Case 1 – Forecasting and Modelling
Virtually paralysed by a complex array of spreadsheets, company X was never able to complete the forecast on time. Management lacked confidence in the numbers anyway because errors were routinely being found. Dedicated staff in a variety of company locations worked tirelessly to manage the complex environment of spreadsheets but had little time for analysis – it was hard enough explaining and justifying the numbers, and then there was the additional burden of management reporting. Extra staff had to be hired.
Tridant designed and implemented a solution that replaced the complex array of spreadsheets with a single source of the truth – a shared analytical platform accessed by company staff in all locations. It contained all the financial and physical data needed for performance analysis and forecasting along with an approved set of business rules – consistently applied and pre-tested. The collection of business information was automated and modernized, so was management reporting. Analysts were given the slice and dice power they desperately needed to perform in their role.
Forecast cycle time was cut from weeks to days allowing rolling forecasts to become the norm. Management confidence was restored because errors were eliminated and all business logic was transparent. Reporting became effortless which allowed much more time for analysis. Users had the power to create their own reports and share them with just a few clicks. The board and management benefited from a consistent and reliable basis for decision making with a rapid turn-around.
Case 2 – Incentive Compensation Management
Company Y had a large sales force but still had an Excel based commission system that was difficult to use, error prone and required many hours of admin support. Management was concerned about the large number of commission over-payments and late payments. Sales reps where known to keep their own records because the existing system lacked the reporting capability to provide sufficient detail for comparison purposes – and many staff did not trust the system to pay them correctly.
Tridant implemented a state-of-the-art Incentive Compensation Management system which automated the calculation and payment of commission. Sales staff could track their sales orders via a portal on the company intranet and use it to monitor sales metrics like performance against quota. They could also create their own customised reports.
Retention of key sales staff was improved with defections down 45%. Late commission payments and errors were eliminated which has raised the focus on selling and sales performance. In addition there has been an estimated saving of 20,000 employee days per year.
Case 3 – Sales and Profitability Analysis
Company Z sold large volumes of its products but was unable to analyse the profitability of their sales uniquely by product, customer, territory or sales channel. They invested heavily in consultants and studies at times but the results were so long in coming, that nobody considered them relevant anyway - the business had moved on and so had the competitor landscape. The company had large volumes of data about its sales from separate sources but this only complicated the problem. Management was uncertain of how best to grow revenue and where to invest.
Tridant deployed a solution that integrated all available business data into a powerful analytical platform accessed by staff from any location – a single source of the truth. Business rules were developed to measure profitability in all dimensions, and results were available regularly without delay or excessive cost. Powerful presentation and distribution options were implemented including dashboards and dynamic reports. Power users had state-of-the-art tools to analyse data with as much detail as they required in just a few clicks – without relying on IT.
Management now had the facts it needed to make strategic decisions about growing revenue and profitability. Key Performance Indicators were developed and tracked throughout the organisation that aligned individual performance to company objectives.