News – Abylon https://www.abylon.hu Data Analytics, BI & Collaboration for modern enterprises - Abylon Consulting Wed, 21 Feb 2024 17:04:23 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9 https://www.abylon.hu/wp-content/uploads/2020/04/cropped-abylon_favicon-32x32.jpg News – Abylon https://www.abylon.hu 32 32 Master data custom validation using the Rapid Platform https://www.abylon.hu/blog/master-data-custom-validation/ https://www.abylon.hu/blog/master-data-custom-validation/#comments Tue, 16 Jan 2024 14:58:23 +0000 https://www.abylon.hu/?p=15074 Use custom validation on Master Data to cut out avoidable time-consuming issues in your ETL pipelines and give instant error feedback to your Master Data Administrator!

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Cut out avoidable time-consuming issues in your ETL pipelines and give instant error feedback to your Master Data Administrator! We’ll show you how!

What is Master Data?

I’m assuming people who ended up on this post already know that, but just in case here is a quick overview of what is master data in case of FPnA.

(Feel free to skip this part!)

Master data is simply said essential, non-transactional data. Most of the time master data keep tracks of entities like customers, suppliers, products, General ledger, etc. and their attributes. They are mostly relatively slowly changing, and in on optimal world, they are kept and maintained in one place. ERP systems have them, Business applications have them, and Business Intelligence and Data Warehouse solutions use them as well.

In many cases, ERPs take care of the majority of master data, but sometimes more than one system has to access it, and even be able to maintain it.

If there are several systems with different “Master Data” like datasets, you have to keep track of the mappings of these. This is also a pretty common case when migrating from one ERP to another. For these purposes, Master Data like solutions – like the one in the Abylon Rapid Platform – outside of ERPs can be very helpful.

Giving instant feedback on editing Master Data

Give your Master Data Custom Validations with Abylon Rapid Platform! Enable fully custom SQL-based validations on your Master Data Tables!  

This functionality acts as a safeguard, preventing users from entering incorrect data and providing immediate feedback regarding the nature of any errors encountered. 

Why is this so important?

What can be avoided this way?

Consider a scenario where you discover during a crucial Year-End close that your report is missing data from the previous month. How is that possible? This could be due to an error made by someone modifying the master data, which wasn’t caught in time, resulting in report failure.

Here's what went wrong: 

  • A column had to be updated together with adding new data. The administrator failed to do that, and nothing prevented him/her from saving the wrong data.
  • The error appeared in the system later, but the system wasn’t monitored by the same person. This led to several days of downtime in the reporting system.

Why data validation is important in case of FPnA?

Reports and data pipelines often depend on some form of Master Data management. This could involve handling original Master Data or mapping data between two systems. These custom validations cannot (always) be done using simple database constraints.

Common situations where custom validations are beneficial include:

  • You must track the validity of records. Usually this needs manually adjustable From->To date columns, and you must check that if a new record appears with the same business key, the validity dates align with each other.
  • Dependence of one column's data on another, e.g., "Column A cannot be X if Column B is Y."
  • Within a certain group of data, an ordering has to be in place, or the values added cannot exceed a certain amount. For example: a group of data record’s value column should always be equal to 1 (when talking about percentages)
  • Restricting data in one table's column to the values found in another table's column.

Now consider the additional time spent without Custom Validations:

  • The lag between adjusting master data and running the ETL pipeline.
  • The delay from the error report being sent and read.
  • The time taken to gather information, consult key users or developers for support.
  • The time for key users or developers to identify the issue and contact the Master Data owner.
  • The Master Data owner making the necessary adjustments and rerunning the ETL pipeline.
With the custom validations implemented, users are prevented from saving incorrect data. They immediately receive feedback on any mistakes made, bringing the issue to a swift resolution. End of story.
Source: dilbert.com

Summary

Incorporating custom validations on master data through the Abylon Rapid Platform can save significant time and effort, leading to more accurate master data and a smoother, more efficient planning process. This feature not only enhances data accuracy but also streamlines workflows, making the entire planning and reporting process more effective and less prone to errors.

