How can you automate Compliance Reporting using Alteryx?

Background

Keyrus was asked to help a compliance team within a financial services client, who were required to produce upwards of 30 reports a day with several large monthly reports to produce as well for Compliance purposes. These reports would vary from checking a single number to combing multiple datasets and manipulating the data. The process was largely manual and took the Compliance team a considerable amount of time every week.

Challenge

The larger reports often applied similar logic to varying funds, regions or currencies. The large number of reports produced and checked also needed to be automated in an efficient way to achieve the best time saving possible.

Approach

For the smaller daily reports and checks Keyrus produced one Alteryx workflow which checked a single folder where all the inputs could be copied into. This workflow checked each of these inputs against logic set up in the workflow and produced a summary sheet of ones that needed further investigation. For the larger reports that broke data down into different sections, Keyrus used macros to ensure changes could be made to logic easily and efficiently.

Key results

Benefits

Time saved allows for value added tasks to be performed; so rather than producing these reports the data in them can be acted on. Automating the process also improved data accuracy as well as saving time. Once the logic had been agreed and set for the checks it removes the human error from the process. The process is also easier to run reducing risk in dependency on key personnel.

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