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Implementation and adaptation of SAP accounting systems for the management of IFRS 17

Challenge

The project arose from the need of the Customer to adopt an SAP system for the management of the IFRS accounting principle 17.

Qintesi was hired to define specific requirements (test cases and accounting and actuarial supply interfaces) for the management of IFRS 17 from SAP FS-CD and SAP FI-GL to SAP Financial Products Subledger (FPSL), and from technical systems to actuarial engines.

 

Solution

The project, started in June 2018 with the use of SAP Insurance Analyzer 2.0, saw the transition to the new SAP FPSL – Financial Products Subledger in progress.

The working group’s knowledge of both SAP applications has facilitated support activities for the definition of the new data model in the IT area and the methodological support aimed at deepening the principle in the Finance area.

Qintesi demo systems (Insurance Analyzer and FPSL) were in fact used to support in-depth meetings with the managers of the activities for a greater awareness of the “To-Be” solution and an immediate response regarding compliance with the specifications.

The in-depth knowledge of the local administrative systems and the methods of interfacing with the source systems encouraged the development of accounting interfaces towards the FPSL system emphasizing in particular the importance of having the detail data and the centrality of the SAP FS-CD system as “Hub” for managing information (personal data and accounting) necessary to satisfy the information needs required for the management of the new Accounting Standard.

The accounting interfaces analysis activity was based on the “Business Logic Rules” model which, by borrowing the logics used for reporting in the BI area, allowed the mapping and timely identification of the relevant Actuals events in IFRS 17, according to paradigms known to business owners.

Results

Statement

In an IFRS 17 project, accounting is central but the aspect of integration with supply systems is just as important. Having detailed information and finding relevant information are key aspects of the success of the project.
Giuseppe Marrapodi
Senior Manager - Qintesi

Le informazioni contenute in questo documento sono di proprietà.
Copyright © 2014 Qintesi S.p.A. Tutti i diritti riservati.

  • SERVICES OFFERED
  • IMPLEMENTED MODULES
    SAP FPSL – Financial Products Subledger
  • TAG CLOUD

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