XY Planning
Case Study
XY Planning Upgrades Financial Planning with MindStream Analytics and NetSuite
As fee-only financial advisors, XY Planning has carved out a niche by specializing in providing expert financial guidance to Generation X and Y clientele. Their finance department, essential for their services, sought a refined and more systematic approach to their planning and forecasting.
The Challenge:
Despite their specialization in financial advice, XY Planning faced hurdles in their internal finance operations:
- Absence of an employee planning system, causing inefficiencies in forecasting.
- A pressing need to establish a robust Sales/COGS & Expense forecasting mechanism.
- An interest in enhancing their reporting capabilities for actuals and forecasts.
The Solution:
MindStream Analytics, well-versed in addressing such challenges, presented a comprehensive solution:
- Introduction of the "Workforce" module, enabling XY Planning to meticulously plan at the employee level, ensuring accurate financial forecasting.
- For better management of forecast and budget, the OpEx and Sales/COGs modules were integrated.
- SmartView was a pivotal addition, empowering the XY Planning team to craft their own customized reports, aligning with their specific requirements.
Outcome:
The partnership with MindStream Analytics bore fruitful results:- Successful deployment of the NetSuite Planning & Budgeting solution, tailored to fit the unique needs of XY Planning.
- A streamlined process was established, with data being loaded automatically. This transformed both their reporting and forecasting endeavors.
- XY Planning has proficiently adopted the Workforce and OpEx modules, using them to their full potential to enhance their financial operations.
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