Reinsurance firm Swiss Re is implementing a system that will standardise and consolidates its accounting systems for its asset management business in a bid to improve transparency and become more responsive to change.
Microgen's business process management, known as Aptitude, is being used in tandem with the supplier's Accounting Hub enabling Swiss Re to bring information from different systems together in a standard way.
The company started using Microgen's Accounting Hub in 2008 to help it prepare for a raft of new international regulation expected in the wake of the credit crunch.
This makes the company transparent in departments and across the entire business.
Swiss Re is working with Microgen to create an environment that allows business processes to be changed quickly in response changes in the market or the business.
"Like many financial institutions, our business is exceptionally data driven. We wanted to ensure that we have the right processes in place to ensure an accurate view of both our businesses and the financials underlying them," said Christian Behek, Head AM & RM IT Solutions, Swiss Re.