When Matt Lewis became the CFO at Claim Central, the office of finance had a spreadsheet-driven budgeting, forecasting and planning process. However, as a large-scale global claims solution business serving a diversified customer portfolio, Matt recognised the below challenges with a spreadsheet-driven process.

  • Highly time-consuming
  • Incapable to gain deep insights to support strategic decisions
  • Takes multiple days to do Scenario Planning
  • Lack of flexibility to produce reports on an ad-hoc basis
  • Higher need to provide timely, relevant, and accurate data for the stakeholders that operate in different financial years.

Therefore, Matt, together with Kiki Kang, the Finance Manager, reached our team at GK Horizons to seek a future-proof finance solution that adds value to Claim Central.

GK Horizons Team on Digitising Budgeting, Forecasting & Planning Process

GKH Consultants collaborated with the Claim Central team to design a unique model based on their requirements to transform their planning processes. From commencement to completion the process was smooth and successful. The project was completed on time and implemented in less than three months. Kiki provided the following feedback;

“…not only was the team knowledgeable and supportive, but they were also responsive and worked well with the Claim Central team.”

“…this was completed in less than 3 months. The timeframe was impressive.”

How Financial Transformation Brought Success to Claim Central

Claim Central was keen on Workday Adaptive Planning, one of our EPM/CPM vendors at GK Horizons. Adopting this new system to replace the previous spreadsheet-driven planning process brought many benefits to Claim Central. Mentioned below are a few.

  • A cost-effective and user-friendly solution
  • Increased efficiency in data collection
  • Ability to do Scenario Planning as soon as assumptions are updated to the system (easy to identify the impact for bottom-line, Profit & Loss and cash flow)
  • Reduced human/manual process errors
  • More accurate data for long-term decision making
  • Forecasts up to five years
  • Increased the capability to build reports that suit different audiences
  • Easy to prepare monthly/annual reports
  • Enhanced the reputation of the finance team for providing timely, relevant and accurate data for decision-making

GK Horizons is glad to be part of the financial transformation journey at Claim Central and looks forward to providing our continuous support when needed.

“GK Horizons understands our business well and provides support when we need it” (Kiki Kang, Finance Manager, Claim Central).