Modern organisations are massively transforming their finance function by leveraging data and applying advanced statistical and ML techniques. Hence, finance analytics is slowly becoming an integral part of businesses across industries as the enterprises strive to improve decision-making within the finance function of their organizations.
Although the number of vendors offering data analytics services has significantly increased over the last few years to meet the demands at the enterprise level, there is no major consulting firm offering explicit finance analytics services.
The whole big data and analytics software and services market is fragmented and we can broadly divide it into the following categories: KPO firms (Genpact, TD Synnex, and Telus International), Consulting firms (Deloitte, Mckinsey & Companys, PwC, EY, and KPMG), Software companies (Celonis, UiPath, and Tellius), and Boutique firms (Mu Sigma, Fractal, and Tiger Analytics).
Consultancies that can help you change the fortunes of your organization by providing finance analytics services.
When it comes to choosing the right data analytics solutions and services provider, it is a very crucial decision for any organization. Since, only a handful of players specialize in financial analytics domain, the decision becomes all the more difficult. To help you choose the best consultancy, we have put together the list of top contenders in this space, all of which belong to the boutique firms’ category:
1) Mu Sigma: Powered by an entirely new art of problem-solving, Mu Sigma can help to transform your business by utilizing the potential of financial analytics. The company offers a range of scalable revenue models and financial algorithms to help its clients analyse multiple financial variables in a complete and holistic manner. Further, the company help clients throughout the cycle of data engineering, data science, and decision science which makes it a credible name in the financial analytics sector.
2) Lingaro: Lingaro has found a prominent place in Gartner Peer insights which speaks volumes about the credibility of its Data Analytics services. The firm is a preferred innovation partner of Fortune 500 companies and thanks to its excellence in financial analytics, it continues to remain one of the dominant forces in this category. Along with financial analysis, Lingaro offers breakthrough solutions in the domain of supply chain analytics, consumer analytics, digital marketing, and data strategy consulting among others.
3) Fractal: Fractal offers AI-driven Data Analytics solutions to companies across product categories and service domains. Specifically in the financial analytical space, the company help clients in actuating agility and achieve revenue growth by improving forecasting and applying intelligent automation. The company excels in cognitive research and offers credible solutions in the domains of ratio analysis, operating profitability, and inventory turnover.
4) Latentview Analytics: Latentview Analytics can be easily considered a one-stop solution for all your needs related to Financial Analytics and allied solutions. The company offers a wide range of services that include offering unified data partnering solutions, ecosystem development, business outcomes analysis, and analysing working capital models. Further, the platform offers expert solutions for a wide range of categories including business analytics, consulting servicing, data engineering, and digital solutions among others.
5) Altair: To help companies excel and see a clear picture on the financial front, Altair offers a constellation of analytics services based on AI and ML technologies. The clients of the company can choose from a range of services that can help them to better manage the overall financials, fiscal forecasting, credit risk, and ROI. Further, customized solutions such as predictive sales, client profitability, and cash flow analytics help clients enhance shareholder value while delivering superior experiences to customers through cost optimisation and reduction in inventory turnover models.
6) Aays Analytics: Aays is a boutique AI & data consulting firm which specialises in democratising data science and ML in the corporate finance space. The company partners with global conglomerates having large, complex data footprints and help them contextualise their data science journey with a deep functional focus. Since its inception in 2018, it has solved some of the most complex business problems faced by fortune 1000 and fast-growing companies in the world utilising big data, cloud computing, and AI/ML. Backed by a strong management team with IIT/IIM background and over a decade of industry experience with Fortune 100 companies, Aays Analytics has been featured in the 2022 list of top data science providers in India by Analytics India Magazine (AIM) and has been rated as the top 5 fastest growing companies in this space.
7) Polestar: The experienced team at Polestar make excellent use of data integration, visual modelling, and attractive dashboards to help FP&A teams make insightful decisions on many critical parameters such as asset management, liabilities handling, capital gains, EBITDA, and earnings per share (EPS) among others. The company offers a completely guided approach to optimizing cash flow, maximizing revenue, and detecting fraud to enhance the overall profitability and revenue of its clients
8) Tiger Analytics: Known for its global client base, Tiger Analytics has its wings spread across countries and continents. The AI-based solutions offered by the company can help financial leaders to make more realistic and data-based decisions for organizations. Tiger Analytics can offer financial consultancy services for risk management, discrepancies identifications and elimination, and fraud detection and mitigation. Prospective clients can also avail of services such as cost optimisation, ratio analysis, and evaluating investment potential for achieving better results on critical parameters of financial performance.