Aviva is dumping the spreadsheets and adopting a cloud-based forecasting system for its insurance and savings business.
Aviva is using a cloud forecasting system from Anaplan to give its finance team the capability to build and maintain an "agile enterprise-wide planning solution", said Aviva.
"By using the Anaplan platform for our end-to-end group planning process we will be able to spend far less time generating an accurate forecast, leaving more time for analysis," said Darren Craddock, director of planning and forecasting at Aviva.
He said: "Anaplan will provide a familiar environment for our existing modellers, but will deliver another level of power and scalability within an enterprise platform.
"Anaplan will allow us to further optimise our strategic plans as we can instantly see results of alternative scenarios in different ways to suit the varying departmental and executive needs."
Craddock said Aviva needed a solution that provided a "collaborative framework" for finance to "increase agility", whilst maintaining financial governance within the planning and forecasting process.
"For large global organisations such as Aviva the use of Excel spreadsheets to collate and analyse large volumes of data is no longer appropriate," said Ian Stone, UK managing director at Anaplan.