Financial Intelligence Platform: Driving Data-Driven Decision-Making Transformation

PUBLIC SECTOR

Background

A large Chinese state-owned energy enterprise, the company's main business covers coal mining, washing, processing and sales; production and sales of coal chemical products such as coal-to-liquids, coal-based olefins, methanol, and other products; as well as power generation, transportation services and other fields.

Challenges

In 2006, the client began systematically digitizing and organizing its financial information. As the scope of construction expanded, financial data continuously grew, resulting in a massive amount of data that placed a major burden on their systems. The finance department identified an urgent need to establish a data collection, transmission, and aggregation system across the entire business chain to manage and unlock the value of data. The platform would need to comprehensively enhance data governance capabilities, accelerating the construction of a data governance system, strengthening data standardization, deepening metadata management and master data management, and strictly controlling data quality.

Solutions

LPS built an industry-leading financial intelligence control platform for the client, integrating advanced Data Middle Platform (DMP) technology to help accelerate the construction of the data governance system, ensuring data quality, reliability, and security. The DMP will provide real-time, accurate data support, further empowering the company's business decisions and strategic goals while bringing their digital financial intelligence capabilities to new heights.

LPS helped the client establish an integrated control system to achieve strict cost control, emphasizing a holistic perspective of group financial intelligence management and decision-making. By integrating disparate data from various sources, optimizing data processing workflows, enhancing data security protection, and utilizing data visualization technology, the client can now access a bird’s eye view of their financial data situation through a unified large-screen display system. This system accurately, efficiently, and comprehensively showcases operational and financial conditions, monitors assessment indicators and key business metrics in real-time, and provides real-time, accurate, and comprehensive financial data support to enable scientific and evidence-based decision-making.

In constructing the platform, LPS prioritized data autonomy, security, efficiency, and open compatibility, while also ensuring flexibility, scalability, and resource availability. The platform is designed based on cloud-native microservices, using containerized deployment and horizontal elastic scaling to meet ever-evolving business needs and technical challenges.

Value created

The new financial intelligence control platform has effectively bridged the gap between vast financial data and management decision information for the client, achieving one-stop aggregation, deposition, sharing, and service of internal and external data. Information acquisition has become more comprehensive, timely, and accurate. The application of this system has significantly improved the company's financial management efficiency, transforming decision-making from being experience-based to data-driven. This effectively achieved the group's financial intelligence transformation goals, and strongly supported the company's digital transformation.

Additionally, the built-in data governance system comprehensively sorted and classified the company's internal data resources, providing clear insights into its data assets. This clarity aids in identifying and measuring data assets more accurately, providing a foundation for subsequent data management and utilization, while enhancing their value and competitiveness.

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