Finanmadrid chooses QlikView to reduce time and costs in its processes
Customer Company Size
Large Corporate
Region
- Europe
Country
- Spain
Product
- QlikView
Tech Stack
- QlikView Server
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Analytics & Modeling - Real Time Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Real-Time Location System (RTLS)
Services
- Software Design & Engineering Services
About The Customer
Finanmadrid is the financial division of the Cajamadrid Group, and is part of the Caja Madrid – Mapfre Financial Services Bank. It offers financing for real estate and automobile purchases as well as the consumer sector via personal loans and credit cards. Its main areas of business are focused on: Automobiles, offering specialized products for vehicle and motorcycle purchases; Consumer, including (financing for) household appliances, kitchens, and other services; Direct Credit, with both personal loans and credit cards. Finanmadrid has witnessed high levels of growth since 2004, and in 2007 it achieved ranking as the fourth largest financing company in Spain, which it maintains to this day.
The Challenge
Finanmadrid, the financial division of the Cajamadrid Group, was facing challenges with its reporting system. The company's needs for a global, efficient, and optimal reporting system led its Systems Department to seek out an application that would improve both horizontal and vertical reporting. Given the complexity of its operating systems, which were divided up among various technological applications, the main requirement was to find one system that would link together data from all departments. Data were extracted on a monthly basis from the accounting department, the various business divisions, and the general administrative division, thus leading to a need for management reports that were more agile and could be produced more frequently. Greater flexibility was also sought when it came to implementing tactical decisions, the effectiveness of which had to be tested without the complexity of modifying accounting structures.
The Solution
After finding out about QlikView, a test version was created, which served as the basis for all subsequent developments. Only two people participated in this process, which lasted just one weekend. Once this initial step was completed, there was no problem in implementing the system, nor were any prior tests or comparative studies needed. The actual implementation of QlikView took place over an extended period of time. Panel boards were first developed for the consumer division, and for 50 commercial outlets across the country. Due to budget limitations, automated macro-based tools were developed internally, which allowed for the daily distribution of updated information. Once the company’s information systems department unified the application for the three business areas, the QlikView project was extended to the remaining departments. The “QlikView effect” then became clearly tangible: immediately accessible data for all decision-making processes.
Operational Impact
Quantitative Benefit
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