Implementation SAP Financials

Redesign and Harmonization of Group Accounting

The overall objective was to redesign the accounting process, harmonize processes and accounting objects in order to improve data quality and transparency and to reduce the time needed for the closing.

The project focused on the following:

• Blueprint and implementation of standardized accounting processes across the group based on HGB and IFRS

• Creation and implementation of a standardized chart of accounts

• Set up of job scheduling and a central interface processor

• Mapping of insurance related accounting (calculation and posting of reserves etc.) and insurance related reporting

• Integration of all (approximately 80) related systems using a centralized interface processor

• Migration from various legacy systems: financial accounting data (balances, open items, individual items), insurance processes, controlling, asset accounting, materials management and consolidation