“Pigment has enabled us to accelerate the delivery of business insights. We are evolving from a reporting tool into an interactive analytical engine with multiple scenarios.”
- FP&A
- Budgeting & Forecasting
- Cost Allocation Planning
- P&L Reporting
- Scenario Planning
- Profitability Analysis
At a Glance
- Reduced cost allocation cycle by over 200 man hours, moving toward real-time insights
- Eliminated 28 Excel workbooks, creating a fully integrated planning environment
- Enabled self-service profitability analysis across 100+ clients and 25 products
- Accelerated Board reporting delivery by 40%
- Established a single source of truth driving strategic decision-making with real-time, multidimensional insights
The Challenge
Cross River's finance team faced mounting inefficiencies from manual processes and a rigid legacy system. Their previous EPM tool couldn’t handle the complexity of allocating costs across client and product dimensions, forcing the team back to Excel.
The Solution
After evaluating the market with a focus on flexibility, scalability, and user experience, Cross River selected Pigment for its modeling power and intuitive UX. Implementation partner Alpha FMC’s banking sector expertise enabled delivery without heavy oversight.
With Pigment, Cross River built an integrated planning ecosystem across three key areas:
- Cost Allocation Module – Granular and enterprise-wide allocations producing historical and forecast P&L statements across all clients and products
- Board Reporting Transformation – Interactive reporting with drill-down capabilities replacing static decks
- Budget and Forecasting Models – Automated driver imports with versioned dimensional modeling and scenario comparison.
The Impact
The transformation delivered impressive results. Cost allocation cycles save ~200 hours and continue toward real-time through automated Workday integrations. Board reporting cycle time improved by 40%.
Leadership now benefits from real-time and self-serve insights; this enables faster decisions. Executives can independently identify performance patterns, refine ideal client profiles based on profitability, and adjust pricing for high cost-to-serve segments.
Pigment serves as a single source of truth, eliminating reconciliation overhead and ensuring consistency across business units, partners, and entities with end-to-end traceability.
What's Next
Cross River plans to expand use cases and adoption across the business. Their governance framework ensures new implementations inherit existing dimension structures and validation rules, maintaining control without sacrificing speed.
Cross River's finance transformation proved so innovative that Ken Yoon and his team were awarded The Visionary Pigment Award 2025.
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