By automating validations and providing instant feedback, the Abylon Rapid Platform ensures that data integrity is maintained, reducing the likelihood of costly and time-consuming mistakes. This proactive approach to data management is key in today’s fast-paced financial environments, where the accuracy and timeliness of information are critical for making informed decisions.

MORE ON ABYLON FPNA

For more information check out some of our other blogposts about the Rapid Platform and our FP&A solution Abylon Rapid Planner:

Author of the post:

Zsolt Kreisz - Financial Controller in the past, now BI Developer at Abylon Consulting.
Linkedin Profile

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]]> https://www.abylon.hu/blog/master-data-custom-validation/feed/ 1 AI-Based Regulatory Repository: The Control System of the Future https://www.abylon.hu/news/ai-based-regulatory-repository-the-control-system-of-the-future/ Thu, 16 Nov 2023 14:48:16 +0000 https://www.abylon.hu/?p=14850 We are excited to announce our latest enhancement to the Docuflow platform. The Regulatory Document Module has been upgraded with an AI-powered regulatory repository.

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AI-Based Regulatory Repository within the Docuflow platform

At Abylon, we are committed to innovation and staying ahead with the latest technology. In our pursuit of this, we continuously explore ways to integrate cutting-edge technology into our offerings. In keeping with this commitment, we are excited to announce a significant update to the Docuflow Document Routing and Workflow Automation platform. As one of our latest enhancements, the Regulatory Document Module has been upgraded with an AI-powered regulatory repository that uses the OpenAI language model.

The rapid development of artificial intelligence (AI) in recent decades has opened up new possibilities for the automation of regulatory processes and intelligent decision support. The AI-based regulatory repository is an innovative approach that combines the latest developments in artificial intelligence with traditional regulatory frameworks, enabling organizations to respond more effectively to changing environmental and market challenges. 

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What is an AI-Based Regulatory Repository?

An AI-based regulatory repository is a digital toolkit that uses artificial intelligence to manage regulatory processes. This includes interpreting rules and regulations, monitoring compliance, and continuously adapting to regulatory changes. The system is capable of learning independently, constantly updating its internal regulatory databases, and adapting to new regulatory environments. 

How Does the AI-Based Regulatory Repository Work?

The AI-based regulatory repository uses artificial intelligence to manage regulatory processes. This includes the interpretation of rules and regulations, as well as continuously adapting to requirements. The system is capable of learning independently and constantly updating itself with internal regulatory databases.

The AI-based regulatory repository fundamentally relies on three main components:

  1. Data Collection: The system is capable of collecting and processing relevant regulatory documents, such as laws, regulations, and guidelines.

  2. Analysis and Learning: AI modules analyze the collected data, identify key requirements, and learn from the data to improve regulatory compliance processes.

  3. Automated Implementation: AI automates compliance processes, including decision-making processes and handling potential irregularities.

In practice, this means that users of the Docuflow platform’s regulatory module can now not only easily search within the internal corporate regulatory repository but also seek the assistance of an AI-based chatbot.

This Chatbot, utilizing the OpenAI language model, not only enhances contextual searching (enabling the search of documents or specific details of documents based on numerous characteristics) but also provides assistance with any questions related to documents stored in the regulatory repository. This innovation significantly reduces the time employees spend managing internal regulatory documents, facilitates the automation of regulatory processes, and supports intelligent decision-making, all while simultaneously improving the organization’s transparency and compliance.

Advantages of the AI-Based Regulatory Repository

  • Efficiency: AI can quickly process vast amounts of regulatory information, reducing the need for human resources.
  • Accuracy: AI reduces the possibility of human error when using information in regulatory repositories.
  • Adaptability: AI continually learns and updates itself, thus quickly adapting to new regulatory changes.
  • Decision Support: AI improves decision-making processes, ensuring that organizations always act with the most current information.

