For many CFOs, keeping track of the various workflow processes within their own building is challenging enough. But for Vincent Liew, it was a tactical nightmare to keep track of financial performances throughout Asia, Europe, the Middle East, and North and South America. As the chief financial officer of Aedas, Vincent Liew was responsible for monitoring financial performances throughout the company’s 27 locations.
As one of the largest architectural design groups in the world, tracking Aedas’s financial performance in 27 locations was extraordinarily challenging, admits Liew. However, the advent of the internet and new technology has simplified the process, allowing Liew and his team to monitor financial performance in real time. With over 2,000 workers and net revenues of over $200 million globally, Vincent Liew had to determine a way in which he could effectively monitor, track, and analyze data.
Creating a Customized Solution
When Vincent Liew first joined Aedas, the turnover rate in the financial department was extremely high, as professionals struggled with managing finances on a global scale in over two-dozen locations. In fact, it wasn’t uncommon for the finance team to leave the Aedas office at 11 pm night after night.
With so many funnels to keep track of, Liew finally determined inefficiencies in the process and worked to standardize the systems with new technology. Custom apps and business intelligence software allowed Liew to create a “Profit Funnel” for Aedas. This system that Liew himself designed meshes perfectly with Qlikview’s dashboard management technology.
With this customized solution, Liew and his team can monitor data, generate graphs, and analyze statistics in real time. And the best part? Aside from being more efficient, the solution is cost effective and allows the team at Aedas to be proactive about their financial health.
While there are many technologies available for companies to take advantage of, the lesson that CFO Vincent Liew and Aedas provide is the reminder that sometimes a custom application is the best solution. Unlike regular business intelligence software, customized applications perfectly fit each company’s needs and demands, thereby streamlining work processes better than any other technological solution. Is investing in custom applications the secret to your company’s success?