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Finance
Case Studies
Adopt Cloud ERP to Achieve Faster Financial Close and Improve Risk Management
6 min
Company: QBE Insurance
Executive Role: Sushma Segal – Group Finance COO
Technology Initiative: Adopt Cloud ERP to Achieve Faster Financial Close and Improve Risk Management
Approach:Â
- Adopt scenario planning to evaluate risk more holistically across the organisation
- Pivot from a traditional data consumption role into an analysis and insights production function
- Focus on skills for the future of now to price externalities and improve forward planning
- Simplify and augment processes with the right technologies to pivot towards more ad-hoc work
Challenges:
- External pressure to price climate risks is accelerating
- Resourcing constraints caused by a growing frequency and severity of externalities
- Change management is a complex process that requires empathy, value, and skill
Results:
- Creating consistent metrics that matter help to articulate organisation-wide benefits
- Delivered Q1, 2020 financial close within usual timeframes at the height of the pandemic
- Faster…