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Accenture Finance Transformation Solution Enhances Financial Reporting and Accounting

TMCnews Featured Article


June 23, 2014

Accenture Finance Transformation Solution Enhances Financial Reporting and Accounting

By Shamila Janakiraman, TMCnet Contributor


For the past few years it has been difficult for financial services firms to make huge profits owing to numerous challenges related to profitability, complexity and the new regulations imposed now and then.

A solution that can help adopt new processes is imperative to make fast and accurate closes in addition to accomplishing statutory, regulatory and management reporting. The solution should also help in various other accounting, budgeting and reporting processes.


The Accenture (News - Alert) finance transformation solution has been developed to support the implementation of financial reporting capabilities and also to help create a consistent data model for accounting purposes and to consolidate financial results. The new solution has been developed on the SAP (News - Alert) HANA platform and helps banks and insurance companies to augment their finance operations.

The solution provides pre-configured technical solutions which can be re-used and which reduces the time taken for configuration and integration. The SAP HANA platform enables the solution to support comprehensive application and database services.

The new Accenture solution is able to simplify financial operations of organizations to streamline the financial analysis process. Also the solution provides a simple implementation path which delivers a quick solution to deal with common processes that are industry specific.

Anne-Cécile Hondeville, chief information officer at Natixis Global Asset Management International said, “The solution combines Accenture’s global network of SAP experts as well as finance and accounting specialists that we need for fast and effective finance transformation.”

The new technical solution encompasses accounting, sub-ledgers, reporting and controlling systems that will serve the needs of banking, insurance and reinsurance firms. It is designed to be flexible and its modular approach provides solutions for business requirements, general and detailed designs, test documents, preparation for go-live, project management and change management.

Accenture’s expertise in financial processes is incorporated into the solution including closing processes, descriptions of leading practices and overviews of information technology blueprints, said officials.

Further the solution is localized in accordance with different countries’ financial services industry. The integrated finance and accounting system can be customized as per client needs to bring down risks, implementation time and total cost of ownership.










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