Teradata > Case Studies > Accelerating Digital Transformation by Reimagining the Finance Function

Accelerating Digital Transformation by Reimagining the Finance Function

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 Accelerating Digital Transformation by Reimagining the Finance Function - IoT ONE Case Study
Technology Category
  • Analytics & Modeling - Machine Learning
  • Cybersecurity & Privacy - Security Compliance
Applicable Industries
  • Consumer Goods
  • Finance & Insurance
Applicable Functions
  • Quality Assurance
  • Sales & Marketing
Use Cases
  • Leasing Finance Automation
  • Supply Chain Visibility
  • Data Science Services
The Customer
About The Customer
The customers in this case study are five different global organizations from various sectors. They include a global bank that was struggling with customer engagement and profitability practices, a global rental company that needed to modernize their analytics ecosystem, a global retailer facing issues with non-product indirect spend, a global B2B distributor wanting to improve their rebate compliance, and a global consumer packaged goods (CPG) enterprise struggling to enforce its travel and entertainment (T&E) policies. Each organization faced unique challenges that were hindering their growth and efficiency, and they all sought solutions to improve their operations and profitability.
The Challenge
The case study presents five different organizations facing various challenges. A global bank was struggling to engage with customers due to ineffective profitability practices, poor cross-sell and up-sell functions, and inadequate segmentation analyses. A global rental company needed to modernize their analytics ecosystem as their processes were manual, time-consuming, and limited in model calculation. A global retailer had issues with non-product indirect spend, unable to identify non-compliant activity, leading to inconsistencies, reporting delays, and a lack of detail. A global B2B distributor wanted to improve their rebate compliance, but their existing process was manual, time-consuming, and lacked a centralized source of contract terms. Lastly, a global consumer packaged goods (CPG) enterprise was struggling to enforce its travel and entertainment (T&E) policies due to manual recording and reporting processes.
The Solution
Each organization worked with Teradata to address their challenges. The global bank leveraged line-level details to develop behavior-based, data-driven profitability analytics and improved marketing efforts due to a better understanding of customers and products. The global rental company created a finance-driven data foundational model and integrated critical enterprise resource planning (ERP) and non-ERP data. The global retailer developed business rules and workflows to identify anomalies and leveraged data visualization of spend results to highlight cost takeout opportunities. The global B2B distributor created a supplier data foundation to centralize all supplier data in one analytics platform and deployed compliance analytics to ensure proper rebate payments were received. The global CPG enterprise leveraged third-party tools to enable “always on and available” reports and dashboards and implemented artificial intelligence and machine learning to predict potential compliance and fraud issues.
Operational Impact
  • The operational results for each organization were significant. The global bank was able to improve customer relationships, maximize customer value, and reduce attrition. The global rental company was able to modernize their analytics ecosystem, leading to more informed business decisions. The global retailer was able to identify non-compliant activity, reducing the risk of fraudulent activity and improving reporting. The global B2B distributor improved their rebate compliance, gaining visibility into supplier rebates and improving insights into vendor terms. Lastly, the global CPG enterprise improved compliance and reduced fraud in its travel and entertainment policies, leading to cost reductions and improved supplier negotiations.
Quantitative Benefit
  • Global bank saw a 15% increase in high-value customer volume, $7.5 million incremental value, and $16 million in sales from repackaged products and services.
  • Global rental enterprise was able to measure sales force and change compensation based on sale type.
  • Global retailer improved supplier negotiations and contracts, reduced maverick spend, and cut costs.

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