Internal processes streamlined and improved to mitigate risks.

VGZ, a large insurance company in the Netherlands, utilizes PerfectXL to reduce error margin on internal models, and to onboard new colleagues efficiently.

Before PerfectXL

Before implementing PerfectXL would check complex Excel models without any software assistance. This manual process was time consuming, and some issues could slip through the cracks. This was especially true when it came to newer members of the team, for them, large complex Excel models were difficult to understand and work with. The time and energy spent on trying to explain and onboard users around good use of complex files was significant.

After PerfectXL

PerfectXL is now utilized for many internal processes, but has been found to be especially helpful in identifying and mitigating risks in complex models. Users are encouraged to review Excel models with PerfectXL to reduce the margin of error, and many have found that the process is not only more thorough, it also saves time as it streamlines the audit process. The visualization capabilities of PerfectXL are now also utilized in onboarding processes to aid in explaining models to new employees.

 

Conclusion

Having a powerful suite in house has resulted in better Excel models for VGZ, improved processes around managing Excel files, and a lower error margin. The visualizations also help to make even complex models understandable, simplifying the onboarding process and improving users grasp on internal models starting from day one.