Case Study: Société Générale Insurance Russia achieves 80% reduction in monthly closing workload and regulatory compliance with Axway Accounting Integration Suite

Axway helps automate and secure monthly closing processes to meet new regulatory rules

Société Générale Insurance Russia, a Moscow-based life insurer serving bank customers through three local banks, faced a labor-intensive, error-prone monthly accounting close that relied on 80+ Excel spreadsheets and manual processes. The company also needed to implement a new chart of accounts required by the Russian Central Bank and support multi-ledger reporting, but its legacy system could not be adapted within the tight regulatory timeline.

Société Générale Insurance Russia deployed Axway Accounting Integration Suite and Axway Sentinel to automate event-to-entry transformation with a central rules engine, audit trail storage and dashboards; the solution went live nine months after kickoff. Results included an 80% reduction in monthly closing workload, comprehensive, traceable audit trails, much faster posting-rule changes (now done in about 20% of the prior time), multi-ledger support and on-time, on-budget delivery.

Societe Generale

Arnaud de la Hosseraye

Head of Société Générale