Scott Wise, Founder and CEOCost and Profitability analytics remains a prime requirement across industries, and creating a suitable model that complies with their diverse requirements is highly challenging. The use of varied solutions to meet these specific needs leads businesses to get caught up in different silos, and the lack of a common framework and governance structure makes them difficult to manage. This is where Armada steps in, with its software and consulting services expertise that enables companies to clearly understand the dynamics of the business with its cost and profitability analytics solution that provides business users a clear picture of multi-dimensional profitability, with one centralized source of analytics based on a common methodology. Armada has more than 25 years of experience in the consulting space which is invaluable to ensuring client success in implementing best practice solutions that meet each client specific business needs and accelerated implementations. With its combination of tools, talents, and technology, Armada provides a pre-built multi-dimensional profitability solution that is flexible to be tailored to each client’s specific situation, and delivers cost and profitability analytics, for customer, product, and reporting demands.
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.