SUCCESS STORY
Finastra Improves Services Business Visibility and Profitability With Kantata
Finastra is the world’s largest pureplay Financial Services software and applications company, working with over 8,000 customers, including 45 of the top 50 banks globally. Finastra’s purpose is to unlock the power of finance for every person, business and community, everywhere.
36%
reduction of cost leakage in first year
<9 months
Finastra's payback period for Kantata Cloud
INDUSTRY
CHALLENGE
EMPLOYEES
GOEGRAPHY
To support the growth of its professional services business, Finastra set out to find a solution that would provide a full financial view of projects, proactively help to reduce margin leakage, and optimize project management across the business. Adopting the Kantata Professional Services Cloud has given Finastra’s business leaders better data on which to make informed decisions, and has driven:
- Payback period of less than nine months, with Kantata quickly enabling services to drive significant improvements in efficiency and reduced margin leakage
- 36% reduction in cost leakage on projects in the first year, allowing teams to take corrective action and standardize best practices for cross-departmental project governance
- Increased decision-making confidence, with more and better data reducing the guesswork that goes into business planning and staffing
- Improvements in estimating and project planning, enabled by better insight into project performance
Challenge: Process Optimization That Could Not Be Supported by Legacy PSA
Finastra is a global business with around 8,000 employees. One of the challenges that can emerge in an enterprise business that has grown through numerous acquisitions, as Finastra has, is ensuring that groups are working in a standard and optimized way as they come together to deliver on a common objective. In essence, that employees, no matter where they are or where they came from, are operating as “One Finastra”.
The business needed a solution that could help bring services teams together around a common set of practices, from project planning to project execution, with teams across the organization operating with the clarity and confidence needed to make context-rich decisions that protect project margins. Operating as “One Finastra” would require increased visibility into forecasts and a higher degree of financial control, with better insights into which practices were causing margin leakage on projects.
“We can see pictures of the business that we couldn’t see before, and that enables us to anticipate, to track patterns, and to find solutions.”
Director, IT Enterprise, Finastra
Benefits
- Significant improvements in efficiency and reduced margin leakage
- Standardized best practices for cross-departmental project governance
- Increased decision-making confidence, with less guesswork around business planning and staffing
- Improvements in estimating and project planning