Accenture has launched a new Finance Transformation Solution developed on the SAP HANA platform, designed to support banks and insurance companies by enabling efficient implementation of financial reporting capabilities and the creation of a consistent data model for accounting and consolidation of financial results.
The solution provides preconfigured technical solutions for reuse, and so reduces the number of days required for configuration and integration by 20 to 30 per cent.
“Financial services firms face extraordinary challenges related to profitability, complexity and new regulations in an uncertain economic environment,” said Steve Culp, senior managing director, Accenture Finance and Risk Services. “The Accenture Finance Transformation Solution helps them address those challenges as it implements new processes essential for swift and accurate closes; statutory, regulatory and management reporting; and other accounting, budgeting and reporting processes.”
The solution contains accounting, sub-ledgers, reporting and controlling systems designed for banking, insurance and reinsurance firms. As a flexible and modular system, components can be activated as required to address client needs, and it provides a full set of deliverables for all phases including business requirements, general and detailed designs, test documents, preparation for go-live, project management and change management. The platform is also localised for different country environments.
Accenture already has implementations of the platform underway at several banking and insurance firms, and is expanding its global alliance with SAP to create additional end-to-end solutions running on the HANA platform. They are currently developing joint offerings for treasury and liquidity risk management and intraday market risk reporting, among other areas.
