Scott Wise, founder and CEO of Armada Solutions, explains, “We have a talent base of experienced consultants, whose business expertise with regard to measuring financial performance and cost to serve proves priceless in helping our clients optimize profitability.”Large Fortune 100 and Fortune 500 companies mainly to financial services, banking, asset management, loss management, and insurance are highly diversified and complex, which makes it challenging to create one product that will serve them all. Armada seeks to deliver and deploy analytics to drive more profitable business behavior, optimize profitability with better business analytics, providing insights to specific customers and products, and a leading practive method for measuring profitability.
A decade ago, Armada embarked on the journey to build its own cost-modeling software, Acumen Cost Analytics, to simplify the process of cost analytics and provide an agile tool, manageable by financial analytics professionals. This software provides cost transparency and aids clients in controlling the profit equation by making more informed decisions. A core profitability solution followed suit that collected information around individual customer accounts and modeled performance from the data. From these, profitability calculations can be measured out in a multi-dimensional manner.
The clients could then focus more on product re-engineering, customer relationships, pricing and incentives, leveraging a consistent methodology. Following this, the performance management ledger was built to support finance in providing complete traceability from general ledger reporting to management accounting.
We have created a firm where talent, tools, and technology converge, to accelerate the delivery of profitability analytics that provide actionable insights and improved financial performance
Even as Armada has created its own software solutions, it can integrate easily with pre-existing analytics solutions from leading players like IBM, Oracle, SAS and also integrate with the client’s current applications to deliver the required results.
Armada’s in-depth analysis of organizational requirements and providing precise details regarding unit costs proved beneficial to an organization with multiple operational sites struggling to make an outsourcing decision. They were troubled with the operational cost and had an outsourcing bid 25 percent less than the expected average cost. Armada’s solution helped the company realize that the exception processing on several sites was the root cause of the increased expenses. With deeper insights from the analytics on standard and exception processes and minimizing the latter, the client realized savings that self funded the enterprise implementation.
Armada’s vision is to create highly flexible technologies and solutions that increase the speed-to-value, and return on investment. As clients frequently have difficulties in handling the data aspect of performance analytics, Armada has built data quality tools that conform to a common master data management strategy providing a true end-to-end solution for financial performance management. “We wish to expand our solutions for the Finance functions in all industries and for clients of all sizes, including on-premise, cloud based solutions and managed services,” concludes Wise.