The client, based in the Netherlands, is a fast growing and dynamic player the financial technology and services area. Using the latest in technology, their financial health and analysis platform develops new and converts existing financial and actuarial models for the insurance and pension industry.
The client was running a standalone .NET based system to carry out their administrative tasks. Their financial team had no systems in place to maintain entries and generate monthly & yearly reports for their financial transactions. There was no real time visibility for the management to know how many financial transactions were completed at a particular time of the month and their business process was not mapped in the existing software.
Similar situation was prevalent in their group companies as well. The transactions were carried outside the ambit of a cohesive business system and the journal entries were delivered out of the systems.
Their Management was thus looking for a concrete solution to integrate their Financial processes which can be integrated seamlessly with the Finance department of the company, their investors and customers to realize enhanced financial and operational efficiency.
CCS, first undertook a comprehensive study of their existing business scenario and processes, and then proposed implementing SAP S/4HANA Finance with integration to Fiori Web based apps. The goal was to standardize the processes and help the finance team and customers to work on real-time transactions and data with extended features in a highly integrated environment. With Fiori apps designed for multi-device compatibility, their management would have access to key business reports anytime, anywhere and on any device. Month end closing would be timely and automated, and data integrity and reliability would be ensured.
Another highlight is that the entire implementation was done on S/4 HANA instance hosted on AWS Cloud ensuring reducing expenses in CAPEX for the client.