Client Study: Digital Transformation
Strategic Finance Roadmap
Client: Canadian Insurance Firm
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Business Areas Impacted: Policy Administration, Investments, Claims, Reinsurance, Product Development, Agents, Expense Management, Actuarial, Financial Accounting, FP&A, Treasury, Data & Reporting
The Challenge
Client had Financial Architecture complexity from Insurance Sub Ledger end-of-Life, Chart Of Accounts structure, Reporting Data stores and needed a business and technology roadmap to address
Business Value Created
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Readiness assessment to comply including cost and timeline
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Vulnerabilities in current state that must be fixed
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Improved Financial Architecture capabilities and transitioned to in-house
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Simplified billing sub ledgers and reporting
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Opportunities to reduce cost further with new initiatives
How did Aggrego Help?
Led BAU Financial Architecture function reviewing the portfolio, day to day operations, cross functional architecture, application inventory and overall Finance portfolio
Worked with CFO for Financial Reporting, FP&A, Financial Controllers, Risk, ALM, Liquidity Risk, Actuarial, Billing, Pricing, Policy Administration and Chief Architect of the firm to assess current state landscape and develop vision for 2020
Developed Business definitions for IFRS compliance, mapped to current capabilities and requirements for new architectural, data, process, operating model and applications components, financial estimates and timeline to comply.
Assisted firm’s Architecture Review Board and senior executives in Group Finance with gap assessment, day to day architecture reviews, vendor engagement.
Reviewed Oracle EBS Suite upgrade deliverables and worked with client and integrators in the upgrade of the Financial Platform
Assisted client with decommissioning and migration of the billing platforms and migrate the provider, sub ledger and benefit payment components