Financial & Banking
Solutions4Strategy helps ﬁnancial institutions keep up with increasingly complex compliance, governance, risk avoidance, and strategic planning requirements. Headquartered in Sydney, Australia, the company has been developing strategic systems for multinationals, government, and small business for nearly 30 years. Its ﬂagship application uniquely combines strategic planning, risk, compliance, forecasting, budgeting, and ﬁnancial and regulatory reporting capabilities into one powerful system. The solution helps small and medium retail banking institutions more easily manage regulatory burdens while empowering effective business strategy.
Today's financial institutions face unprecedented regulatory complexity as a result of Basel III, the Sarbanes-Oxley Act, and other compliance standards and legislation that have been enacted worldwide. The stringent reporting requirements and massive quantities of data required have forced financial institutions to look for new efficiencies in making this data actionable. According to Solutions4Strategy CEO David Jordan,"On average, 90 percent of corporate spreadsheets have errors, which create unnecessary risks in terms of compliance, and also lead to bad business decisions. As requirements get more complex, organizations hit a wall with spreadsheets."
More than 20 years ago, Solutions4Strategy selected Rocket Software’s UniVerse database as the engine for their application because of its ability to manage the different data outputs and streamline them into one system. The next step was to layer business intelligence on top of the solution. However, due to the constraints and limitations of most business intelligence tools on the market, Solutions4Strategy was frustrated by its inability to deliver the level of dynamic dashboards its clients needed. Many of these tools required specialists to invest in developing a "static sand box" that end users could utilize for modelling different scenarios. Because of the complexity and rapidly changing environment that Solutions4Strategy's banking customers faced, a static structure was not a viable model. "When we tried other business intelligence tools in the past we hit a wall," Jordan said. "Rocket® CorVu NG was the answer in breaking down these walls."
- Delivered a powerful visual dashboard module to access complex data structures in real time
- Equipped banking customers to predictively model business outcomes and keep pace with rapid change to make more informed decisions to drive their organizations forward
- Provided a more complete solution with superior BI capabilities while controlling development costs