European Major Insurance Company
Insurance Industry
Quick Facts
- European Headquarters: Zeist, the Netherlands
- Industry: Insurance
- Products and Services: Insurances
- Employees: 13,000+ (worldwide)
- Financial/Solvency II Reporting with SAP Disclosure Management (BODM)
Specifications
Challenges and Opportunities
- Organizational structure not optimized for efficient execution of international European business processes
- Process Inefficiencies & duplication of entries
- Inefficient European sales/production/logistics process
- High operational costs caused by multiple legacy systems
Objectives
- Increase data quality and reliability
- Improve data and process integration between entities and head-office
- Shorten and more reliable customer delivery cycle
Implementation Highlights
- Implementation of Standardized Inter European Business Practices – Increased Efficiency across Functions
- Minimization of legal entities to optimize the organizational structure.
- Reduced operational costs of legacy systems
- Rollout of SAP template into 4 European countries, including FI/CO/MM/WM/SD/PP/QM/ HR functionality on a single standard ERP Platform
Why SAP
- Complete end-to-end process covered into one platform
- Full integration of operational processes with clear insights on delivery to promise towards customers
- Aligned IT-architecture and intercompany automation
Benefits
- One Global GL for consolidation & Rollout of SOX compliant processes across all countries à Increased Controllership
- Delivered Integrated European solution comply with Stat requirements in all countries & to ensure integration with shared services providers
- Reduced TCO: ~25%
- Reduced business risks by moving to a fully supported and up to date version of SAP
- Stable ERP Platform provided to enable future growth