Financial Services & Insurance
In the financial services industry, you must measure, analyze and predict performance in a highly voluminous transactional environment. Determining profitability is challenging because the majority of costs are indirect and involve activities provided by supporting departments. ImpactECS connects existing data and systems to calculate costs and profits by product or customer, run simulations for planning, handle shared services and chargebacks, or other important analytics activities.
Connect existing data from ERP and finance systems, operations systems, data warehouses, or wherever data lives in your organization with business rules and assumptions to calculate the answers needed to both understand past performance and predict future outcomes with ImpactECS.
With ImpactECS, financial services and insurance companies can:
- Assign detailed costs based on the consumption of time, labor, facilities and capital, as well as the characteristics of products, services or customers
- Measure and evaluate profitability at all levels – corporate, product, channel, segment and more
- Calculate cost and profits using activity-based costing (ABC), time-driven activity-based costing (TDABC), allocations, or any other option or combination
- Perform comparative analysis of costs and profits at all levels of the organization
- Analyze scenarios by adjusting or ‘flexing’ any characteristics of the product or customer