Harmonisation of Finance systems in a large insurance group
A large insurance group:
Harmonise and standardise finance processes and finance systems by introducing a modern accounting platform based on SAP ERP 6.0 and New GL.
Objectives of the project
The purpose of the mission was harmonising and standardising finance processes and finance systems in a large insurance group.
Measurable & concrete results
- Introduction of a centralised accounting platform based on SAP ERP 6.0 and New GL for the whole insurance group.
- Higher data quality in closing processes thanks to transparent data flows and reconciliation processes.
- Cost reductions by providing a flexible, scalable finance solution with a high degree of automated system support for mass data from feeder systems.
- Implementation of finance processes ready for use as a Shared Service within the group.
Key success factors
Stepwise introduction of processes with pilots and roll out waves Strict observance of finance architecture guidelines, such as lean GL and an approved reporting strategy Mandatory Quality Assurance for all concept documents.