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The system of financial statements disclosure in the insurance sector

Challenge

Implementing the financial statements reporting with SAP Disclosure Management (SAP DM) means to fully review the procedures for preparing the dossiers and other documentation, according to a new logic that allows the customer to: optimize its processes, meet audit requirements, and centralize and standardize the collaborative dynamics between different offices.

In order to ensure these improvements, however, it is necessary to deal with requests for customization, specific to each customer company, and to automate processes that are not always guaranteed by the standard application.

 

Solution

The solution adopted, in order to ensure improvements in the production of the financial reporting for the insurance group, was the combined implementation of two SAP applications: SAP DM – Disclosure Management, used in its classic role as documentary, and SAP BPC – SAP Business Planning and Consolidation, which serves as a database and as a bridge with accounting.

The implementation process involved the construction of specific rules, one for each item of the tables to be produced, based on accounts and accounting attributesThese rules have allowed to calculate the accounting balance of each item, creating an aggregate database (a few thousand entries) that could be imported and managed effectively in Office Excel.

The SAP BPC module has ensured an environment in which the database can be collected and managed and, through its Office EPM component, provides excel files stored in SAP DM to recall balances at any time in order to populate the tables, such as financial statement formats, reports and notes, attachments and forms. Through internal DM links, it is possible to call up the tables in Office Word, and to ensure that the updating of the database is fully implemented.

The standard DM functionalities have also allowed a versioning system capable of meeting the audit requirements, making comparisons between versions and restoring the correct version in case of errors. It is also possible to amend the accounting data and to fill the manual tables in order to produce and manage each type of table; these data are saved in SAP BPC via an input form, allowing to generate the overall database and produce the layout required by the regulator (eg BIL file according to IVASS regulations).

Results

Statement

The implementation of SAP DM has allowed to increase the involvement of the offices in the disclosure process, increasing the cooperation and the traceability of the activities carried out. The production of documents has always been regular for all deadlines.
Paolo Misisrliyan
Associate Partner - Qintesi

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

  • SERVICES OFFERED
    Digital Transformation
  • IMPLEMENTED MODULES
    SAP BPC

    SAP Disclosure Management
  • TAG CLOUD

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