Automated Dashboard Solution for Financial Data Reconciliation

InCredo Helped Elevate Business Operations and Foster a Culture of Data-Driven Decision Making for a Global Oil and Gas Company

Summary
The customer, a global energy transition company, needed a way to effectively analyze their budget, actual cost, and other critical parameters to make data-driven decisions. InCredo developed a comprehensive and
consolidated dashboard solution to address these challenges and help the customer elevate their business operations.

About the Customer
Our customer, a leading energy transition company, is dedicated to providing both conventional and alternative fuels to its clients. As one of the largest processors of used motor oil in the United States, they boast extensive hydro processing and plant infrastructure, including massive storage facilities holding millions of gallons of fuel. They generate large amounts of financial data that requires analysis.

The Challenges
This project involved analyzing large amount of data generated by multiple transactional portals and websites. Excel was not sufficient providing meaningful insights and extracting valuable information quickly. The project involved analyzing data from various source systems, including real-time data from government portals for WTI, Brent, etc. In the financial world, business owners set budgets to manage their finances and control their spending. CFOs and those involved in financial reporting know that actual numbers often don’t match budgets. To aid in financial analysis and forecasting, budget variance analysis is instrumental.

The team responsible for this application operates in a scattered manner, using varying techniques and procedures for data entry. This lack of standardization makes it difficult for team members to compare their performance with each other and assess their overall contribution.

The area manager also faces challenges in evaluating team performance across different locations and collection centers. Without proper data reporting and a standardized process, it is difficult to conduct root cause analysis and identify areas for improvement when milestones are not met.

The Solution
InCredo developed an automated dashboard solution that provided the customer with a comprehensive and consolidated view of their budget, actual cost, and other critical parameters. This enabled them to effectively analyze the performance of their sales team across various dimensions over time.

Key Features:

• Consolidated view of budget, actual cost, and critical parameters.
• Real-time data from government portals for WTI, Brent, etc.
• Budget variance analysis to aid financial analysis and forecasting.
• Standardized data entry process to facilitate performance comparison and contribution assessment.
• Root cause analysis to identify areas for improvement.

The Outcome                                                                    
The automated dashboard solution transformed business operations and empowered the customer to make data-driven decisions. The team was able to extract valuable information quickly, compare their performance with each other, and assess their overall contribution. The area manager was also able to evaluate team performance across different locations and conduct root cause analysis when milestones were not met.

Key benefits of our solution are –

• 30% reduction in daily efforts to track KPIs due to automation
• Field sales teams were able to improve their efficiency by up to 20% in achieving goals and time management
• High performance user experience for increased analytics adoption & 20% higher user data