Industrializing Finance Operations For Faster View Of Results

Financial firms such as banks, word companies and reinsurers will be means to tighten their books faster and broach some-more arguable financial information progressing with Accenture’s Finance Transformation Solution grown for a SAP HANA platform.

At a finish of a quarter, this will drastically revoke a effort, pronounced Steve Culp, comparison handling executive of Accenture Finance and Risk Services.

“In many institutions, by a time of numbers get to sign-off, a volume of time left to unequivocally investigate and know a [firm’s] instruction is short. With Accenture’s Finance Transformation Solution, we have many some-more plain numbers progressing in a process, so a questions we can ask and research we can expostulate are many some-more robust.”

The modular resolution contains accounting, sub-ledgers, stating and determining systems designed for banking, word and reinsurance firms.

Why would any organisation need this when they have Excel spreadsheets, customarily lots of them? Those mixed spreadsheets are partial of a problem since organizing them and reconciling numbers is time-consuming. With a Accenture solution, pronounced Culp, a lot reduction offline work will be indispensable and a tighten can be achieved with a high turn of straight-through processing. Time to tighten varies by firm, though it mostly can be weeks while with a Accenture resolution it should be days.

The time compulsory to tighten varies by institution, and any has a possess clarification of what constitutes a close, Culp added, regrettably not charity names of specific institutions.

“The value here for a clients is they are seeking for some-more plain formula before a final ticking and tying; they don’t wish to see vital changes in a final numbers. A series of large institutions that have left by mixed acquisitions have mixed processes using and they have been watchful until unequivocally late in a routine to have a loyal understanding, that puts a lot of vigour on them from financier family to analysts. With this, we have clarity early in a process.”

SAP’s HANA with a in-memory processing, has a ability to do calculations around liquidity and analytics tighten to real-time, while Accenture offers strictness around a quality, timeliness and turn of purify and arguable information entrance in, he added.

When it comes to industrializing a processes, financial services is following other industries, Culp said.

By providing pre-configured technical solutions for re-use, a Accenture resolution reduces a series of days compulsory for pattern and formation by 20 to 30 percent.

“Industrializing is unequivocally simplifying a processes and creation them some-more common, a approach that we work your financial risk processes opposite geographies and opposite business units.”

The idea should be a many elementary routine possible, with fewer relocating tools and a whole routine codified in record so financial firms can get divided from a crowd of reconciliations and item allocations that askance opening measures, he added.

Anne-Cécile Hondeville, arch information officer at, Natixis Global Asset Management International, pronounced a Accenture resolution “brings common processes tailored for a industry, that we can precedence to get by a doing some-more fast and with some-more confidence.

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