Future Outlook

AI-based regulatory repositories will continuously evolve, and as more organizations adopt them, they are expected to bring significant changes to regulatory processes. AI will be able to predict regulatory trends, helping organizations achieve proactive compliance. The expansion and integration of such intelligent systems will soon be essential in corporate risk management strategies, as well as in governmental and international regulatory frameworks.

Therefore, AI-based regulatory repositories can play a key role in managing future regulatory challenges and become fundamental elements of modern business and regulatory infrastructure. The balance of innovation and foresight in regulatory policy can ensure that these systems create added value for both companies and society.

 

Abylon Docuflow Platform

Abylon Docuflow is a SharePoint-integrated workflow automation platform that helps  to make document review and approval workflows more efficient, transparent and complience-friendly.

The Docuflow platform allows the creation of custom review and approval workflows, but also offers ready-to-use solutions (modules) for the most common enterprise document management processes. Examples of such processes include regulatory management, procurement, contract management and management submission.

MORE ON THE DOCUFLOW PLATFORM

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]]> UK market here we go – Abylon’s International Ascent https://www.abylon.hu/blog/uk-here-we-go-abylons-international-ascent/ Mon, 30 Oct 2023 11:14:42 +0000 https://www.abylon.hu/?p=14681 With immense pride and excitement we're announcing our next significant milestone: expanding internationally, beginning with the opening of our new office in the United Kingdom.

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Announcing Our UK Expansion and Career Opportunities

Opening up our UK office

In the ever-evolving world of business, dynamic growth is not just an aspiration but a testament to a company’s resilience, innovation, and commitment to excellence. At Abylon, we’ve embodied these principles, and it’s with immense pride and excitement that we announce our next significant milestone: expanding internationally, beginning with the opening of our new office in the United Kingdom.

Our decision to expand comes on the heels of a remarkable period of growth for Abylon. In the past two years, we’ve been recognized twice on the Financial Times FT 1000 list, highlighting Europe’s fastest-growing companies. Additionally, we’ve made our mark on the Deloitte Technology Fast 50 Central Europe list, showcasing our progress as one of the region’s rapidly evolving technology firms. These accolades aren’t just badges of honor; they reflect our team’s hard work, adaptability, and commitment to our vision. Coupled with our successful ventures across central and southern Europe, these achievements have laid a strong foundation for our leap into the UK market.

Stepping into the UK isn’t just about geographical growth; it’s a strategic choice to immerse Abylon in a market known for its diversity and economic vibrancy. The UK presents unique opportunities and challenges, and we’re eager to adapt our approach to meet the specific needs of this new audience. Our goal isn’t just to transplant our existing model but to evolve it, ensuring we remain as responsive and innovative in the UK as we have been in our existing markets.

Abylon career opportunity in the UK

As part of this new venture, we’re looking to hire an Account Executive/Sales Manager who understands the nuances of the UK market. This role is crucial — it’s about building relationships, understanding local dynamics, and adapting our offerings to meet regional demands. We need someone who’s not just experienced in sales and account management but also someone who’s ready to take on the challenge of introducing Abylon to the UK.

We’re proud of what we’ve achieved at Abylon, but we also know that our people are the key to our continued success. As we step into this new market, we invite professionals who are excited by the prospect of growth and change to join us. If you’re looking to be a part of a company that’s writing its next chapter, we encourage you to consider joining our team.

For those interested in being a part of our UK journey, we’re looking forward to hearing from you. Visit our careers page for more information about the role and how to apply. Here’s to a new chapter in Abylon’s story, one we hope will be as rewarding and successful as our journey so far. 🌍🚀

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]]> Case Study: Sales planning automation https://www.abylon.hu/blog/case-study-sales-planning-automation/ https://www.abylon.hu/blog/case-study-sales-planning-automation/#comments Mon, 18 Sep 2023 13:15:49 +0000 https://www.abylon.hu/?p=14312 The story of how we managed to automate the process of sales planning at a large software company by radically minimizing the manual work of the financial controllers.

