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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
     
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