AGNC Saves Money and Time Consolidating Reports Free of Errors
“What used to take me five hours now takes me 15 minutes.”
Director of Treasury, AGNC
Hours wasted on consolidating
information, with no guarantee
that it is error-free
Founded in 2008, AGNC is an internally-managed mortgage real estate investment trust with an asset portfolio worth $6.3 billion. With common stock publicly traded on the NASDAQ Global Select Market, AGNC’s objective is to provide its stockholders with attractive returns. Every day, the Treasury team needs to provide a real-time picture of the company’s asset situations, as well as to advise which assets were ready to be liquidated or leveraged.
To make this a reality, the team of six had to analyze multiple revenue and financial reports and consolidate into a single report. “We were drowning in excel spreadsheets summarizing numerous assets, from numerous analysts in numerous formats,” said AGNC’s Director of Treasury, Gregory Henry.
Consolidation and comparison
of financial information in one,
Henry discovered DataRails, the simple and seamless solution to these problematic financial data challenges. The team uploads their varying excel spreadsheets into the DataRails platform with little to no training, and within minutes are able to compare and analyze their assets’ financial data in an efficient manner.
DataRails provides Henry and his team with better visibility and insights, and it saves them enormous amounts of time and money in the process. Additionally, Henry feels confident in the final versions of the reports, as the technology within the DataRails system highlights any changes or abnormalities in the data.
DataRails maintains a clear audit trail, enabling Henry to easily pull up the necessary information in case of an audit request. And because of DataRails’ built-in version-control reporting, the team always knows they are working on the most up-to-date data set.
Even more important than the time savings of 5 hours of work being condensed down into 15 minutes, DataRails provides Henry with the ability to be more strategic and spend more time on analyzing the data and making better business decisions.