Expanding an asset manager’s data-driven insights
60%
Improvement in reporting lead time as a result of finance transformation
At a glance
Client
A leading U.S. asset management firm
Industry
Asset management
Our role
Streamlining the finance function
Our solution
Finance modernization
Scenario
A leading U.S. asset management firm was preparing for global expansion, but its finance systems were fragmented and slow to report.
Approach
Grant Thornton established a unified finance and data management process that delivered immediate, accurate and reliable data to accelerate the reporting cycle.
Result
Grant Thornton’s modernization efforts helped the firm develop speedier finance processes that provide timely data for key decisions.
Scenario
An asset management firm’s CFO understood that a planned expansion into global markets would not succeed without effective, timely data to inform decision-making.
The CFO called for a finance modernization effort that would create the technology, infrastructure, data governance and reporting that would support the organization’s growth goals.
The firm’s data and financial reporting needed to be unified and streamlined for an effective global expansion.
Approach
Grant Thornton worked with the firm’s leaders to understand its needs, clarify the scope of the finance modernization project, and establish a timeline.
The team used its program management, finance modernization and asset management industry experience to:
- Identify current KPIs across the business, developing and creating a maturation process for new KPIs
- Speed up the reporting cycle with data that was accurate and reliable
- Implement automation that improved reporting speed and reliability
- Establish and standardize data governance processes and controls so stakeholders throughout the firm would be “speaking the same language.”
- Clarify documentation of data sources and transformations
- Build collaboration between the business functions and the IT organization
- Create standard operating procedures for a unified reporting model
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Result
The finance transformation gave the firm’s leaders quick access to data dashboards that span each business unit, giving them insight for data-driven decisions with:
- Centralized reporting across 16 business units (across the front, middle and back offices) in one application
- 60% faster reporting lead time
- Self-service filtering and drill-down functionality
- Mobile access to management reports
- Robust governance and controls
- Transformed decision-making that is focused on KPI dashboards
When firm leaders are thinking through how they are going to price their products or direct their sales strategy, they’re able to support those decisions with facts based on timely data.
The access to accurate financial reporting and data that’s delivered in a timely fashion gave the firm the support it needed for better business decisions and expansion into global markets.
Connect with our team
John M. Howell
Principal, CFO Advisory Services
Grant Thornton Advisors LLC
John has over 25 years of professional consulting experience and has significant experience assisting clients with Financial Management and Reporting related process transformation initiatives.
Charlotte, North Carolina
Industries
- Asset management
- Insurance
- Banking
- Construction & real estate
- Manufacturing, Transportation & Distribution
Service Experience
- Advisory
- Audit & Assurance
- CFO advisory
Martin Ferrer
Principal, CFO Advisory
Grant Thornton Advisors LLC
New York - Manhattan
Content disclaimer
This Grant Thornton Advisors LLC content provides information and comments on current issues and developments. It is not a comprehensive analysis of the subject matter covered. It is not, and should not be construed as, accounting, legal, tax, or professional advice provided by Grant Thornton Advisors LLC. All relevant facts and circumstances, including the pertinent authoritative literature, need to be considered to arrive at conclusions that comply with matters addressed in this content.
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For additional information on topics covered in this content, contact a Grant Thornton Advisors LLC professional.
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