Allied Irish Bank (AIB) is a financial services group operating predominantly in the Republic of Ireland and the United Kingdom. AIB provides a comprehensive range of services to personal, business and corporate customers in target markets and have leading market shares in banking products in the Republic of Ireland.
AIB recognised that improving its planning, budgeting and forecasting processes was a key element in delivering the financial visibility required to drive its growth strategy within the bank's appetite for risk. For this reason, long-term strategic planning and forecasts was an important area of focus in this engagement. AIB's current process relied on large and complex Excel models used by its numerous business units. Moreover, the number of spreadsheet models made the consolidation of data very difficult and time consuming. The underlying assumptions were not consistent and widely understood across the group.
"…the things we will be able to do that we were not able to
do before will include (a) Streamlined loading of actual data
(b) Much quicker turnaround time for running a version of
the plan (c) Capability to do rolling forecasts in a
streamlined and structured way, significantly cutting down
the time to do it (d) Significantly less operational risk than
running a planning process in Excel."
The overall design and implementation of Oracle EPM Planning Cloud (PBCS) allowed AIB to address the issues that existed in the current models and processes. This began with a discovery phase to understand the challenges faced by each of the business areas (Mortgage, Credit, Deposit, Treasury, etc.) and legal entities (UK and US) to develop an "as-is" and "to-be" functional specification that ensured the solution delivered fit the unique needs of AIB. Qubix implemented the application using a "sprint-based" approach, releasing functionality every 3-6 weeks. The delivery was split across 7 Sprints, each sprint including weekly ‘Show & Tells’ and an end of sprint conference room pilot.
This engagement leveraged Qubix's Journey to Cloud methodology to achieve their finance transformation objectives - a best practice approach that combines our deep industry and technical expertise to design, implement and manage your migration to the cloud.
Why did AIB choose Qubix?
" Qubix provided pragmatic solutions and their PBCS knowledge and ability to execute on PBCS is very strong. The project executed in a smooth manner and Qubix were excellent overall. "
Chief Data Officer
Related case studies
Luceco plc ensures trust and confidence in their reports by reducing their dependency on spreadsheets with Oracle EPM Cloud Consolidation and Close.Read case study
London's largest housing association partners with Qubix to migrate their on-premises planning and budgeting application to Oracle EPM Planning Cloud in only 3 weeks for new efficiency, scale and insight.Read case study
Ocado adopted integrated planning, budgeting and forecasting solution covering finance, supply chain, and HR to support new business growth.Read case study