Planning and budgeting for banking
Banks need to optimize their planning and forecasting processes to improve revenue predictions and better control costs in order to stay ahead of competition.
Currently, plans are often developed using numerous Excel spreadsheets and legacy systems, resulting in a cumbersome, manual process that relies heavily on a few key individuals.
Because models are typically set up at business unit level, there is little standardization across the organization, and inconsistent data definitions lead to discrepancies.
Integrating actual data into the planning process is tedious and frequently done manually. As a result, plan creation takes a long time, leaving limited opportunity for meaningful analysis.
To make matters worse, missed opportunities can arise, hindering the ability to adapt quickly to changing market conditions.
While there is a strong need for better, more reliable insights into performance and solvency drivers, the planning process must also become significantly more efficient.
The good news? This is absolutely achievable!
Planning the future with CCH® Tagetik
Many banks have enhanced their planning, budgeting, and forecasting processes by adopting CCH® Tagetik.
With CCH® Tagetik, plans are no longer manually “created” but “generated,” freeing up time for analysis and enabling easy scenario modeling based on far more reliable and consistent data.
This data-driven approach provides deeper insight into key drivers, empowering banks to identify opportunities, better control costs, and quickly adapt to both internal and external changes.
Key benefits
- Analyse and standardize plans across the organization
- Automated process avoiding manual error prone work
- Driver based forecasting
- Automated integration with actuals process
- Data-driven plan
- Driver/model-based forecasts
- Improved insight into performance
How we can help
Our experts combine in-depth knowledge of banking planning processes with technical experience implementing CCH® Tagetik planning solution.
We can support you with:
- Implementing CCH® Tagetik planning and budget
- Providing several starter-kit planning models
- Functional application management services
