Managing the future at Willis North America
13th March 2007
Over the past few months, Willis North America have been applying Metapraxis techniques across their business. This brief case study highlights the approach taken, and the benefits achieved in maximising future sales productivity and managing risk.
The Business Challenge
Under the energizing leadership of Joe Plumeri, Willis Group Limited has delivered six consecutive years of record financial results, achieved substantially through organic growth. The North American business, led by Don Bailey, has been restructured into a single business unit, integrating all the broker’s North American efforts. Large account and middle market units, as well as various specialist practice groups, are all now driven by a single integrated growth strategy. Ensuring that sales productivity is continually maximized is a fine art.
The management structure has moved from 5 to 10 regions within North America in order to focus the management of the business, and this has led to a significantly increased burden of financial reporting.
As a risk management business itself, Willis North America has faced challenges in managing its own financial risks and opportunities, particularly in regard to maximising future sales productivity. A clear need was identified for a management information solution that would integrate historic financial trends with future forecasts and plans, allowing the business messages and turning points buried in the data to be more easily assessed by the Regional Finance Officers, Regional Operating Officers and the financial reporting community.
The Metapraxis Approach
The Willis North America Finance team had past experience of using Metapraxis visualization techniques (Empower), which had stimulated demand for re-launching the techniques during 2001. The project has evolved into a widely used and much demanded tool by Willis North America financial management. The project leader, Becky Toler (Financial Systems Manager) and her finance colleagues continue to provide 6 years of actual data, 2 years of budget, and Monthly Outlook for Profit & Loss, Revenue Analysis and Headcount/Annualized Salaries in many different reports, charts, and matrices.
Empower integrates historic actuals sourced from the Willis General Ledger system with plans and outlooks generated within Cognos Analyst. The visualization techniques provide advanced trend analysis, forecast risk assessments and early warnings of turning points. The tool was initially deployed with 40 users, including Chief Financial Officers, Regional Finance Officers, Regional Operating Officers, Financial Analysts and members of the financial reporting community. Based on successes achieved to date, a decision was made to further roll out Empower to an unlimited number of users in May, 2006.
About Willis North America
Willis North America is a regional business within Willis Group Holdings, a leading global insurance broker listed on the New York Stock Exchange (WSH).
With revenues in 2006 in excess of $775 million, the business offers comprehensive risk management and retail insurance broking services to clients in the US and Canada. It enjoys prominent positions in several key sectors, such as Construction, Employee Benefits, Healthcare and Advanced Risk Management Services.
Please visit their website at www.willis.com.
Back to News
13th March 2007
Over the past few months, Willis North America have been applying Metapraxis techniques across their business. This brief case study highlights the approach taken, and the benefits achieved in maximising future sales productivity and managing risk.
The Business Challenge
Under the energizing leadership of Joe Plumeri, Willis Group Limited has delivered six consecutive years of record financial results, achieved substantially through organic growth. The North American business, led by Don Bailey, has been restructured into a single business unit, integrating all the broker’s North American efforts. Large account and middle market units, as well as various specialist practice groups, are all now driven by a single integrated growth strategy. Ensuring that sales productivity is continually maximized is a fine art.
The management structure has moved from 5 to 10 regions within North America in order to focus the management of the business, and this has led to a significantly increased burden of financial reporting.
As a risk management business itself, Willis North America has faced challenges in managing its own financial risks and opportunities, particularly in regard to maximising future sales productivity. A clear need was identified for a management information solution that would integrate historic financial trends with future forecasts and plans, allowing the business messages and turning points buried in the data to be more easily assessed by the Regional Finance Officers, Regional Operating Officers and the financial reporting community.
The Metapraxis Approach
The Willis North America Finance team had past experience of using Metapraxis visualization techniques (Empower), which had stimulated demand for re-launching the techniques during 2001. The project has evolved into a widely used and much demanded tool by Willis North America financial management. The project leader, Becky Toler (Financial Systems Manager) and her finance colleagues continue to provide 6 years of actual data, 2 years of budget, and Monthly Outlook for Profit & Loss, Revenue Analysis and Headcount/Annualized Salaries in many different reports, charts, and matrices.
Empower integrates historic actuals sourced from the Willis General Ledger system with plans and outlooks generated within Cognos Analyst. The visualization techniques provide advanced trend analysis, forecast risk assessments and early warnings of turning points. The tool was initially deployed with 40 users, including Chief Financial Officers, Regional Finance Officers, Regional Operating Officers, Financial Analysts and members of the financial reporting community. Based on successes achieved to date, a decision was made to further roll out Empower to an unlimited number of users in May, 2006.
About Willis North America
Willis North America is a regional business within Willis Group Holdings, a leading global insurance broker listed on the New York Stock Exchange (WSH).
With revenues in 2006 in excess of $775 million, the business offers comprehensive risk management and retail insurance broking services to clients in the US and Canada. It enjoys prominent positions in several key sectors, such as Construction, Employee Benefits, Healthcare and Advanced Risk Management Services.
Please visit their website at www.willis.com.
Back to News
Client benefits
"Empower is a vital support to our business performance review and investment decision processes. The ability and to drill down into lower levels of detail with a simple visual layout provides another dimension to our analytical capabilities."
Derek Smyth
Chief Financial Officer, Willis NA
Derek Smyth
Chief Financial Officer, Willis NA
"We have found Empower to be a very useful tool in allowing management to focus in on the relevant detail."
Kristine Dickson
Financial Planning & Analysis Manager, Willis NA
Kristine Dickson
Financial Planning & Analysis Manager, Willis NA