Société Générale Insurance Russia ensures compliance by automating accounting

INDUSTRY

Life Insurance

GEOGRAPHY

Moscow, Russia

CHALLENGES

• Automate and secure the company’s monthly accounting closing process to replace a manual system that was labor intensive and subject to operational risks and had a burdensome audit trail
• Implement a new chart of accounts mandated by the Russian Central Bank

SOLUTION

• Axway Accounting Integration Suite(AI Suite)
• Axway Sentinel

RESULTS

• 80% reduction in workload for monthly accounting closings through automating and optimizing business processes
• Comprehensive audit trails implemented with a direct link between business systems and the accounting system
• Greater agility with posting rules easier to modify, and the ability to implement a new chart of  accounts
• Ability to manage multiple ledgers including international and Russian standards