Effective use of Business Intelligence (BI) improves decision making at all levels of management. As a result, organizations are finding themselves highly dependent on utilizing this information to gain valuable and actionable insights into their operations. However, competition and adoption of faster, disruptive technologies have resulted in an even greater need to be able to seamlessly access data and have the ability to act on it in real-time.
Our client had an immediate requirement for improving their business intelligence and analytics capabilities. By developing an enhanced user interface and data management platform for dashboards and reporting, the client was able to apply real-time analytics into their decision-making process.
The existing client access portal provided a variety of important information to customers for insurance and investment products:
- Plan information – Total assets, total participant count, number of installments paid
- Performance Reports related to plans and investments – Plan detail report, investment positions, assets by day, plan rate of return
The existing portal was poorly designed leading to customer dissatisfaction. Shortcomings of the existing client access portal included:
- Delayed and unpredictable reporting
- Inability to schedule regular and automatic delivery of reports
- Deficiency in correlating and merging data from other sources
- Inability to retrieve information/reports regarding clients and their employees pertaining to products/services offered
- Inability to cross-plan report
- Lack of subtotaling capabilities
- Reliance on traditional reports versus dashboards and analytics
Virtusa provided a modernized, easy-to-use enterprise intelligence capability within an enhanced version of the client portal. Features of the solution include:
- Implementation of a single sign-on capability between the existing client portal and MicroStrategy for user authentication.
- New features including self-service functions.
The solution provided clear business benefits:
- 80% reduction in the number of customized reports created by the admin
- 70% reduction in calls to admin regarding problems/questions/statements
- 80% improvement in business units by providing the most commonly run reports
- Effective conversion of batch reports to real-time