Solution overview

CFOs: Transform your financial data management with Databricks Finance Data Hub

Unlock the full potential of your financial data with AI

The data challenge

In finance, CFOs often find themselves drowning in data, rather than insights. And while artificial intelligence (AI) just might be the life vest finance teams need, it's only effective with clean and reliable data. The answer? A robust system that can organize and manage their data effectively – one that easily turns overwhelming amounts of financial data into actionable insights. Like our Finance Data Hub.

Finance data powered by AI

Finance Data Hub, powered by the Databricks Data Intelligence Platform, helps solve data challenges by bringing together finance data from different areas across the organization, such as operations, supply chain, financial planning, tax, and treasury, and putting it all into one central platform.

Acting as a single source of truth, this platform gives finance teams access to near-real-time information that helps them manage spend, cash flow, and profitability. The result? Freedom from the time-consuming manual processes that typically mark the end of each month.

Here's how the Finance Data Hub takes financial data management to new heights

Streamlines data processes, reducing manual effort

Unified, scalable platform: Think of the Finance Data Hub as a one-stop shop for all your finance data needs. From gathering to refining to analyzing, the platform streamlines data processes and helps to significantly reduce manual labor, allowing finance teams to work on more meaningful, strategic tasks and less on data management.

Enhances predictive analytics capabilities, improving forecasting accuracy

AI and machine learning foundations: The Finance Data Hub provides a solid base for building AI and machine learning (ML) models. This sets the stage for CFOs to use advanced analytics to create predictive models that make financial forecasts more accurate. With this improved insight, they can make decisions based on reliable data.

Provides seamless integration and consistency across multiple ERP systems

Canonical data models: The Hub offers prebuilt data models for processes, such as record to report, order to cash, procure to pay, and financial planning and analysis. Our models are tailored for various industries, can be configured for your specific needs, and are built on more than fifteen years of Genpact financial expertise.

Enhances collaboration and speeds up time-to-insights

Collaboration: In finance, fast and informed decision-making is vital, leading to better financial outcomes. This is another area where the Hub shines, allowing teams like data specialists, analysts, and business managers to easily share insights and analyze quickly and clearly.

Helps the business adhere to evolving demands and practices

Strong data governance: Offering features like cataloging, lineage, ML governance, and security, the Finance Data Hub helps keep financial data practices in line with your requirements.

Accelerates data processing times, improving overall productivity

Performance optimization: The Hub enhances performance, accelerating data processing. This rapid data turnaround helps boost productivity and enables CFOs to react swiftly to financial changes, resulting in more timely decisions.

The Databricks advantage

While the Finance Data Hub excels at managing and analyzing financial data, Databricks' Data Intelligence Platform, built on an open lakehouse architecture, takes these capabilities to the next level by combining the best features of data lakes and data warehouses into a single platform. This integration breaks down frustrating barriers between data sources, making financial data management easy and accessible across the organization, all in one place.

Data governance: In finance, any compromise in data integrity can lead to incorrect financial reporting, risking financial loss and legal consequences. Not to worry – Databricks offers a comprehensive set of tools for managing data governance, including data quality, lineage, and security. This helps address regulatory requirements by keeping financial data as accurate, reliable, and compliant as possible
Advanced analytics and reporting: Databricks provides a powerful analytics platform that unlocks advanced analytics and reporting capabilities. This allows financial professionals to better understand their company's financial health, assess risks, and strengthen compliance, all of which lead to more strategic, data-driven decisions
Data sharing and collaboration: When it comes to financial data, the sooner different departments are on the same page, the faster the insights will flood in. Databricks' collaborative platform streamlines communications by allowing secure data sharing and collaboration with internal and external stakeholders, such as partners and regulators
Scalability and performance: Offering a scalable and high-performance setup, Databricks gives the Finance Data Hub the ability to handle large volumes of data and complex analytics workloads. This allows the Hub to deliver fast, reliable insights to CFOs, even as data demands grow
Cost-effectiveness: Databricks is a cost-effective solution for building and managing a finance data hub, compared to traditional on-premise solutions. Its cloud-based approach cuts overhead costs and allows for scaling resources as needed, helping CFOs manage budgets while having the flexibility to grow and adapt

Transforming customer support with Finance Data Hub

In the fast-paced world of life sciences, a pioneering company faced daunting customer support hurdles and dwindling productivity. Enter a visionary shift: a data-driven transformation that changed the game. We introduced a central lakehouse, converting disparate data into a dynamic analytics powerhouse. This innovation helped customer service representatives gain insights into each customer, fueling a surge in productivity. The result? Not just streamlined operations, but a strategic leap forward—enabling proactive, insightful customer engagement that redefined success.

Ready to revolutionize your financial data management?

The Finance Data Hub, powered by Databricks, is a game-changing solution that makes it easier to handle and access financial data – all in one place. By combining the best features of data lakes and data warehouses, it breaks down the usual barriers between different data sources and speeds up how quickly data can be used.

This not only helps CFOs and their teams make quick, informed decisions based on trustworthy data, but it also improves productivity and supports compliance with regulatory standards.

With advanced analytics, streamlined collaboration, and robust governance, the Hub gives CFOs the tools they need to respond swiftly to market changes, giving them an edge in the fast-paced world of finance.