PlainsCapital: Nationwide Bank Reduces Data Consolidation Time by 92 Percent, Makes Faster Decisions
As PlainsCapital grew from a community bank to a nationwide financial institution with US$5.7 billion in assets and operations in 40 states, it outgrew the financial reporting system that had helped fuel its success. Data from its three operating companies was difficult and time-consuming to consolidate, update, and analyze. To overcome these challenges, adopted scalable, enterprise-class corporate performance management software from A3 Solutions running on Microsoft technologies. It made a good choice. The bank can now produce the consolidating financial statements and generate cost allocations in an hour - down from three days. The data is then instantly available to create detailed reports that can be analyzed more easily and thoroughly. As a result, executives and managers spot trends faster and make better, more data-driven decisions.