Modernizing Caisse des Dépôts' Accounting with Axway Financial Accounting Hub
Caisse des Dépôts manages the French state's social policies, including civil servant retirement and vocational training. The Hermes project, developed with Axway Financial Accounting Hub, modernized their 20-year-old accounting system for 50 funds, handling 50 million new lines per month, using AFAH as a Subledger. By partnering with Axway, Caisse des Dépôts reduced accounting closure times from five months to two, ensuring faster reporting and regulatory compliance. See how Caisse des Dépôts and Axway drive efficiency with the Axway Financial Accounting Hub. Caisse des Dépôts is the armed wing of the State. It's a public establishment that manages the whole of the State's social policy, and we work more specifically within the Social Policy Department, which handles all civil servant retirement, vocational training, disability, and the elderly. The aim of the Hermes project is to implement sub-ledger accounting for funds, under a mandate managed by the Social Policy Department. The Social Policy Department manages around fifty funds. We manage the accounting for these funds, and so the aim of the Hermes project was to modernize the accounting system, since it was 20 years old, and to set up auxiliary accounting, and monitoring at a much finer level of granularity, with much greater volumes to manage. So this was a very important project for Caisse des Dépôts, which we carried out over three years, and we're now in the second year, with another year to go, but we're making good progress and very pleased. We manage 50 funds in the data store, representing around 500 million lines and 50 million new lines monthly. The project had a very important regulatory component, since the aim was also to enable accountants to make all their corporate and accounting reports available to the supervisory authorities, and so the project was audited by the statutory auditors, who congratulated us on what had been developed and implemented. There is a significant gain in terms of time, since accounting closures can now be completed in two or three months, whereas it used to take four to five months to complete the accounting closures, and produce all the reports. One of the objectives of this project is to reduce the time needed to produce accounting statements, to be able to respond as quickly as possible to all the supervisory authorities. Our relationship with Axway went very well throughout the project. We already had good support from Axway throughout the pre-project phase, in fact the POC phase we did together, and then throughout the project we were supported by Axway, a resource who was really integrated into the team, and who helped us daily and contributed his expertise. In fact, we were able to have regular updates with Axway on the problems we were encountering, and also on the changes we could propose, etc, which were taken into account by Axway, and integrated into the standard versions, so Axway was very supportive throughout the project. And I would add a very fluid relationship. The project went very smoothly and naturally, and that's something I really appreciate.
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