The Challenge
A finance and accounting organization struggled with inefficiencies in their monthly reporting process, which relied heavily on manual workflows. The key issues included:
- Delays and Errors: Manual data processing resulted in long preparation times (10 days per month) and frequent errors, reducing confidence in the reports.
- Lack of Real-Time Visibility: Stakeholders were unable to access up-to-date financial metrics, which hindered decision-making.
- Communication Gaps: There was no clear translation of business needs to the technical data science team, causing project delays and scope misalignment.
- Accountability and Momentum: The absence of a dedicated facilitator or project manager meant progress often stalled, and deliverables risked slipping off track.
The organization needed a way to automate reporting, align stakeholders, and deliver the project on time while maintaining clear communication and accountability.
The Approach
AI Advisory Group stepped in to facilitate collaboration between the finance stakeholders and the data science team, bridging the communication gap and ensuring alignment with business goals. The strategy included:
Problem Translation: Worked with finance stakeholders to clearly define reporting challenges and goals. Translated their business requirements into actionable technical specifications for the data science team.
Facilitation and Accountability:
- Acted as the bridge between business and technical teams, ensuring clarity in communication and resolving misunderstandings quickly.
- Maintained momentum by setting milestones, tracking progress, and holding team members accountable to deadlines.
Project Management:
- Created and managed a project roadmap to ensure the initiative stayed within scope and on schedule.
- Provided regular updates to stakeholders and addressed risks proactively to avoid delays.
Stakeholder Engagement: Ensured business stakeholders were involved throughout the process, keeping them informed and aligned on priorities and timelines.
The Solution
Through effective facilitation and project management, the following outcomes were achieved:
- Business-Driven BI Dashboard: The data science team developed a dashboard based on clear, well-communicated business needs, automating monthly financial reporting and enabling real-time updates.
- Centralized Reporting Tool: Integrated financial data from multiple sources into a unified system to improve accuracy and visibility.
- Training and Adoption: Organized training sessions for finance teams to ensure they fully understood how to utilize the dashboard and maximize its functionality.
The Outcome
The project delivered measurable improvements, including:
- Reduced Report Preparation Time: Monthly reporting time was reduced from 10 days to less than 1 day.
- Improved Data Accuracy: The new automated system eliminated errors from manual inputs, enhancing confidence in the reports.
- Real-Time Access: Stakeholders gained real-time visibility into financial performance metrics, enabling faster and more informed decision-making.
- Project Delivered on Time and Within Scope: Thanks to clear communication, ongoing accountability, and proactive project management, the dashboard was delivered successfully, meeting all business objectives.
Conclusion
This success story highlights the critical role of facilitation and project management in bridging the gap between business and technical teams. By aligning stakeholders, maintaining accountability, and translating business needs into technical requirements, AI Advisory Group ensured the delivery of an impactful BI reporting solution that automated processes, improved data accuracy, and empowered the finance team to make data-driven decisions.
