In the last decade, banks simply relied on monthly financial statements balance sheets, income statements, branch revenue and expense reports – as the only measurements of performance. But in the era of increased financial sector regulation and advance technology adoptions that impact customers and revenue, more and more data are available as of today, businesses are now taking a more rigorous, in-depth approach to managing corporate performance.
FinTrak Enterprise Performance Insight (PI- 360®) solution framework enables pervasive operational and financial performance management across an entire business. With FinTrak, Banks can create a true culture of visibility, accountability, and performance enhancement with performance management solution.
The PI- 360 reporting tool facilitates organisations to make quick strategic and tactical business decisions that would increase productivity at the long run. The new FinTrak PI-360 is a robust business intelligence (BI) solution that enables organisations to gain deeper level of insight, flexibility and scalability to grow. Empowering users with the right information to make critical business decision and inherently deliver business value (Revenue and profitability, customer retention and acquisition, operational efficiency), resource productivity, and IT effectiveness.
Not leaving anything out, FinTrak Limited understood that in this Post-Covid-19 workplace, many executives might be working remotely. This scenario has given the Pi 360 solution an edge or advantage over others. Apart from being bespoke or customised to suit individual client’s needs, the software allows performance reports to be accessible via their mobile devices be it smartphones or tablets thereby aiding those executives that are working from home or remotely and increasing the productivity of their organisations.
Some financial institution such as Banks use a process to measure the performance of different business units (deposit-raising units and funds-advancing units) known as “transfer pricing.” The transfer pricing process is made easier with the deployment of Pi 360 solutions, the process is automated which reduces human error by 99.9 percent and also makes the process seamless and faster.
Speaking of the solution, Bimbo Abioye, group managing director of FinTrak, said: “Performance Insight (PI360) is a web-based Enterprise Performance Management Suite, modularised into various Financial Management Modules. The new FinTrak PI – 360 will not just enable users manage performance, it will improve it! The solution is designed to empower users with varying needs for information across enterprise. Strategic units can now generate related profiled reports perform avalanche of analytics leveraging on the single source of data.”
He added that “Being an integrated FinTrak ERP platform that primarily focuses on the numeric information that can be extracted, it also processes the capacity to integrate with third party Enterprise Resource Planning systems (ERPs) and data warehouses, FinTrak eliminates the usual problem of independent systems unable to cooperate with one another and exchange data. By implementing FinTrak PI360, interoperability of systems is built for exchange information between systems and consumed by multiple users and business units from a single source.”
“Without mincing words, the Fintrak MPR is a blend of the Enterprise Management Performance Reporting, the optimized daily Management Profitability Reporting, Balance Scorecard. “FINTRAK Pi360 solution integrates seamlessly with your existing investment to help you mitigate against waste and loss,” Ladi Ipaye, executive director, Business Development, concluded.
FinTrak Software is a global Financial Technology organization providing innovative technology and business solutions to financial institutions in the financial services sector and enterprises across continents.
With about 120 staff inclusive of over 90 Software Engineers based in Nigeria, FinTrak has successfully implemented over 100 technology solutions for various enterprises engaged in Commercial Banking, Mortgage Banking, Insurance and Manufacturing across: Nigeria, Benin, Togo, Cote D’Ivoire, Gambia, Sierra Leone, Ghana, Senegal, Rwanda, Congo and Zambia.
