Replacing the entire system architecture or significant parts involves the replacement or remodelling of accounting systems at many points of the supply chain, beyond the control of Finance. This also applies when new components are added for integrated reporting. Only in the rarest cases is Finance the initiator of this change – but almost almost always it will significantly affected. Most commonly the expectations associated with these modernisation projects – e.g. for trading or lending architectures – is that they will leave the financial reporting figures unscathed. But this is only possible if the Finance Division is actively involved in the modernisation itself.
For many years, our employees have advocated the interests of Finance while accompanying national and international banks in major and complex projects for the transformation of their trading, lending and transactional architectures. We would gladly outline for you the typical front/back office pitfalls inherent to this kind of system migration, join with you to develop sensible, structured finance involvement in these projects and in their realisation.