Lloyds TSB (UK)

At least twice a year the senior management of the bank come together from around the country. There are heads of products (loans, current accounts, mortgages, savings and credit cards) and also the heads of the geographical areas (e.g. Wales and the Midlands).

Product managers have sales targets to meet and they negotiate with geographical managers as to how much of those targets they will take on for their area. In order to do this, they put figures into our system to see the effect of these numbers. The numbers they put in are very high level and only a few lines, for instance sales volumes or average balance figures. However these figures have a tremendous impact on everything from revenue and costs to the number of staff required in branches.

This system made great use of TM1's consolidation abilities as well as it's calculation strengths. For example a regional manager could analyse her sales targets, cost expectations, and the calculated forecast headcount for each of the different products. A product manager could do the reverse, by being able to see the information for each region, each country, or the whole of the UK.

Staff from Herring Ryan assisted in building a robust and powerful budgeting model that tremendously simplified the semi-annual process for the banks management team.

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