Manual reporting processes can be time-consuming and complex, as was the case for a company that was struggling to meet regulatory requirements set by the FSCA.

Old Mutual was required to compile a regulatory report every quarter, but the manual process of data capture and sourcing was taking close to nine weeks to complete. This put the business at risk of not submitting the information on time, with the potential for penalties imposed.

eBlocks, a leading provider of automated solutions, stepped in to help. We reduced the manual reporting cycle time from 9 weeks to just 2 weeks by automating the process. Our solution not only reduced the time spent on compiling the report, but it also eliminated the need for manual data capture and sourcing.

Eblocks reduced the manual reporting cycle time from 9 weeks to 2 weeks using an automated solution

The organizational setup of the company also added complexity to the reporting process.

The final report required multiple approvals across different business units, and there was no scalability for enterprise adoption. Additionally, compiling the information required the input of 25 people across the businesses.

eBlocks' solution addressed these issues by streamlining the approvals process and providing scalability for enterprise adoption. It also reduced the number of people required to compile the information from 25 to just a few.

The result was a significant reduction in the time and resources required to compile the regulatory report.

The company was able to submit the report on time, avoiding potential penalties and allowing them to focus on their core business. eBlocks' solution not only helped the company comply with regulatory requirements but also provided a competitive edge in the industry.