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Standardizing Budgeting and Forecasting Processes on the Anaplan Platform

Xceedance implemented the cloud-native Anaplan platform to standardize budget and forecast processes for a multinational casualty and property insurance provider.

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The insurer needed the Anaplan platform to be deployed within six months. The process entailed partnering with Anaplan consultants to create the existing budget package on the new platform, complete required training and certifications to make the changes, and implement the said budget packages. The insurer also required processes pertaining to budgeting and forecasting workflows be standardized to improve overall organizational productivity and agility. The Xceedance team collaborated with Anaplan consultants to gain the necessary certifications and acquire hands-on knowledge of the platform. This helped the team determine how planning, forecasting, and budgeting processes could be optimized. Together with the Anaplan consultants, the Xceedance team developed a project charter to analyze current processes. Among other things, this helped in designing process flows, drafting new standardized global processes, creating multiple reporting views per management needs, and building a global user guide for existing and new users. 

The Xceedance team facilitated a smooth transition to the Anaplan platform, demonstrating its capabilities to the client’s finance teams spread across the globe. A dry run was carried out using budgeting and forecasting data from the prior year as a test case scenario before signing off on project readiness. The client witnessed a 50 per cent reduction in time spent on the budgeting process. In addition, the Anaplan cloud-native platform generated further efficiencies allowing the insurer to free up 40 per cent of its bandwidth for other critical tasks.

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