Flexible integrations help media tech company
Incorta enables a leading global media and technology company to speed up financial reporting and make data analytics more easily accessible
-
1.3hr
fixed asset reporting runtime, reduced from 17 hours
-
1day
development time, reduced from 8.5 days
-
99%
of users view Incorta as an improvement
THE CHALLENGES
A need to modernize financial data analytics environment
In 2018, this Fortune 50 media and technology company’s legacy financial data analytics environment was nearing end-of-life. They needed a solution that would meet its key goals: reducing the time it takes to run financial reports, increasing data availability and refresh rates, speeding up development time, and making the data analytics experience more user friendly.
Upgrading existing systems would require 29 new servers — and while extending the life of its legacy systems would provide some improvement, it wouldn’t be enough to truly move the company forward. Needless to say, the effort would also come with a hefty price tag.
With its legacy BI tool lacking in value and mostly being used as an extract and pivot tool at the time — earning it the nickname of “the million dollar download tool” among employees — they knew it was time for more meaningful change.
THE SOLUTION
Spurring innovation in the Office of Finance with accessible data analytics
With Incorta, this media and technology company now has a unified data analytics platform that is fast, user friendly and easily integrates with cloud-friendly tools and platforms. The company now has analytics-ready financial data, giving the team a way to run existing reports faster, easily create new reports, and also combine similar reports from its legacy reporting systems with new and different nuances and aggregations.
Before Incorta, the finance team was generating 500 reports on a regular basis. Now, they have 200 live dashboards refreshing in near real time. The company was also able to identify and retire 80 reports that were no longer necessary.
Incorta also helped the organization unify its data more broadly, making it faster and easier for users to create their own reports without relying on IT. This led to a stronger community and more collaboration around data analytics within the company, with users sharing new ideas and strategies for data analysis.
Financial reporting in record time
Before Incorta, financial reporting took 17 hours over the course of two days. This process now takes just 1.3 hours, making valuable data available by the next business day.
Accelerated development
Before Incorta, implementing complex changes from developers took ~8.5 days per cycle, per change (not including testing and feedback). With Incorta, it is now possible in just one day.
Dramatically improved user experience
99% of users rate Incorta as an improvement over the company’s legacy solution.
