Tryg, one of the largest non-life insurance providers in the Nordics, struggled with slow and laborious #forecasting using manual Excel models. Migrating to the Jedox Cloud #EPM (Enterprise Performance Management) solution helped Tryg accelerate forecasts and free up finance teams for value-add analysis.
Legacy Models Hamper Agility
Collecting data and creating quarterly forecasts took around 6 weeks using Tryg’s complex #Excel models. Difficulties consolidating Excel sheets limited transparency while reliance on key personnel created bottlenecks. Lengthy cycles left Tryg ill-equipped to rapidly adapt forecasts. The finance team sought a streamlined EPM platform to boost #FP&A agility.
Seamless Forecasts with Jedox EPM
Implementing Jedox provided Tryg an integrated solution for #planning, budgeting and forecasting. Key benefits include:
Automated data integration and real-time report consolidation
Stronger alignment between finance insights and business operations
Cloud delivery for simplified browser-based access to forecasts
Accelerated reporting cycles to support quick decisions
"With Jedox we have significantly reduced our forecasting cycle while providing more reliable forecasts," says Tryg's Christina Ljungman.
Rapid Deployment, Quick Wins
Jedox's flexible SaaS model enabled rapid rollout. Key early successes:
Shortened planning cycles from 6 weeks to faster rolling forecasts
Liberated finance teams from manual reporting for value-add analysis
Introduced additional models like #salesforecasting and Covid-19 impact analysis
Ongoing Innovation
Looking ahead, Tryg is exploring #AI-assisted forecasting using Jedox AI to identify trends and fine-tune predictions.
The Flexibility to Adapt to Change
A key advantage of the Jedox solution is the flexibility to adjust models rapidly. This enabled Tryg to analyze the business impact of the global pandemic and recalibrate forecasts. The finance team continues to optimize performance and is investigating emerging technologies like AI-enabled forecasts.
The Path Forward
The results show how a shift to automated EPM can unlock finance velocity and value. Jedox helped Tryg wave goodbye to sluggish legacy models to start fast-tracking adaptable FP&A. With flexibility for continuous innovation, Tryg is well-positioned to keep pace with ongoing change.
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