Month End Close Processing

Month End Close Processing

Bring your householding process in-house with Alteryx

Opportunity

A regional bank was frustrated with the amount of time it took to process their household reporting every month end. It cost 100K a year to send their own data to a third party, which eventually gave back household reporting. There was little understanding into the underlying process, and it often delayed month end close.

Solution

Use Alteryx to take this process in-house by using its Experian Data package. Furthermore, create more up-to-date reporting around households at the bank. Create performance by period against plan and last year, with corresponding drillable detail reporting.

 

 

Results

Decreased month-end close processing by four days while simultaneously saving the department 70K in third-party vendor costs. 

 

Furthermore, the process itself was finally easy to explain to anyone, and the resulting analytics could be shared quickly, easily and in a centralized location for the C-Suite, marketers, and business.

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