COVEA deploys SAP S / 4 HANA as part of its financial transformation plan .
To achieve its objective of aligning financial processes for all its subsidiaries , the COVEA group relies on SAP S / 4 HANA .
COVEA is composed of the three mutuals MAAF , MMA and GMF , leaders in property insurance and responsibility in France . The key figures for 2017 are : - 26,000 employees : 21,000 in France and 5,000 abroad - Nearly 2,700 points of sale - In France , 11.5 million members and customers - Premiums earned ( France & International ): € 16.3 billion - Combined net income ( group share ): € 818m - Equity : € 14.7 billion
The financial function at the heart of the strategic plan
COVEA ’ s strategy is to mutualize the central and backoffice functions while keeping the customer relationship with their different markets to the brands . In this context , the COMEX of the COVEA group decided , in July 2018 , to align the financial processes of the various subsidiaries and to respond to the obsolescence of the existing accounting tools . In September 2018 , COVEA launched a consultation for its “ Convergence Finance ” program . The project ’ s roadmap aims to achieve the following objectives . First objective is to improve the efficiency of business and operational processes between its three brands . This requires the definition of a common language for the entire group , as well as the harmonization of financial processes and reporting , the reduction of low valueadded activities and the automation of repetitive tasks . The second objective is to simplify and rationalize the information system in order to reduce the operational risk of multiple systems and their obsolescence . In addition to optimizing the standardization of tools , COVEA also needs to define a norm of integration , build a transactional data source for the entire group in order to facilitate future transformations . The construction of this new platform will ensure that changes in regulatory requirements are met more quickly and at a lower cost . Last but not least , to make economic management more reliable and faster . The transformations generated by technology are leading to profound changes in insurance . The ability to manage the Group more consistently will bring efficiency , responsiveness and strategic agility to COVEA .
SAP wins for its state-of-the-art financial solutions
To choose the solution and the service provider , the bidding is organized in two phases : choice of the tool , and choice of the integrator . The selection process has been conducted by the COVEA group between September 2018 and March 2019 . After a pre-selection of several solutions , COVEA opted for SAP . On the one hand , the publisher already had references in insurance ; and on the other hand , the technologies on which the SAP solution is based (“ in memory ” technology ) opens up the world of possibilities in terms of reporting and data exploitation . The core of the selected solution will be based on the SAP HANA database combined with the S / 4 HANA ERP ( Finance modules ). This will be complemented , for budget management , by SAP Analytics Cloud Planning . Finally , SAP Profitabilty and Performance Management will manage the cost management . The choice of deploying on the private Cloud of SAP has been made to benefit from more flexible technical platforms , and from the latest innovations of the software publisher more quickly .
A progressive deployment
The project was therefore launched in early July 2019 . The design phase of the target model is expected to be completed by mid-2020 . In parallel , a prototyping environment will allow to share with users to make the new processes and tool more concrete . These workshops promote a customization closer to user needs , as well as the sharing of a common vocabulary for all brands . The development and configuration phase will be carried out by Accenture . A first integration and testing phase has been planned for 2021 , and the first wave of operational deployment of the project is scheduled for January 1 , 2022 . Ultimately , 500 users will be involved in this project . Learn More