If you need to get IFRS17 compliant, we know the way.

How many times have you heard the phrase  — It’s About the Journey? About a million, right? It’s actually the second half of this longer expression: It’s not about the destination. It’s about the journey. Well, in this case, the destination’s predetermined: You need to comply with IFRS17 — or any number of regulatory reporting requirements. You can see where you need to be. But you’re not sure how to get there. That’s what this post is all about. 

If your destination is the implementation and maximization of regulatory reporting, we can navigate, drive, make the appropriate accommodations, and make sure you’re comfortable on the way and once we get there. Most important, we can do as much or as little as you need us to do. Your satisfaction — on the journey and once we arrive — is our objective. And the primary vehicle we use to take this journey is SAP S/4HANA for Financial Products Subledger (FPSL).  Whether you are just starting out or already on your way and need guidance we can provide the expertise to make the destination more accessible.

What Now?

Another famous expression says this: A journey of a thousand miles begins with a single step. So, we’ll start with the first step. Then we’ll determine the next steps required to reach our destination, and we’ll take them. Those steps might very well look like these: 

1. Determine your schedule. We’ll get you where you want to be when you want to be there.
2. Understand the terrain. We’ll assess your operating environment to understand the landscape through which we’ll be traveling — everything from your technology environment to the systems you run in it, from your processes to your workflows.
3. Define the scope of the journey. How far do we have to go? What will it take to get us there?
4. Make the travel schedule. We’ll apply our services in the way that ensures your timely arrival. And utilize our tried and true project accelerator templates to map the journey.
5. Adhere to the schedule. We’ll use a travel methodology that allows for unforeseen circumstances, applying accelerators as needed to stay on schedule.
6. Make you comfortable. Before and after arrival, we’ll transfer knowledge to your team to enable you to continue your journey beyond your initial destination. We can run parts of the journey with you or equip you to manage on your own with our guidance and tools.
7. Get local help. If you need help for smaller excursions, we’ll work with you and your local partners to get them up to speed, to keep you on the road to success, and to give you the degree of self-sufficiency you want in your travels.
8. Be flexible. Not everyone chooses to travel the same roads, by the same means. We’ll acknowledge your particular desires. It’s your journey to undertake and enjoy. We’ll walk the line between accommodating your unique needs and incurring the costs of customization.

When Do We Leave?

Since we developed the standard for implementing FPSL, we’re ready to go when you are. And as the solution development partner of SAP we have a vested interest in your success. We’ll apply our standard, cost-effective approach to your journey, and we’ll apply our experience and expertise to work around unduly expensive adaptations. One way or the other, we’ll get you where you want to go. We’ll get you the results you need. And we’ll make sure you have the skills to continue your journey in whatever way you choose to travel.

For more information on SAP S/4HANA Financial Products Subledger Services, please visit our website here or contact Birgit Rathje.