About Client
The client is Canada’s largest consumer finance retailer operating hundreds of stores across the country offering a wide range of financial services for their customers.
The Background
- Reliable cash management is critical for the financial services industry. Some businesses have a need for more complex forecast systems than the others. Especially in the financial services industry where the regulations are tight. Forecasts have a significant part to play in maximizing revenue. Hence, it is important to optimize cash management using cutting-edge technology.
The Challenge
- The client’s existing analytics system, which was used to estimate cash order quantity and end-of-day balance, was primarily based on analysis of limited store-wise variables. This resulted in suboptimal availability of cash and at times in surplus cash. This led to money lying unutilized or cash deficit that prevented lending activities to customers, causing losses in revenue.
