Accenture has released its Accenture Finance Transformation Solution, an application designed to help banks and insurance companies transform their finance operations.
Developed on the SAP HANA platform, Accenture Finance Transformation supports financial reporting capabilities and enables a consistent data model for accounting and consolidation of financial results. By providing pre-configured technical solutions for re-use, the application reduces the number of days required for configuration and integration by 20 percent to 30 percent. The application implements processes essential for accurate closes; statutory, regulatory and management reporting; and other accounting, budgeting and reporting processes, said Accenture.
Accenture Finance Transformation contains accounting, sub-ledgers, reporting and controlling systems designed for banking, insurance and reinsurance firms. The application incorporates deliverables that include business requirements, general and detailed designs, test documents, preparation for go-live, project management and change management. It also makes use of Accenture’s experience with closing processes, descriptions of leading practices and overviews of information technology blueprints. Accenture and SAP are developing joint offerings for treasury and liquidity risk management and intraday market risk reporting.
“Given the complexity of our finance operations and pressure to deliver strong financial analysis, the Accenture Finance Transformation Solution enables a more rapid implementation path and brings common processes tailored for our industry, which we can leverage to get through the implementation more quickly and with more confidence,” said Anne-Cécile Hondeville, CIO, Natixis Global Asset Management International. “The [application] combines Accenture’s global network of SAP experts as well as finance and accounting specialists that we need for fast and effective finance transformation.
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