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BI enables & transforms decision-making at Alchemy Capital


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1KEY BI enables & transforms decision-making at Alchemy Capital.

Comprehensive Business Intelligence Application helps analyze business performance data & assign future targets to a capital management company

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BI enables & transforms decision-making at Alchemy Capital

  1. 1. 1KEY Business Intelligence Customer Case Study Comprehensive Business Intelligence Application helps analyze business performance data & assign future targets to a capital management companyOverview 1KEY enables & transforms decision-Country or region: IndiaIndustry: BFSI making at Alchemy CapitalAlchemy Capital Management Pvt. Ltd.Mumbai, INDIA “BI solution has become critical to Capital now, enabling our end users from operations to analyze data effectively and take informed decisions with increased insights.” - Paresh Joglekar, AVP, Head - Operations, Alchemy Capital Alchemy Capital Management is the vision of Lashit Sanghvi, Ashwin Kedia, Rakesh Jhunjhunwala and Hiren Ved. Since its inception, the vision has grown in stature and currently manages assets in excess of 300 million USD. Alchemy Capital’s key strength is its experience. The company takesParesh JoglekarAVP & Head - Operations pride in the fact that since its inception, the clients haveAlchemy Capital Management Pvt. Ltd. commended them for a superior experience. Alchemy has earned these accolades by adopting practices that can beI.T. Infrastructure classified as best in its class.Enterprise ApplicationsMiles – Wealth Management SolutionDatabaseMicrosoft SQL 2005ETL:SQL Server Integration Services (MS SSIS)BI:1KEY Agile BI Suite
  2. 2. “1KEY BI provides the Challenge Why 1KEY BIflexibility and ease of The operations team at Alchemy Capital Following were the certain key featuresuse that our end users prepared monthly and daily MIS reports which led Alchemy Capital to choose therequire daily to analyze manually. There was a requirement to automate the daily and monthly MIS BI Product:trade and customer reports. At that point in time users were  Easy to create new reportsinteraction information, spending approximately one to two man  Scheduling hours per day to prepare a daily report  Access Control (report level and datathereby uncovering and six to seven man days of effort per level)insight that drives month to prepare the monthly MIS. This was due to lots of coordination amongst Implementation Planimprovements in our various team members and extensiveofferings. It supports manual adjustments. The implementation was mutually decided to be executed by one of the consulting &complex data analyses This gave rise for a need to go in for a Implementation partner of MAIAwith maximum Business Intelligence (BI) tool and speed Intelligence viz. Paramatrix Technologiesefficiency and is flexible up the reporting mechanism. Pvt. Ltd.enough to Selection of BI Scope of the Project:accommodate future  At first the scope was to read data from three applications which were cateringtrade volume and After evaluating various alternatives like preparing the same reports in original needs of different Business segmentsbusiness growth” system to various BI solutions available in of Alchemy the market, in May 2010 Alchemy Capital  On second stage, the scope included - Paresh Joglekar, AVP & Head - preparing twenty initially identified finally decided to close on the 1KEY Operations reports solution provided by MAIA Intelligence. Alchemy Capital The shortlisting was done based on The entire project was onsite at Alchemy vendor and product evaluation: Capital’s headquarters in Mumbai.  Service level capabilities of vendor  Extent of customization required The project team included implementation  Security Features consultant, implementation head from  Technology fit Paramatrix and Technical Team Leader  Performance and Technical Head from MAIA  Number of installations Intelligence.  Existing customer reference  Cost Ms. Pooja Keswani was the executive  Support & Service of the vendor sponsor for this BI project managed by Mr. company & its partners Paresh Joglekar and the entire process  Flexibility was carried out in co-ordination with Mr.  Scalability Naman Dhamija.  Capability of migration to another platform / solution Twelve numbers of users were given the  Hardware / Software requirement access to BI reports.
  3. 3. “Though we have Key Milestones of this BI Project: providing the additional functional  Requirement Gathering knowledge. Most of the time partner wasimplemented the 1KEY  Data Pulling able to provide the necessary service (likeBI solution just a  Report creating installation, configuration etc.). In case ofquarter ago, it has now  UAT  Go-Live product related support vendor (MAIA Intelligence) was always there to help inbecome an integral part all possible ways.of the daily operations Implementation Challenges Alchemy Capital has been using the newat Alchemy Capital. Since the technology required for BI solution since October 2010. It nowEven the top implementing the BI solution (SQL 2005) requires a minimal management. It is was already available, there was a managed by the internal IT team ofmanagement is using minimal technological challenge. Alchemy. In case a support is required, itsthe periodical MIS provided by Paramatrix Technologies. In areports generated from The most difficult part was to identify the source of the data to be presented. quarter so far, Alchemy has taken the support for roughly 5-6 times (half a daythis BI tool.” Identification of the data source was one each time). the key challenge. Many a times it - Naman Dhamija Alchemy Capital required the efforts of 2 - 3 days without Departments any success. This could be avoided by making documents upfront. Following functional areas were targeted with BI: The next difficult part was to consolidate  Daily variations in AUM (Assets under the data from three different sources. Management) figures from the lowest Since the source of new BI level (client) to company level (Alchemy Implementation was an existing Capital) including the business operational application (miles), any segments (Wealth, AMC etc.). This is change in the underlying application one of the key figures to be monitored required the changes in the on a daily basis implementation already done.  Cross sells. This gives us the idea about the investments done by the same But with the expertise from the vendor and client / family in the various business partner professionals, Alchemy could segments overcome the challenges.  Comparison of AUM, Revenue, Inflows and Outflows figures. This provides the IT team at Alchemy Capital played an necessary information like the trend of important role in helping the project team investment done by the clients on a set up the required technology. IT and monthly basis consultant were in constant touch so as to  RM wise performance review identify the required technology and set it up in the shortest possible time. Support & Service The implementation partner (Paramatrix Technologies) played a crucial role by
  4. 4. Benefits  Top Performer / Under Performers  Average Cash Balance Following are the benefits derived from  Churn Report the project:  Inflow / Outflow  The creation of the reports, which was  Category wise AUM v/s. Revenue taking a week’s time at the start of  RM wise Outflow v/s. Revenue each month, takes less than 2 days.  New client Inflows and Outflows  The required MISs are available by the  Product wise Flows 4th working day of each month to the  Cross Sell management  Daily view of the monthly MIS is also possible. This gives the fair bit of idea about the progress made so far in the current month Return On Investment 1KEY BI has come at a cost effective price-point, and hence has turned to form a great value proposition for Alchemy Capital. The IT is confident that company shall achieve ROI in the very first year ofImplementation Partners implementation of BI. Future Roadmap After using the BI solution for around a year, Alchemy Capital shall plan to extend the usage of the tool and roll out to theParamatrix Technologies Pvt. Ltd. wider audience in the coming months by+91-22-41518700 / 42725544 developing certain new reports and addingDevang Doshi +91 9820568243 few more users in the system.Email: Partial List of Reports Around 20 real-time reports created areFor More Information being used by 12 business users acrossFor more information about Operations at Alchemy Capital. The BI toolMAIA Intelligence products and solutions, is mainly intended for the MIS teamcall Sales Information Center at: responsible for preparing the periodic MIS(+91) 022 668 88 999 or e-mail us at: and presenting the business To access based on the same to the managementinformation using the Website:  Daily AUM ReportThis case study is for informational purposes only. MAIAINTELLIGENCE MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN  Scrip Position ReportTHIS SUMMARY.Document published MARCH 2011