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Below, you’ll find a detailed case study that offers an inside look into a planning automation project we recently executed for a major software company. For this edition, we’ve opted for a more narrative approach to provide a personal and insightful perspective. We hope you find this storytelling format both enjoyable and informative.

Project Background

Sales planning can be a daunting task, one that Julie knew all too well as she stared at the 22nd Excel file that had landed in her inbox that day. The seemingly never-ending process required intricate calculations involving #deferrals, #sales, and #revenues, all of which were pivotal to the sales team, and therefore the whole company’s success.

In a software company where sales were tied to various software licenses, the complexity of sales planning was undeniable. For Julie and the rest of the colleagues involved in planning, this process was slow, ineffective, involved a lot of manual work and to put it nicely, it was far from enjoyable. 

Business Challenge: Data Preparation and Calculation Complexity

The first challenge lay in the preparation of historical data for each customer group. It was no simple task. Sales representatives had to input the number of units to be sold, but Excel couldn’t instantly recalculate what this meant for Sales Amount and Revenue Amount. This meant that both Sales Amount (Quantity * Price) and Revenue (Sales Amount +/- Deferrals) had to be calculated for every planning period. Furthermore, sales teams had to predict Renewal rates and Price increases for each product in their region, which directly impacted historical data.

The enormity of this task became apparent, especially for customer groups with hundreds of thousands of records requiring calculations. Excel, on its own, couldn’t handle the complexity.

Exploring Solutions

Two major directions were considered to tackle this challenge: bringing the planner closer to the “tech” or bringing the “tech” closer to the planner.

Bringing the planner closer to the “tech”:

This approach involved having planners embrace new technologies. However, it was evident that not everyone was tech-savvy, and expecting them to learn new technologies for a process that wasn’t their primary focus seemed impractical.

Bringing the “tech” closer to the planner:

This approach aimed to provide a user-friendly interface for planners. While promising, it raised questions about design, tabular data handling, frontend development resources, and the learning curve for planners. Questions like:

  • what kind of design should we use?
  • how should one address the tabular data? Save each line? Recalculate on every mouse-move?
  • how can we display effectively more than one kind of tables which are related to each other?
  • how many hours of a Front-End development is needed, when will they be available?
  • who will create the design?
  • how will the planners learn the logic of the new design, and the new frontend, if it’s not intuitive enough?

By choosing Excel as the frontend, we addressed many of these concerns.

Our Solution

Given the complexity of the project it seemed a perfect case for Abylon Rapid Planner – the planning module of the Abylon Rapid Platform.

The Rapid Platform itself is a flexible, enterprise grade productivity platform for building Microsoft Data Warehouse or Data Lake based analytical solutions. On top of the platform, we created easy-to-deploy business solutions for the most common BI and data analytics scenarios. 

The planning module we used in this case includes enterprise-grade financial and analytical planning, master data management, querying and scenario-analysis. 

Abylon Rapid Planner offers Excel’s functionality scaled to the enterprise level. Database connections, automated data validation and easy business template creation – all to minimize manual work.

Implementing Abylon Rapid Planner effectively resolved all the key issues, with the exception of incoming data cleaning, as per the client’s decision due to ongoing source system discussions.

MORE ON ABYLON RAPID PLANNER

Results

  • Data Accessibility and Security

With the Abylon Rapid Platform, everyone can access their relevant data from within Excel securely. Unauthorized access is prevented, ensuring data integrity. 

  • Instant Recalculation

Once data is provided, recalculation happens instantly, eliminating manual work. This has a profound impact on reducing manual tasks during planning and forecasting periods, as well as significantly reducing waiting times for Sales Planners. 

  • Streamlined Planning Workflow

The platform simplifies the entire planning process. It eliminates manual data sending, consolidation, and recalculation. Custom data validations ensure data consistency, and plan versions can be easily tracked. The result is increased confidence in data accuracy and alignment with approved plans. 

