Accenture Helps French Reinsurer SCOR to Transform Its Finance Function With ServiceNow

Digital workflow government enables heading reinsurer to urge user knowledge for financial employees

Accenture (NYSE: ACN) and ServiceNow have helped SCOR, one of a world’s largest reinsurers, to renovate a inner financial duty by digitizing pivotal business processes to urge workflow government and capacitate real-time reporting.

Previously, many pivotal processes within a financial function, including a quarterly-close process, were conducted manually, regulating spreadsheets, email and a telephone. This acted a good challenge, given a complexity of handling processes opposite a company’s some-more than 100 authorised entities widespread opposite 6 continents.

As partial of a work, Accenture helped SCOR exercise ServiceNow’s Service Portal and Now Platform® as a underlying record enabling a mutation and simplifying vicious business functions. The new complement now handles approximately 30 pivotal financial processes, some of that confederate robotic routine automation. The automation has reduced a effort of some processes by as most as 40 days per year.

As a result, employees can spend some-more time on business-critical functions rather than on labor-intensive executive tasks. The digitization and converging of manifold actions into a singular routine also improves a auditing routine and enhances information confidence — enabling a organisation to revoke risk, urge clarity and raise a user knowledge for financial personnel.

Key financial tasks that are now entirely programmed include:

  • entity sign-off for quarterly stating (including a handling entities, a entities’ arch financial officers, and auditors, among others);
  • financial adjustments during a quarter-end shutting process, including review trails; and
  • bi-weekly intra-group transactions, enabling a organisation to collect sign-offs and improved promote review trails of transactions.

Employees can also entrance a 24/7 online portal that serves as a executive apparatus for submitting requests and changes electronically. It includes digital dashboards, that give financial and other staff real-time prominence into a standing of any financial routine and request and, where appropriate, a ability to yield a required sign-off.

“We during SCOR foresaw how ServiceNow could assistance us grasp a ‘spreadsheet-free’ prophesy for a financial function,” pronounced Marc Henry, conduct of financial systems, routine controls, and projects during SCOR. “With a ServiceNow expertise, Accenture has been a profitable partner in assisting us build that prophesy in sequence to boost productivity, urge how a people work and boost worker satisfaction. Our business and employees have felt a certain impact of a new state-of-the-art financial function, manifest review trails and real-time stating capabilities. Our financial mutation is motivating us to continue elaborating a business with rising technologies.”

Ciaran Cosgrave, handling executive and ServiceNow use lead for Europe during Accenture, said, “Reinsurers that understanding with significant, formidable financial exchange are actively embracing new technologies and modernizing processes. By assisting SCOR renovate processes regulating some of a latest digital technologies, we’re also enabling employees to accumulate suggestive insights generated from robotics and automation. Relieving SCOR’s workforce of fatiguing executive tasks will assistance a organisation contest some-more effectively in today’s data-driven economy.”

Accenture was recently ranked No. 1 in a list of tip ServiceNow providers by heading attention researcher organisation HFS Research, that cited Accenture’s tellurian capability to innovate and broach with high patron satisfaction.

About SCOR

SCOR, a 4th largest reinsurer in a world, provides word companies with a diversified and innovative operation of solutions and services to control and conduct risk. Using a knowledge and imagination (“The Art Science of Risk”), SCOR provides cutting-edge financial solutions, analytics collection and services in all areas associated to risk – in Life Health word (longevity, mortality, LTC, etc.) as good as in PC word (natural catastrophes, agriculture, industry, transport, engineering, etc.).

SCOR, underneath a care of Denis Kessler became one of a world’s largest reinsurers with 15,3 billion € of premiums perceived in 2018. These revenues place this French tip tier reinsurer in 4th position worldwide.

About Accenture

Accenture is a heading tellurian veteran services company, providing a extended operation of services and solutions in strategy, consulting, digital, record and operations. Combining unmatched knowledge and specialized skills opposite some-more than 40 industries and all business functions — underpinned by a world’s largest smoothness network — Accenture works during a intersection of business and record to assistance clients urge their opening and emanate tolerable value for their stakeholders. With 505,000 people portion clients in some-more than 120 countries, Accenture drives creation to urge a approach a universe works and lives. Visit us during www.accenture.com.

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View source chronicle on businesswire.com: https://www.businesswire.com/news/home/20200113005868/en/

Contacts

Natalie de Freitas
Accenture
+44 7380 799 196
natalie.de.freitas@accenture.com

Mylissa Tsai
Accenture
+1 617 470 8018
mylissa.tsai@accenture.com

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