A long-drawn report
The Finance division of the company reviews business expenses and costs every month and sends an update to the management team, reporting the increase in actual expenses vs budgeted figures. Given the scale of operations, massive amounts of data were being generated across departments for various expense categories.
The process of extracting information from the database, cleaning the data, feeding it to an excel-based dashboard, reviewing every department and expense individually, interpreting the numbers, and preparing an update for review, was a manual effort that was proving to be quite a challenge. The company needed a product that could do all of the above, only faster, better, and without human intervention.
- The manual effort required to download and prep the data, analyze it, generate reports and distribute the same
- Expenses for each cost center were individually reviewed by the team to create the report
- The final report summarized updates sent to management over email. It was not too effective in flagging concerns or suggesting the next step
- Human interpretation of complex metrics was error-prone
- The archaic dashboard built-in Excel was limited in its use and depiction of data
With great context comes great visibility
Our team visited the company’s office to audit their in-house process and gather inputs around their data analysis needs. Based on our discussions with the Finance team, we created an automated Expense Analysis Report using Phrazor’s natural language generation (NLG) capability.
- The report was well-contextualized. It provided a clear breakdown of updates related to individual categories, namely Management Level, Site Comparison, and Cost Centers
- A separate section was set aside for updates on expenses contributing to overspends
- It also contained a section on Recommendations explicitly stating the next steps
- The updates were published in the form of dynamic commentary in an easy-to-understand language supported by visualizations
- The logic built into the automated report, focused on deep diving into the data to find the root cause of an increase in actual expenses vs budgeted
- Significant time and manual effort spent on data preparation, analysis and reporting, now saved with Phrazor’s NLG automation technology
- Report creation, generation, and distribution time have been reduced from 1 week to a few minutes
- 1 consolidated, auto-generated report has replaced a multitude of manually created reports
- Originally the entire team (30-40 employees) was involved in data preparation, analysis, and reporting. With Phrazor only 1-2 employees are required to generate reports on the fly
- The Phrazor-generated report provides visibility and ease of use with zero interpretation of complex data depicted as written insights
- Time invested in drilling down data to review numbers and interpret them reduced drastically due to automated narratives
- Easy-to-understand insights and actionable recommendations accelerated informed decision making across the company
A global leader in shipping services, the company provides integrated logistics solutions in 130 countries and employs over 76,000 people to meet customer needs across the supply chain.