  • BI Ready Data

No additional automatization process or consolidation is needed in order to provide data to a Business Intelligence system, since the data is already organized and stored in a database, and is ready to be ingested. 

  • Master Data Management

The Abylon Rapid Platform offers a central master data management solution. It removes the need for manual updates, ensuring data consistency across the board.

  • ETL Functionality

Our platform provides ETL functionality (like mass upload) within Excel and beyond. It streamlines data upload and integration, eliminating the need for external ETL services. 

Conclusion

In conclusion, the Abylon Rapid Platform revolutionizes sales planning by addressing the challenges faced head-on. It ensures data accuracy, reduces manual work, and streamlines the planning workflow. Say goodbye to complex Excel files and embrace a more efficient, user-friendly approach to sales planning!

If you’re ready to transform your sales planning process, contact us today to learn more about how Abylon Rapid Platform can benefit your organization.

For more information check out some of our other blogposts about the Rapid Platform and our FP&A solution Abylon Rapid Planner:

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]]> https://www.abylon.hu/blog/case-study-sales-planning-automation/feed/ 3 New digital signature module for the Docuflow platform https://www.abylon.hu/blog/new-digital-signature-module-for-the-docuflow-platform/ Tue, 18 Apr 2023 09:34:07 +0000 https://www.abylon.hu/?p=12851 Certified electronic signature module added to the Abylon Docuflow platform New important feature added to the Docuflow platform We are pleased to announce that we

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Certified electronic signature module added to the Abylon Docuflow platform

New important feature added to the Docuflow platform

We are pleased to announce that we have entered into a partnership agreement with Microsec Zrt, the leading provider of electronic authentication and signature services in Hungary. As a result of the partnership we can implement their electronic signature technology into our Abylon Docuflow workflow automation platform making it even more complete and easier to use for our customers.
From now on, all our business solutions built on top of the Docuflow platform are available with the e-Signó certified digital electronic signature. By implementing this technology decision-making during typical corporate document management processes requiring signature-confirmed approval such as procurement, contracting or regulatory management will become faster and more convenient. Using electronic signatures, these processes can be made more efficient and completely paperless, significantly speeding up decision-making.

More information about Docuflow’s e-signature module is available in the Abylon Solutions Digital Marketplace in the Abylon Store https://store.abylon.cloud

About the e-szignó electronic signature soltutions

Thanks to electronic signatures, it is now possible to create conclusive documents without using paper or pen. Forget paper contracts, printing, signing and mailing multiple copies of documents! Forget complicated and time-consuming paper-based administrative processes! Go digital, switch to electronic signatures!
The e-signature electronic signature solution allows you to create authentic, evidence-rich documents in an electronic environment, and deliver them from sender to recipient in a properly encrypted form, through a secure channel.

Eight reasons why you should switch to e-Szigno:

  • Because there’s no need to meet in person, send by post or courier.
  • Because you can create authentic, conclusive documents in a digital environment.
  • Because you can sign regardless of time and place.
  • Because it enables 100% paperless administration, which is cost-effective and environmentally friendly.
  • Because it meets all Hungarian and EU legal requirements.
  • Because it meets all the requirements for a credible eGovernment.
  • Because hundreds of pages of electronic documents can be signed by several people in a few minutes.
  • Because it can be copied indefinitely and all electronic copies remain authentic.

Abylon Docuflow - Faster, more efficient, compliance-friendly review and approval

Abylon Docuflow is a SharePoint-integrated workflow automation platform that helps  to make document review and approval workflows more efficient, transparent and complience-friendly.

The Docuflow platform allows the creation of custom review and approval workflows, but also offers ready-to-use solutions (modules) for the most common enterprise document management processes. Examples of such processes include regulatory management, procurement, contract management and management submission.

