Capco knows all about effective transformation. From its offices in leading financial centers across the globe, the business and technology consultancy helps its banking, insurance, and investment management clients to innovate, increase revenue, manage risk and regulatory change, reduce costs, and enhance control. The company’s philosophy is to challenge the norm by combining a disruptive design-thinking approach with intimate industry expertise and intutitive technology—which is exactly what the Capco finance team did when it came to transforming the company’s financial planning and analysis (FP&A) processes.
Struggling with rapid growth and demanding reporting requirements
Since 2010, when it became part of Fidelity National Information Services Inc. (“FIS”)—the world’s largest provider of payment processing services—Capco has enjoyed tremendous growth, with revenues increasing 20 percent year-on-year and staff numbers multiplying three-fold. Rapid growth and the exacting requirements of FIS (such as reducing the close cycle to just three days) placed tremendous demands on Capco’s existing FP&A processes, which were largely based in spreadsheets.
Even the weekly revenue and cost tracking report took three days to produce, by which time much of the data was already out of date. So Capco searched for a real-time solution that could sit above its current ERP system to connect all financial data into a single cloud-based platform—and selected Anaplan. Initially, the finance team addressed only profit and loss reporting, but its enthusiastic reception from the business led to pressure to quickly move the weekly revenue and cost tracking report into Anaplan as well.
Anaplan becomes the “one-stop shop” for all FP&A processes
Today, the weekly tracking forecast is updated in near real time, with management reports run just before business leaders need them. The success with these reports set the ball rolling, and Capco’s finance team rapidly moved on to tackle management P&L reports, which can now be generated in just 30 minutes at any time during the month. After that, attention moved to needs outside of the finance function as Capco moved their project management and sales pipeline planning into Anaplan, with their in-house team completing these implementations with minimal external support.
Pioneering the Anaplan “Center of Excellence”
With a growing number of Anaplan use cases, Capco has compiled a Center of Excellence with a team of Anaplan experts who are responsible for the design, build, training, and documentation across the business.
And Capco is not alone in using Anaplan in different parts of its organization. Internal Anaplan data suggests that 40 percent of customers use the platform for three or more use cases. These figures will undoubtedly continue to increase as companies move closer toward fully integrated business planning and expand the benefits of Anaplan into other parts of their business allowing collaboration and faster planning cycles to move the business forward.
Expect to hear more about setting up an Anaplan Center of Excellence in the near future. Meanwhile, watch Chanjala Sudhakaran, Director of FP&A at Capco, explain how the company benefited from moving multiple use cases over to Anaplan. With Capco currently into its fifth year of using Anaplan, Sudhakaran has a lot of best practices to share, including how to bring together users to form a Center of Excellence.