A large refined-products retailer in the midstream space experienced a problem that could sound familiar to many other industry players: its existing risk-reporting procedures were largely manual and spreadsheet-driven.
Generally, spreadsheets make handling and configuring large volumes of data difficult. But spreadsheets also lack the tools necessary to efficiently analyze daily position and P&L data, and visualize data. The inability to engage in horizon reporting, including day-over-day, month-to-date (MTD), quarterly-to-date (QTD), and year-to-date (YTD) metrics, meant that personnel struggled to explain intra-month swings in P&L to management. Furthermore, the inability to warehouse and access historical data made it difficult for the company to identify trends, discover anomalies, and make accurate, informed business decisions quickly. The lack of automation lengthened reporting cycles unnecessarily. And, overall, the system was labor intensive, susceptible to errors, and simply not sustainable for the anticipated future growth of the company’s data.Can you relate?
Then perhaps your company could benefit from the cloud-based enterprise information repository and analytics solution that capSpire implemented for this retailer. Since the implementation, the company has the ability to transform how it stores, visualizes, analyzes, and reports its data, which will result in significant improvements in reporting processes:
- Management has much more insight into various reports via analytics dashboards that summarize key performance indicators.
- Automatic generation of daily position reporting; MTD, QTD, and YTD performance reporting; and spread reporting has shortened reporting cycles, freed personnel from the task of manually preparing reports, and reduced the potential for human error.
- The capability to access historic data enables horizon—day-on-day or span—reporting without limits as to how far back data can be reviewed.
- Surfacing hidden exceptions in business-related data uncovers trends and anomalies over several days, which enables identifying risks earlier and making more efficient business decisions.
- The company can easily implement this solution and expand analytics reporting in new business areas, at minimal additional cost, as it grows.
To learn more, please view our on-demand webinar titled Increase the Value of Your Risk Reporting with Automation, Big Data, and Cloud-Based Analytics. Co-hosted by capSpire and a guest speaker from the company that adopted this solution, we’ve delved into the specific tools and capabilities of this solution and how they can impact your risk group. For more immediate questions and assistance, you can also contact us at info@capspire.com.
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About capSpire
capSpire provides the unique combination of industry knowledge and business expertise required to deliver impactful business solutions. Trusted by some of the world’s leading companies, capSpire’s team of industry experts and senior advisors empowers its clients with the business strategies and solutions required to effectively streamline business processes and attain maximum value from their supporting IT infrastructure. For more information, please visit www.capspire.com.
