Business today runs on data. Data is the lifeblood of organizations. Information is powerful to a management team that knows how to use it. However, the data used to supply such information is critical to be accurate, complete, and meaningful. Organizations struggle with cost effective solutions for data management and reporting. Our professionals are expert in the area of data management and quality. We know how to design and implement data management solutions for business unit and IT groups within organizations. We’ve implemented cost-effective solutions for a wide range of large and small financial services clients.
Accordingly, our structured methodology to get to the root causes for data and data management challenges. We collaborate closely with our clients to:
- Understand sources and uses of data
- Assess the quality of data
- Understand the flow of data – where and how it’s used
- Identify what management reports are really critical to the business
- Identify the key business drivers and risks that management needs reporting upon
- Assess the controls to ensure data quality and its’ appropriate use
- Identify critical data of the company and groups accountable for the quality of critical data
- Document the interaction of the business units and IT on managing data and technologies to do so
- Identify gaps in data quality, processes, organization and technology to control data
Our methodology yields results pointing to specific issues and actions organizations can take to improve the management and quality of data. We provide solutions that clients can implement in a cost effective manner. Our solutions are practical and innovative, not “pie in the sky”. Our solutions solve our client’s challenges such as:
- Implementing or improving controls for data quality and processing/movement
- Establishing or enhancing processes for managing data
- Providing benchmarks on data quality for comparison to industry norms
- Implementing analytics and technologies for measuring, improving and controlling data
- Setting up or co-sourcing organizations for the management of data
- Defining architectures and technologies for better managing data and data quality
Data is the lifeblood of financial services organizations. The Hilltop Companies has the exceptional expertise, demonstrated results and innovative background to solve most data management and reporting challenges faced by our clients.
As part of the data management issues, our teams can assist you with critical questions that your company should assess regarding its current reporting:
- Does executive management have reports and data that identify the critical business indicators?
- Customer satisfaction
- Do reports contain “exception based” reporting content? Information reported based on the data meeting certain criteria.
- Is your reporting timely enough?
- Is your reporting dependable or are there many explanations for anomalies?
- Do managers use the reports generated?
- Is the time to create the management reports significant? Is it a good use of the creator’s time?
- Is “decision engine” technology used to support/supply the reporting?
If the answers to any of these questions are No or Not Likely – there are opportunities to enhance your data management and overall reporting.