Are you ready for IFRS17?
IFRS17 is one of the biggest accounting and financial reporting changes in decades, impacting every facet of an insurance company's landscape. SAP Financial Products Subledger (FPSL) can be the answer from a technology perspective, but implementation takes time. Standing up a new software platform, connecting systems to generate automation, and getting the accountants and actuaries to play together — it just takes time and focus.
What if you could tap into system implementation knowledge from the company that helped design the system and has worked on 17+ IFRS17 implementations to date? msg global offers an implementation methodology that allows quick, low-cost, proven delivery of SAP FPSL for Life, Property/Casualty, or Reinsurance companies. Our insurance industry experience, coupled with SAP FPSL's rich functionality, allows us to help you cut through the complexities around accounting, actuarial disciplines, and technology to deploy an IFRS17 system in 6 months.
What is Eco Delivery?
Our Eco Delivery Implementation is specifically designed for companies that need minimal customization and can benefit from a pre-defined strategy. The solution design combines our experience with SAP Financial Products Subledger (FPSL) to deliver a pre-configured approach to regulatory reporting. Project complexity, timeline, and IFRS17 regulation strategy vary greatly by company, but getting a jump start with a preconfigured solution is the best building block for rapid deployment.
Solutions Overview
Detailed Implementation Timeline
The most significant part of any journey is planning the trip, and our implementation project plan has a clear workstream roadmap with business documents, test cases, and data configuration guidance.
Let's Take a Closer Look at the IFRS17 Use Cases or Requirements of Eco Delivery
Additional Services and Extensions to Eco Deliver
Our best practices are created based on our experiences from our projects around the world. Regardless of how comprehensive they are, there might be some exceptional cases that the core content will not cover. Most are identified at the end of the Use Case Catalog review task. If a gap between best practices and customer needs is detected, we can implement that request as an extension to Eco Delivery. Here are some additional add-ons:
- SSO or highly available system configuration
- Development of ETL processes to get the data from source databases
- Creation of estimated cash flows
- Testing with customer data
- Creation of additional reports (SAC)
- Application Maintenance Services after production
- ABAP and Fiori custom developments
- Forecasting, Planning, Simulation Package
- ECP Package
- Advance Financial Closing (AFC)
- Financial Closing Cockpit (FCC)
- IFRS9
How Can We Help?
We’ll work with you to help you understand all your options to help you select the option that best suits your needs, budget, and schedule. For more information on our approach and experience, visit this page.