MORE ON THE DOCUFLOW PLATFORM
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]]> Abylon is among Europe’s fastest growing companies yet again https://www.abylon.hu/blog/abylon-is-among-europes-fastest-growing-companies-yet-again/ https://www.abylon.hu/blog/abylon-is-among-europes-fastest-growing-companies-yet-again/#comments Mon, 27 Mar 2023 15:03:54 +0000 https://www.abylon.hu/?p=12687 Abylon is a Financial Times 1000 Fastest-Growing Company – yet again! Dynamic growth appreciated by Financial Times Coronavirus pandemic, turbulent global economic situations, growing labor

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Abylon is a Financial Times 1000 Fastest-Growing Company - yet again!

Dynamic growth appreciated by Financial Times

Coronavirus pandemic, turbulent global economic situations, growing labor shortage in IT. Despite all of those difficult circumstances the dynamic growth of Abylon is still constant and we’re once again among the high-growing companies that are leading the pack!

As a recognition of this dynamic growth, after last year Abylon Consulting is once again included in Financial Times Europe’s fastest-growing companies list. The list contains the fastest growing companies in Europe. To be included in the list, companies must meet several criteria, and the ranking are based on the highest compound annual growth rate (CAGR) in revenue of the last 5 years. This year’s minimum CAGR cutoff was 36.5%.

That’s why it’s a big deal if a company makes the yearly list multiple times. It means that the early momentum of growth – usually typical for a young, start-up company – can remain continuous even after the first few years.

After last year’s 107th place, this year Abylon Consulting landed on the 203rd place, making us the 4th highest among Hungarian companies (after last year’s first place). Click here for the complete FT 1000 list!

Last year, after making the list, we said that “we hope that although we are on this list for the first time, it will not be the last”. We managed to accomplish this now, but we are confident that we will have something to celebrate next year as well!

Our position on the FT 1000 list is a testament to the hard work and dedication of the entire Abylon Consulting team. Another huge thank you goes to all our customers who trust us with their projects again and again. We will try our best to keep earning this trust!

Would you like to work at Abylon?

If you think you would like to work for at Abylon, take a look at our career page and our current open positions! If you don’t find a suitable position, you can still upload or send us your CV because there are constantly new open positions.

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]]> https://www.abylon.hu/blog/abylon-is-among-europes-fastest-growing-companies-yet-again/feed/ 7 Abylon Consulting on the Deloitte Technology Fast 50 list https://www.abylon.hu/blog/abylon-consulting-is-on-the-deloitte-technology-fast-50-list/ https://www.abylon.hu/blog/abylon-consulting-is-on-the-deloitte-technology-fast-50-list/#comments Mon, 28 Nov 2022 14:14:39 +0000 https://www.abylon.hu/?p=12152 Abylon Consulting is listed on the Deloitte Technology Fast 50 Central Europe 2022 list that ranks the 50 fastest-growing technology companies in Central Europe.

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Abylon Consulting making the Deloitte Technology Fast 50 list

Abylon is once again among the fastest growing companies in the region

Christmas came early this year for Abylon. We’re super proud to announce that after making the FT 1000 list (Financial Times list of Europe’s Fastest Growing companies) in early 2022 we’re ending the year making the Deloitte Technology Fast 50 Central Europe 2022 list. That means that Abylon Consulting remains one the most dynamically growing company both, in Central Europe and in Europe overall. Check below for more information on the Deloitte Techology Fast 50 list or download the full official report. 

Once again we would like to thank all our colleagues here at Abylon Consulting for their hard work, dedication and creativity that are the foundations of our success. We also like to thank the growing number of our clients who keep choosing us (most of them again and again) for their projects and without whom we definitely wouldn’t  be on this list.

The Deloitte Technology Fast 50 CE list

“The Deloitte Technology Fast 50 in Central Europe is a programme that recognizes and profiles fast growing
technology companies in the region. The programme, which is now in its 23rd year, ranks the 50 fastest growing public or private technology companies. The Technology Fast 50 award winners must meet a number of criteria and then they are ranked based on the revenue growth over the last four years.

