template to be rolled out in the rest of the world. Specific solution benefits included: Increased Data Accuracy All data is now stored in one shared environment, allowing everyone to look at the same set of numbers and providing one single version of the truth Improved Data Visibility and Integration Standardized processes and data models have eliminated the use of side models and provided transparency into the plan numbers Increased Efficiency Consolidation now takes seconds instead of hours, allowing the finance organization to spend significantly more time analyzing the plan and ensuring targets are properly set After the successful implementation, the client now spends 80% of their time on actual analysis. Additionally, thanks to HCL s collaborative implementation approach, the Finance staff are now able to build new applications on their own Next Step To set up a meeting, please contact Munish Gulati at Munish.Gulati@hcl.com 5
About HCL HCL is a leading technology organization with revenues of $6.3bn and 90,000 employees operating from 31 countries around the world. True Global Delivery HCL operates as a single global organization allowing us to deploy consulting teams which leverage proven industry and solution best practices from our offices and delivery centers around the world. HCL and SAP HCL has been a certified partner in the SAP Ecosystem for over 15 years. The HCL and SAP relationship delivers value to our customers through industry focused excellence, innovation, and orchestrated innovation through diverse resources. Our global delivery team of 8000+ SAP experts is recognized as having the most experienced consultants in the market and combines the best local SAP business transformation expertise with world class offshore SAP factory services. HCL is recognized a global SAP leader by leading industry analysts. We are regularly ranked #1 for client satisfaction. 6
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