The performance improvement services provided by Practus enabled Titanic Cruises to automate forecasting for 12 months on the basis of assumptions and actuals, which took care of dual financial reporting requirements (UK & India) within a single forecasting tool.
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About The Company
Titanic Cruises, a British cruise company, is the world’s largest cruise operator, with over 250 different cruise itineraries ranging from 2 to 21 days in length and 10 distinct brands. Titanic Cruises is the world’s oldest cruise operator, having launched the first commercial passenger ships in the early 19th century.
- Defined and automated the whole exercise with a Single assumption sheet.
- With the capability to include new brands, accounts, etc.
- Implemented SOP with self-explanatory flow charts for future references.
- Built a dynamic model with inbuilt what-if scenarios analysis.
- Defined terms for Service Level Agreement with a new brand.
- Created permanent backup and format of document for the transition of other brands.
- Provided SOP with self-explanatory flow charts for future references.
- Implementation Single data entry sheet covering all the requirements of the tool with all the calculations linked to it – Improved the controls and efficiency and reduced user efforts.
- Automated forecasting for 12 months based on assumptions and actuals which took care of dual financial reporting requirements (UK and India) within a single forecasting tool.
- Tool Covers monthly, quarterly, or annually comparatives between actuals versus forecasts versus budgets between along with the graphical presentation of data wherever required for improved decision making.
- Automation- Actuals linked to the source file directly to the tally source file to reduce user efforts of changing formats and lowered manual dependencies for analysis and reporting.
- The easy transition of other brands due to Practus’ business process documentation with self-explanatory flow charts, RACI metrics, TAT for each activity and escalation metrics.
- Better utilization of Senior Management’s time in more productive activities.