Download - An Introduction to ORYX Software
“We make technology and
provide solutions that allow people to
process, analyse and understand
complex and large amounts of data…
quickly simply and cost effectively”
Approximately 70 million cups of coffee are consumed in the UK every day
We don't need to get too involved in the technical details about how coffee is made
… but we sure hate to get a bad cup
From Bean to Cup...
If we made coffee in the same way as we crunch data…
… would it be too cold?… would you send it back?… how would it taste?… headache or worse?
Standard Processes
Where’s The Pain? (The Usual Suspects)
ReceivablesExpensesAllocationsPlanningReconciliationsAdjustmentsMgmt ReportingConsolidationsExternal Reporting
Insurance-SpecificReservingQuota-shareBordereau ProcessingSolvency IIIPTClaims AnalysisReinsuranceProfit CommissionsRecoverables
Symptoms include over-reliance on spreadsheets, quality issues and long solution delivery times
(not on the list? Please let us know afterwards!)
The Enterprise Toolkit
We find that many processes are not well served by either spreadsheets, nor by centralised Business Intelligence and Reporting systems. Some clear challenges emerge:
Desktop Tools (Excel, Access) Server Tools (Bus Intelligence, GL, Reporting Systems…)
Lack of clear audit trail and evidence of process High technical barrier to automating most processes
Requires constant manual intervention Often requires multiple systems and teams
Inadequate for data processing tasks Functionality is too narrow for most users
Process delegation is difficult (skills / experience gap) Skills shortage because of specialist skills needed
Agility without control Lack of agility causing long solution delivery times
Common Challenges
Re-inventing the wheel
Solution Delivery and Support
Black box Syndrome
High Data Volume and Complexity
PERFORMANCE
Question…
“So, Are we using the right tools for the
work we do?”
What do we REALLY DO?
Four main data activities followed by analysis:
feedback loop
Data Acquisition
Validation
Data Processing
Presentation
Analysis, Review, Decision-making
Low
High
Value £’s t
Med
80%
20%
What Do We Need?
Why?
Agility Deliver and update processes quickly and cost-effectively
Controls Processes must run securely and in a controlled way
Data Access Immediate, fast access to data
Delegation Experienced staff must be empowered to delegate
Audit Trail So we know how our numbers are calculated and where they come from
Interactive Tools Users can interact with data and data processes easily
QA Detect, prevent and recover from data and process errors quickly
Support Reduce downtime – users must know who to call and what to tell them
User-friendly Users want tools that are user-friendly and intuitive to the tasks they do
RUN PROCESSES RELIABLY WITH A SINGLE CLICK
Welcome to ORYX
By combining a powerful toolkit with a robust controlled environment, ORYX puts the best of spreadsheet and traditional business system design onto the desktop,
delivering true on-demand analysis.
How ORYX Benefits Our Clients
ORYX BenefitsTrue Automation Reduce up to 95% of process timeFewer Spreadsheets Less reliance on spreadsheets for routine number-crunchingEffective Delivery Rapid internal / external project and feature deliveryBuilt-in QA Processes are self-validating, improving quality of outputNew insights Senior staff spend more time understanding the businessHigh Performance ORYX is tuned for maximum performance, out-of-the-boxReduced Costs Solutions are developed at a fraction of the usual costProcess Visibility Reduce the black boxes in your organisation, improving auditabilityReduced Risk With better quality reporting and a more productive review cycle
The Result
A short, value-focused
implementation delivers an
outstanding ROI
Success Stories
Project ORYX BenefitsPlanning • Replaced Excel/Access-based planning tool with an ORYX solution
• Process owner can configure budget rules as required• Merged UW and Expense plan creation into a single click process• Multiple plan versioning, with version comparisons• Continuous forecasting• Comprehensive analytics and automated reporting• Full income statement, balance sheet and cash flow plan output• Planning in original currency
Expense Allocations/ Reporting
• Rules-based allocation model• Exception reports showing transactions that could not be allocated• Automatic journal creation and reconciliation• Full reporting and drilldown to detailed transaction level• Automated all Cost / Profit Centres reports to a single click
Some Other Projects • Reserving / IBNR• Quota Share computations• System / GL reconciliations• IPT Transaction Matching
• Bordereaux Processing• Receivables Reconciliation• Finance database design /
implementation