Sagence BI Platform Enables Automated Accounting & Operations Reporting

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Summary

Sagence implemented the client’s first data and reporting platform for the accounting and operations team to generate the 50+ monthly reports that were previously produced manually. The platform saved 40+ hours per month, allowing team members to focus on mission critical tasks. This platform also aided in the client’s year-end audit requirement of proving the credibility of the report data. Sagence continues to monitor and support all operations ensuring proper delivery of the reports.

Challenge

The client needed to create reports that are compliant with the trade commission on a monthly basis. The issue was finding a cost-effective way to produce the reports. The current manual method of report generation often went over budget. Additionally, during annual audits, the client needed to prove there was no manipulation of the report data. This was a long and tedious manual process that took time away from other projects.

Solution

Sagence integrated the data platform with the client’s clearing broker to extract data on a periodic basis. The data pulled from the clearing system is enhanced during the ETL process, creating optimal reporting data marts. A report server consumes data from the data marts, creating 50+ monthly reports. The process is fully automated and needs no manual intervention. The data repository built for this process also serves as a foundation for future management dashboards.

Results

Over 50+ monthly reports are now produced with virtually no manual intervention saving over 40+ hours per month of team member’s time. The client’s year-end audit requirement of proving the credibility of the report data is met automatically. Additionally, as part of the annual audit, the client was asked to start accounting for P&L based on trade date, as opposed to settlement data to comply with a new accounting rule. The Sagence team was able to deliver those reports as well in a relatively short timeframe.