Intersoft Lab: Financial Planning

Financial planning is a product for automating the preparation of plans for business areas of banking institutions, with the subsequent formation of a single financial plan on their basis.

2023

Automate goal development for financial planning

Intersoft Lab has expanded its financial planning solution to domestic platform "Contour." Update will help banks' financial services minimize the time and labor intensity of preparing an enlarged forecast plan and increase it validity. The developer announced this on September 27, 2023.

Financial Planning and Forecasting and Modeling are included in the domestic software platform "Contour" class Risk-based Corporate Performance Management (abbreviated RCPM-platform "Contour") for financial institutions. Both applications run on Financial data store "Kontur."

Financial Planning is designed to automate annual planning activities of banks. The application supports all stages of the financial plan preparation process: formation of a consolidated forecast plan, its decomposition by subdivisions, client segments, products and other analytics, filling in business plans, investment plans and business expenses, their consolidation into a single plan, its approval and approval.

The Prediction and Modeling application allows you to predict and model the status of bank portfolios and calculate various indicators based on this data, necessary in solving the problems of risk and profitability management, financial planning, transfer resource management, etc.

Preparation of a consolidated forecast plan is a starting stage in financial planning. The joint plan agreed with the shareholders serves as a target for detailed planning in business units.

Now, in the Financial Planning application, in addition to manually entering the summarized key figures forecast plan, it became possible to automatically calculate them using the application "Forecasting and Modeling." Use to calculate the forecast values of the key figures current and historical contract portfolios consolidated in the data warehouse bank.

Automation of the initial planning stage will help the financial services of banks:

• Improve the validity of planning targets by using reliable contract portfolios accumulated in the data warehouse to calculate them.
• Accelerate the receipt of a consolidated forecast plan and reduce the labor intensity of its preparation by using a single source of information under bank contracts - data storage - and eliminating semi-manual calculations.

Ability to configure and change automated scheduling technology

Intersoft Lab on July 18, 2023 announced that it had expanded its approaches to implementing the Financial Planning application in banks. Now financiers will be able to configure and change automated planning technology on their own without involving IT specialists.

The Financial Planning application is a key component of the domestic software platform "Contour" of the Risk-based Corporate Performance Management class for financial institutions. The application supports the key processes of annual planning of the bank's activities: preparation of a consolidated forecast plan, its decomposition by divisions, client segments, products and other analytics, filling out business plans, investment plans and cost estimates, their consolidation into a single financial plan, its approval and approval.

To prepare plans for the bank's activities, the appendix provides planning sheets. The composition of articles, key figures and analysts for calculating values for items, access rights, the approval route is set up for each planning sheet in accordance with the bank's planning methodology. The set of planning sheet settings defines an automated bank planning technology.

In the updated version of the application, financial services employees were able to independently create planning sheets, configure the composition of articles, indicators and analysts for them, choose ready-made methods for calculating the values ​ ​ of indicators and articles, or describe their own using the formula apparatus. In calculations, formulas can now refer to values from other planning sheets, forecast data, and actual data.

Thus, the updated application allows financiers to IT create an automated planning technology on their own without involving specialists and change it when modernizing methodological approaches. This reduces the time it takes to set up the application and adapt it to changes in the planning methodology, and minimizes implementation and maintenance costs. ON

2020: Adding a function to predict customer behavioural characteristics based on historical information

On March 11, 2020, Intersoft Lab announced the expansion of the possibility of applying predictive analytics for financial planning at the bank. The Financial Planning application has been supplemented with the function of predicting the behavioral characteristics of customers based on historical information.

Information on customer behavior is used to obtain a forecast of the state of the bank portfolio, on the basis of which the financial plan of the credit institution is formed. The updated Financial Planning application from Intersoft Lab allows you to apply not only expert assessments of customer behavioral characteristics, but also calculate their forecast based on historical data accumulated in the corporate repository. As a result of automated calculation, dependence on the human factor is reduced and predictive indicators become more justified. In addition, the effort to prepare the input data is minimized, and personnel are released for other planning tasks.

The presented functionality was tested in the 2020 budget campaign at one of the customers of Intersoft Lab. Based on the results of forecasting the behavior of customers in automated mode, a number of coincidences of calculated and expert assessments were found, but in most cases the bank chose the values ​ ​ calculated by the application, considering them more reasonable.

{{quote 'author = said Julia Amiridi, Deputy CEO of Intersoft Lab' Forecasting becomes an integral part of preparing the bank's financial plan. Our software helps customers forecast the status of contract portfolios, revenues and expenses for contract portfolios, risk losses, etc. We expect that the use of this functionality to predict the behavioral characteristics of customers will allow banks to improve the quality of financial planning and speed up its preparation, }}

2016

On August 9, 2016, Intersoft Lab announced the promotion of the Financial Planning application focused on banks.

With the approach of the 2017 budget campaign, a period of long and time-consuming Excel planning is coming for many banks. Intersoft Lab created the Financial Planning application with short implementation times and payback. It helps automate the preparation of plans for all business areas of the bank and the formation of an institution's financial plan based on them.

Product Properties

• A specialized application "Financial Planning" will help to automate the process of planning the bank's activities, including - to ensure the preparation of current consolidated versions of budgets in the context of market turbulence in 5-7 days.
• The application will provide flexible business planning and assessment of expected financial results in the context of a dynamically changing external environment. The application will help to collectively prepare plans for all major business areas of the bank, such as retail and corporate lending, deposit acceptance, investment activities, etc., and will automatically form a balanced financial plan on their basis.
• Automates multi-price planning, coordination and consolidation processes, miscalculation of the plan and forecast results taking into account various values ​ ​ of market indicators and internal standards (exchange rates, transfer rates, etc.).

The whole point of planning is to always have an adequate plan at hand, not divorced from life, that will help achieve the business goals set. To quickly reconcile planned and actual results, identify the causes of discrepancies and make the necessary adjustments to the activities. And in the event of sharp changes in the market, it was possible to instantly rebuild and move on to an alternative development plan. Intersoft Lab offers banks a financial planning application that is comparable to spreadsheets in terms of ease of development, but eliminates all its shortcomings. Our solutions are implemented in a short time and pay off quickly. The financial planning application is implemented in 4-5 months, and pays off in less than a year. Julia Amiridi, Deputy Director, Business Development, Intersoft Lab