Our story and our Solutions

Abylon Consulting is a young and rapidly growing software development and consultancy company. We offer innovative IT solutions for collaboration, business intelligence and data analytics. Our solutions range from modern data warehouse and business intelligence tools, through Power BI-based planning tools, to enterprise document management and workflow automation solutions.

We have a long history with Microsoft (our founders and management are all ex Microsoft) hence many of our solution are based or tightly integrated with the relevant Microsoft data analytics and BI products.

For more information on Abylon visit our About us page.

CHECK OUR SOLUTIONS

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]]> https://www.abylon.hu/blog/abylon-consulting-is-on-the-deloitte-technology-fast-50-list/feed/ 11 Case Study: IFRS evaluation based on mass user input https://www.abylon.hu/blog/case-study-ifrs-evaluation-based-on-mass-user-input/ Fri, 01 Apr 2022 12:10:45 +0000 https://www.abylon.hu/?p=9627 Excel-based claim evaluation and forecasting using Abylon Rapid Planning. Less manual work and more transparency!

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About our client

Our client, MKK Zrt. (Hungarian Claims Management Center), is a leading player in the Hungarian receivable management market. As a comprehensive manager of receivables, MKK Zrt. specializes in managing both retail and business receivables, as well as engaging in factoring (financing) activities. Essentially, they purchase various claims and endeavor to recover them.

The work involved in our client’s sector typically requires substantial manual effort from case managers and controllers, prompting a need for a solution to streamline and automate these processes.

Business Challenge

MKK manages claims that are assessed based on their purchase price and face value. Following this assessment, case managers must estimate the expected cash flow from each claim. Previously, the financial control team expended significant effort on manual tasks associated with forecasting claim management.

The process for managing each claim was the following:

  • The controller requests the factual data from the system and enters it into an Excel file
  • The spreadsheet is sent out to the case manager via email or uploaded into a file share
  • The case manager sends back the necessary claim data within a certain deadline (if this happens slowly, the factual data might need to be updated)
  • In their own Excel file, the controller edits, consolidates and calculates data, creating the necessary case value
  • There is no validation, whether the case manager accidentally or on purpose changed the fact data
  • The calculation is double-checked by the controller

Typically, processing each claim could take up to two hours, not including additional time for validation checks, which added several more hours to verify factual data and calculations for hidden values or functions.

With around 80-100 custom claims, the time spent on manual and inefficient tasks was substantial, particularly during high-stress periods like the financial year-end.

Moreover, it was always questionable if the current version of the Excel file is the final one or not.

Another concern was the auditors’ desire for a more secure tool, as Excel’s “open” nature allowed unrestricted data modifications (anybody can add or edit the data).

Solution

The project was divided into two sub-projects built upon each other. Initially, Abylon had completed a classic BI project for MKK, migrating data to a new database, which served as the foundation for these subsequent projects. This new database was the foundation of these two projects.

Phase I. - Creating a paginated report using SSRS technology

We developed a paginated report for group claims by re-creating all data and calculations from the initial Excel files, such as IFRS-based claim evaluations and net present value (NPV) reports, using SQL calculations.

This resulted in an Excel report displaying only the numbers, with the underlying calculations hidden. However, the auditors’ lack of SQL knowledge made this solution a but of a “black-box” to them.

Phase II. - Individual claim management using Abylon Rapid Planner

Here the primary goal was to create the Excel files employing standard ETL technology (e.g., SSIS) iat a specific time, similarly to the group claims, but with some additional information (there are multiple weighted values for the expected cash flow).

 

A customized Excel template was developed for case managers using Abylon Rapid Planner, automatically populating it with factual data. Case managers then added necessary claim data received from debtors.

The evaluation conducted within the same template now included visible calculations in Excel, generated by SQL for formulas and cell references, enhancing process transparency and comprehensibility.

