- Arts & Media
- Company size
Euromoney Institutional Investor PLC (FTSE 250) has a turnover of £2.5bn and globally employs 20,000 staff. They are a market leader in International Financial Publishing and have a portfolio in excess of 100 specialist magazines in: Finance, Energy, Aviation, Pharmaceuticals, and Law sectors: delivering business information for over 35 years.
The problem faced by Euromoney was that their staff had to undertake a difficult manual process of reconciling finance data across their complex infrastructure which consisted of more than 170 profit centres and businesses across many different countries, currencies and time zones. This was an extremely complex process with many rules and exceptions and proved to be very time consuming and resulted in many errors not being detected. Automation of this complex process was deemed a major requirement within the organisation.
The infrastructure that Geeks developed included over 150 websites and offline stores, multiple back office and Cybersource Transactional Databases, tens of accounting systems, and multiple payment gateways. The logic for the process was also complex and involved many business rules incorporating a vast number of exception scenarios for what were dynamic and changing information systems. The solution required the implementation of a diverse array of integration APIs (18 systems) operating in real time with high concurrency and a need for fault tolerance. Extensive permissions and reporting are built in to the system. Geeks built a very sophisticated system which enabled Euromoney to have far more control over their complex business processes, improving staff productivity considerably and enabling managers to have a much better overview of the daily transactions of the business. Thanks to the new system, errors and exceptions across over 150 websites and internal systems that were previously too hard to notice were automatically identified and were readily presented to finance staff to simply make correction decisions.