Analytics and Collaboration Success Story

Healthcare Insurer Selects Budgeting Software

Business Situation

• The client is one of the nation’s largest BlueCross BlueShield healthcare insurance provider and is a leader in delivering innovative health care products, services and information to 2.8 million members.
• To meet continued competitive threats, the organization needed a more robust performance management capability. Over the course of three years, the client wanted to migrate from an annual Excel-based budgeting process to a monthly budgeting and forecasting process including near-real-time costing information and improved analytics and reporting.

Key Issues

• The client was in the initial stages of a three-year Enterprise Performance Management (EPM) initiative. Among the first tasks to be completed were (1) a thorough current state documentation of the budgeting & planning, benchmarking and activity based costing (ABC) systems and (2) the selection of new software to serve as the foundation for the entire three-year EPM initiative.

Outcomes

• By utilizing past experience and our own methodology, The Revere Group was able to successfully manage the entire process in less than three months.
• Members from various Revere practices (including BI, Lawson and Organizational Change Management) analyzed the existing Visual Basic & Excel-based budgeting application, the Lawson General Ledger & HR systems, the existing Sherlock benchmark reports, the Metify-based ABC system and the existing Business Objects reporting and scorecarding implementation.
• The client gained a detailed understanding of their existing EPM infrastructure and chose a best-of-breed toolset that would enable them to be successful throughout the three-year performance management initiative.