The transformation programme is aimed at updating Covéa’s finance function across three of its important brands, MAAF, MMA and GMF
Accenture office at Tech Square in Atlanta. (Credit: JJonahJackalope/Wikipedia.)
Accenture and Sopra Steria have entered into a four-year joint agreement to help French property and casualty insurer Covéa with its finance transformation program.
The programme is aimed at updating and simplifying the Covéa’s finance function across three of its important brands, MAAF, MMA and GMF.
Under the terms of the agreement, Accenture and Sopra Steria will work together to combine three individual accounting systems into a single integrated platform, such that the new platform will better integrate with other systems across the business and improve the user experience for employees.
Covéa director of finance transformation Aude Messin said: “This innovative project is an integral part of our ongoing transformation initiative.
“We are proud to drive this change with our finance team and are committed to unifying and modernising our finance landscape with SAP S/4HANA and Axway applications, with which Accenture and Sopra Steria have specific expertise.”
The transformation programme will deploy a consolidated accounting platform
The transformation programme is planned to be carried out in phases that include deploying advanced technology tools and data models, standardising processes, and implementing new budget-tracking software.
The programme is expected to empower Covéa to transform other parts of its business, with a consolidated accounting platform which can be easily integrated with other operational processes for improved visibility.
The companies intend to develop the platform on SAP S/4HANA and also use the Accenture Finance Transformation Solution for enhanced financial reporting and enable consistent data models for accounting and consolidating financial results.
Accenture solution is said to provide pre-configured templates for standard accounting processes, to facilitate rapid implementation at a lower cost.
Covéa would leverage Axway Accounting Integration Suite (AI Suite) for streamlining data integration from multiple accounting systems into the new platform.
Furthermore, AI Suite includes transformation rules designed in line with Covéa’s specific policies and would handle exceptions and generate audit trails ensuring that all data delivered can be justified.
Sopra Steria insurance and social protection practice director Guillaume Steyer said: “Thanks to our end-to-end offering, we have all the assets required to ensure the success of this project by combining our consulting teams’ approach with our expertise in Axway’s AI Suite solution for accounting integration projects.”
Accenture France insurance practice leader Laurent Gaultier said: “We are thrilled to be helping Covéa work toward a new vision for their finance function, building a core platform to help them achieve more innovation across the organisation and ultimately build a business for the future.”