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Numa Solution: Enabling Speedy Decision Making
The advent of advanced analytical tools has practically lifted the bar of decision-making processes across organisations. These tools have made it possible to identify and list the critical steps in decision-making process into something that is more tangible and useable and can reduce the conflicts in corporate decisions. Building best-in-class analytical solutions for organisations to improve their decision-making capabilities is Kuala Lumpur-based Numa Solution. This IBM Gold Business Partner builds competent analytical solutions that can adapt to the dynamic drifts of markets and yield competitive advantages to its clients. “Our uniqueness lies in the fact we solely focus on and leverage analytics to drive big industries,” says Azhim Hadi Daud, Director of Numa Solution.
Numa Solution’s big run in the market and its expertise in building analytics solutions contrasts the company in the market. The firm provides a solution that is designed to improve the accuracy of decision-making for greater profitability. The solution does cost allocation of all the activities and components, directly or indirectly, related to the development of a product and delivers insights for “prospective income versus the cost” of a product. On the other end, the solution can help customers analyse the market price for similar products and identify the underlying components that drive the cost of their products. “This helps them institute cost-reduction measures and quote competitive pricing,” adds Daud.
The firm’s portfolio also includes financial consolidation and economic data management.
Our uniqueness lies in the fact we solely focus on and leverage analytics to drive big industries
The consolidation solution reduces the time to integrate financial data from several entities within an organisation using short-time analytics and enables speedier reporting.
Numa Solution also provides a data-driven analytical model that leverages cognitive solutions to get useful insights from humungous data sets. Developed with an inbuilt tool where data can be stored, the software’s capability in visualization techniques is next to none. “Our software platforms are aimed to provide an analytical solution and continuously improve our acumen in data storage and data mining,” asserts Daud.
Since its inception, the company has consistently scaled up services to assist its clients to grow exponentially. In one of the projects managed by Numa Solution, the firm helped an oil and gas company to deal with the complexity of optimising energy production in its existing practices. Numa Solution developed a revenue model that could track the changes in energy production, prices along with reducing the expenditure costs.
Daud further emphasises on the growing demands for big data analytics solutions to meet the changing landscape of the market. The firm continually adds new technology to its armoury to remain aligned with the escalating market race. The company’s hydrocarbon fiscal analytics solution developed on IBM Cognos TM1 software platform automates some of the financial processes of oil and gas units and aids in managing the hydrocarbon reserves of Malaysia. Numa Solutions also proffers solutions for financial consolidation, activity based costing, risk analytics, and financial analytics abiding by all the relevant standards such as the very new IFRS9.
In the years to come, the company intends to push the standards of IFRS9 into new territories through the addition of competent technology in its analytics brochure. On the geographical front, the firm envisions to expand its presence throughout the APAC region particularly focusing on Indonesia, Philippines, and Vietnam for the near future. The company is also set to launch a product in the IBM function next year that would enable it to cultivate partnership programs with other companies in the same space.