105 0 Kommentare Northern Trust Upgrades Cloud-Based Insurance Accounting and Analytics Application

Northern Trust (Nasdaq: NTRS) announced today the successful upgrade of its SAP Financial Asset Management application to SAP S/4HANA, which further enhances its Insurance Investment Accounting and Analytics Services solution, developed to support the full spectrum of investment accounting and regulatory reporting needs for U.S. insurance companies and corporate and endowment markets.

The upgrade incorporates Northern Trust’s interactive digital interface with the power of SAP S/4HANA to provide an end-to-end solution covering all investment types and reporting needs.

The advanced cloud-based interface automates and streamlines insurance accounting and reporting processes, enabling faster processing and reporting. One of the most significant innovations of SAP S/4HANA is its ability to perform in-memory computing. The redesign of database storage to prioritize transactions in a timely and accurate manner means that stakeholders can survey more data in less time. This means business decisions can be made with a more holistic dataset, answering the accounting needs of insurers as they face both heightened regulatory reporting requirements and an industry-wide push for digital transformation.

“For Northern Trust, the move to SAP S/4HANA is more than just a system upgrade, it’s about enhancing the digital experience for our clients and enabling greater efficiency,” said Chris Dvorak, Practice Executive, Asset Owners, Americas at Northern Trust. “Our upgrade to SAP S/4HANA significantly improves reporting speeds and sets the stage for future enhancements, including investment related insights and analytics. This upgrade benefits our clients by providing faster and more efficient reporting, aligning with our commitment to innovation in insurance investment accounting and analytics.”

The Investment Accounting and Analytics Services solution allows insurance companies to:

Spot trends, risks and opportunities through the ability to view and analyze underlying data.
Analyze data more quickly and finely by drilling down into detailed views of the underlying data.
View the impact of portfolio changes throughout the portfolio by clicking through report types.
Receive report updates faster when providing new data to the Northern Trust team.
Identify strategic questions with more detailed data analysis.

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“Northern Trust’s upgrade to SAP S/4HANA reflects their commitment to leveraging cutting-edge technology,” said Falk Rieker, Global Head of IBU Financial Services at SAP. “With S/4HANA’s innovative in-memory computing capabilities, Northern Trust will experience faster data access, streamlined operations and reduced data duplications. We are excited to support them with their insurance investment accounting operations.”

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