Covea selects Accenture for finance transformation program

Covea, France’s largest property and casualty insurer, has selected IT services provider Accenture and Sopra Steria, for its finance transformation program.
Accenture Industry X.0 modelAccenture and Sopra Steria will help Covea converge three separate accounting systems into one integrated platform to improve the user experience for finance employees.
The program aims to modernize and simplify the insurance group’s finance function across its three brands — MAAF, MMA and GMF.

Covea will be deploying technology tools and data models; standardizing processes; and implementing new budget-tracking software. This will enable Covea to transform other parts of its business more effectively with a consolidated accounting platform that improves visibility and integrates with other operational processes.

The platform will be developed on SAP S/4HANA and also uses the Accenture Finance Transformation Solution, which improves financial reporting and enables consistent data models for accounting and consolidating financial results. The solution provides pre-configured templates for standard accounting processes for faster implementation time at a lower cost.

Covea will use Axway Accounting Integration Suite (AI Suite), which helps streamline data integration from multiple accounting systems into the new platform. The AI Suite includes transformation rules designed in compliance with Covea’s policies, handles exceptions and generates audit trails ensuring that all data delivered can be justified.