This week, our Data Analytics team has been making waves– they’ve been shortlisted for Mid-Tier Innovation of the Year at the British Accountancy Awards 2018.
From an idea born in mid-2015, we embarked on an entirely new journey by launching a ‘Data Analytics’ service line within the practice. Through this initiative, we have set out to provide a service to our clients outside of the norm, by unlocking the value of operational data to support and drive better business decision-making. This has been built as a start-up within our firm, unconstrained by existing systems, processes or pre-conceptions. The team are led by a culture giving freedom to innovate and identify the best methodology to deliver an excellent outcome.
Supported by a team of specialist data scientists and analysts, this concept was spear-headed by Reuben Barry, now a Director within the firm, with a background in Physics and Data Mining. Through his vision of the necessary approach, tools, techniques, and outcome in order to provide a service of value to businesses in a range of industries, he was able to pursue the strategy and realise this vision.
We have completed projects for existing clients and entirely new clients alike, trading on the strength of our case studies and testimonials, and universally delivering results whose value-impact on our clients has been clear.
We are providing data analytics services to a collection of clients in a variety of industries on a continuing basis. This work ranges from exploratory analysis work, through dashboard production, to predictive modelling based on machine learning algorithms.
‘Our catalogue marketing campaigns are hugely important for our business. With the model that Ecovis delivered, we are now able to select our catalogue audience according to their likelihood of responding. We expect this to return to us an annual net saving of approximately 17% of our annual catalogue mailing costs for minimal loss of demand. The data analytics team at Ecovis understood the scope of the work, were professional and patient, and delivered exactly the end product that we needed. This was a dream project for us, and I look forward to having their ongoing support.’ – Fashion Retailer.
In the future, we see the professional services market changing dramatically. As compliance and processing services are commoditised, firms must innovate to add value to businesses through their services. This venture is very much driven by our strategic goal to be an innovative firm, embracing technology in delivering our services end encouraging our people to be challenging, forward-thinking and creative.
We know that data analytics services are provided by other firms and specialist agencies, servicing the largest companies. We stand out not only as a trailblazer in mid-market accountancy firms, but by providing it to a wide range of industries of both large and SME market clients. By joining up the skillsets of data scientists and experienced business advisors, we ensure our work is targeted at delivering relevant and genuine value, and the correct tools and techniques are selected to deliver it.
‘The Ecovis data analytics team keenly understood our needs when we challenged them to build us a management dashboard. Reuben’s team took us from exploration of our systems and data, through defining the KPIs we needed to be measuring, to actually building the tools to allow us to monitor them in real-time. Our dashboard is up and running and the insights we’re obtaining are already having an impact on our daily decision-making. The value to us has been immediate, and I’m sleeping more easily!’ - Derek Moore, CEO Coffee & TV
A big well done to the team for their ongoing hard work and truly innovative problem-solving!