A leading European Energy supplier needed to bring control and scale to its Excel estate as a result of over-reliance on Excel for mission-critical business processes, particularly across Trading, Risk and Finance.
Before Schematiq, the client’s trading desks was limited in the amount of historical data it could use. Excel sheets had reached capacity and the processes around them were extremely manual and slow. This was impacting the firm in multiple ways from missed trading opportunities to not having the correct safeguards as well as impacting their ability to perform robust stress testing. In a nutshell, the Excel sheets they were using were too large, too slow, and too difficult to manage.
Using the Schematiq platform enabled the removal of Excel desktop constraints and allowed the users to build robust, fast, cloud scalable models and applications using all the organisation’s data (without VBA) in a controlled environment. This meant that the client gained greater business agility without the need to change or re-platform critical business processes, nor a steep learning curve.
Improved governance and control frameworks satisfying auditors and reducing operational risk.
Removed data limitations within Excel allowing for more accurate trade pricing.
Time to market significantly reduced and cheaper than re-platforming on new technology.
Workbooks simplified removing 1000s of lines of VBA and 80% reduction in worksheets.
Increased data analysis – Trading analysis of two million rows of data.