Safety first as insurance firm Safety National adopts Planful for FP&A

It's a familiar story — Financial Planning and Analysis (FP&A) of mission-critical numbers in a highly regulated industry, all dependent on highly complex yet fragile Excel spreadsheets. This was the case at Safety National, a leading specialty insurance and reinsurance provider with thousands of customers across the US. Ruby Tan, Planning and Reserving Manager, paints the picture:

Given the complexity of the insurance industry, some of our Excel files contained multiple tabs with thousands of rows of calculations. At times, it felt like I was unintentionally running a stress test on Excel!

On top of this, there was limited flexibility to customize and distribute reports, hampering communications and collaboration with colleagues in other departments. Tan cites security worries too:

Imagine having to send a monthly package to 45 departments in your organization, each with unique specificities and potentially sensitive data. Will sending an email attachment be the best approach? How ...