Results

The new setup significantly eased the controllers’ workload by automating several steps in the process and saving considerable time previously spent on monotonous, repetitive manual tasks. Moreover, the adoption of Rapid Planner significantly increased the transparency of the whole process.

With the new system:

  • The first two stages of the case evaluation process is fully automated saving a lot of time.
  • The work of the auditors is easier. They work with generated data – which means it can’t really be messed up.
  • A specialized report tracks claim and data submissions.
  • Greater transparency is achieved as all calculations and formulas are visible.

About our Financial Planning Solution

If your company relies on Excel for financial planning and forecasting, consider our solution, Abylon Rapid Planner. It enhances the familiar functionality and flexibility of Excel, scaling it to meet enterprise-level needs, ideal for spreadsheet-based financial planning, budgeting, forecasting, and control across businesses of all sizes.

MORE ON THIS SOLUTION

For more information check out some of our other blogposts about the Rapid Platform and our FP&A solution Abylon Rapid Planner:

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]]> Abylon Consulting is among Europe’s fastest growing companies https://www.abylon.hu/blog/abylon-consulting-is-among-europes-fastest-growing-companies/ Fri, 04 Mar 2022 16:34:27 +0000 https://www.abylon.hu/?p=9178 In recent years we established ourselves as one of the most innovative and dynamically growing IT company in the region. Our dynamic growth was recently recognized when we made it to this year’s FT 1000 list.

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Abylon's dynamic growth is recognized

Building on our successful projects and the growing number of happy customers we are establishing ourselves as one of the most innovative and dynamically growing IT company in the region. This dynamic growth was recently recognized when Abylon Consulting made it to this year’s FT 1000 list. This list is created and published annually by Financial Times in cooperation with Statista and contains the list of Europe’s Fastest Growing companies. With our 107th place we almost made it to the TOP 100 companies. However, we’re the highest rated company from Hungary which is a huge success on its own. We’re hoping that although this is the first time we appear on this list, it won’t be the last.

A huge thank you goes out to all our colleagues for their hard work, to our partners and least but not last thank you to all our clients, who believe in us and who entrust us with their projects!

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]]> Case Study: Go-live for video HR solution based on VideoCC https://www.abylon.hu/blog/go-live-for-video-hr-solution-based-on-videocc/ Thu, 09 Sep 2021 21:25:20 +0000 https://www.abylon.hu/?p=9186 We're delighted to announce that MVM launched its new video-based HR solution that it built using VideoCC - our Video call center platform.

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We are really proud to announce that recently one of our dear clients – the MVM Group (a predominant player of the Hungarian energy system) launched their new video-based HR system. Why are we so delighted? Because Abylon VideoCC – our video call center platform – is at the core of this system.

Benefits of a video-based HR solution

With the new video-based solution, MVM HR can securely assist their all of their employees no matter where they are (at the office, at remote locations or at home) or what device they are using (company or personal computer, laptop, or mobile device) as long as the device has internet connection and a working webcam.

As a result, even the blue-collar employees who typically do not work in the office and do not have company computers or accounts can contact MVM HR using their own devices, while still ensuring all the necessary authentication requirements (using both: the built-in two factor authentication and the visual video-authentication).

Previously these employees from all over Hungary needed to travel to the central offices to deal with any HR related issues. Now they can do it in a matter of minutes from anywhere.

Moreover, the new solution – similarly to a traditional call center – receives all the video calls and then automatically distributes them to the available HR colleague, ensuring quick and effective processing. This approach will not only modernize and speed up HR processes and align the solution to the growing number of remote workers, but will also present a viable, risk-free option in case of a situation like the corona virus pandemic.

About VideoCC – our video call center platform

The usage of VideoCC for HR purposes shows how flexible the platform is. Due to its modular build, web-based approach, and our rapid implementation framework it can be customized to fit multiple use-case scenarios. In a matter of weeks, you can have your own video-based customer call center, video-based HR platform, video bank or telemedicine solutions. For more information on VideoCC click on the button below.
CHECK PRODUCT PAGE

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