Banque CIC delivers better reporting across its 36 offices around the world

Exchange rate pressure, volatile financial markets, and new and time-consuming financial standards require agile liquidity management. Banque CIC depends on effective decision-making based on accurate data. Its legacy Business Intelligence (BI) solution had become incapable of meeting requirements. For one, the previous solution didn’t allow the team to drill down costs to the individual receipt level. This made it challenging to report costs and performance outside the organization. As part of their search for a solution, the team wanted a tool to help them optimize cost-center structure, establish contribution costing, and allocate costs to and between departments. This optimization would not only improve expense management but also help improve internal compliance.

In just a few weeks, Banque CIC implemented its solution independently, supported by the Jedox Academy. The adaptability and ease of use were key. Jedox’s powerful modeling capability captured complex business rules without programming. This knowledge transfer allowed controlling to own its solution, empowering it to carry out future adjustments and extensions with confidence.

The controlling team sought flexibility to make costs transparent down to the individual receipt from new self-service cost-center reporting. With Jedox, the controlling organization could easily model the bank’s financial performance without constant IT support. Jedox’s integration with Excel made it intuitive for the finance team and helped speed adoption across the organization. And critically, because Jedox is unified, it provided far more than data discovery through writeback, planning, and modeling.

Banque CIC now has a flexible reporting solution that supports its business. Jedox unifies staff and organization al data with cost data in real time, providing full cost allocations and reconciliation with the bank‘s income statement. Management can see a true picture of activity costs and profitability with clarity to ensure transparency and communicate performance. Jedox enables fast error identification and correction, securing reliable and complete data. This promotes collaboration between departments, especially during month-end close. Self-service means users are empowered to present consistent and secure trusted data in their own format for departmental analysis while relying on a single source of truth.

Efficient scheduling, service orientation, and practical solutions make Jedox an agreeable partner.

– Didier Thomas, Head of Business Insight Services at Banque CIC

Users across the Swiss bank have different needs, so they use Jedox in the way that suits them best. The financial controller uses Jedox’s seamless Excel add-in to work in the familiar Excel environment. The internal auditor uses uniform risk management analytics to ensure consistency and transparency while meeting regulatory requirements. The cost-center manager uses Jedox web to analyze costs on standard reporting and drill through to individual entries. Executives use their mobile devices for a holistic perspective with highly visual insight on a single dashboard while traveling.