Financial Services

Modern BI

Savings from First Self-Service BI Project Spur Other Cost-Cutting Studies

Waiting on developers for crucial business insights can be costly. That’s why the internal spending and accounting division of a U.S.- based insurance trailblazer decided to take matters into its own hands. The forward-thinking group made the decision to step off the reporting treadmill – that endless cycle of business users asking developers for reporting revisions, waiting weeks for request fulfillment, then starting the cycle over by asking for additional changes. In the process of forging a new path, it discovered major savings.

By using this modern BI platform to study printer use, the internal accounting division found that certain practices were driving up costs. For example, say a department head prints 10,000 pages a year using a color printer directly outside their office. But everything that employee prints is in black and white. Using that color printer, even to print black and white pages, costs three times more than using a black and white model. Through its analysis, the division identified such wastes, then took corrective measures to cut costs. For a corporation that spends hundreds of millions of dollars annually on printing, simply rerouting the printer a person uses, or swapping printer locations, can result in millions of dollars in yearly savings.

The major return on investment from their first foray into self-service BI empowered the team to pursue exploration into other internal cost-saving analyses. And the technical solutions employed by the company and BlueGranite allowed the IT team to maintain that all-important single version of the truth – consistent information across the corporation – while allowing business users to explore, interact with and act on that information.

By partnering with this insurer, BlueGranite helped the corporation achieve its goal of empowering business users to take analytic exploration into their own hands –  giving them access to rapid insights that enable informed decisions.

Interested in ways your organization can leverage the latest information technologies to benefit your business? No matter what stage of development your data culture is in, BlueGranite can help. Contact us today to learn how.