Statutory consolidation, management reporting, and regulatory reporting

CONTEXT

The inventor of the assistance business more than forty years ago, Europ Assistance is established worldwide, which represents a tremendous asset but also a real management challenge for the financial community. As part of the global overhaul of the Generali Group’s Management Information System (MIS), of which it is a subsidiary, Europ Assistance decided to launch a project to optimize its Financial Information System (FIS). The structuring elements of the new FIS were based on the implementation of IFRS accounting, a single source of financial data to simultaneously feed management control and consolidation, and the automation of flows between the different application layers of the IS to refocus as much as possible on consulting and analysis tasks.

ACHIEVEMENT

MeltOne intervened on a fixed-price basis for the implementation of the SAP BPC Netweaver solution for the Management Control part and the Tagetik solution for the Statutory and Regulatory Consolidation (S2) part. MeltOne was involved in all project phases, from functional design to production launch, including parameterization, user acceptance testing assistance, and data migration.

RESULTS

Rationalization of financial reporting production processes to optimize the performance, costs, and skills of finance & management control teams. Rationalization and automation of reporting production and simplification of its dissemination. Improved analysis of actuals and budget monitoring.

Transition from a “production center” management control to an “Analyst & Business Partner” management control.