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
