Case Study: a global insurance company drives growth and IFRS17 compliance in China with BearingPoint's SAP ERP solution

Global Insurance Company integrates 50 local legal requirements with BearingPoint to boost China growth

A global insurance company faced the challenge of expanding into the newly deregulated Chinese market. Outdated IT systems and unsynchronized accounting processes prevented efficient collaboration and created a high risk of error, while complex local requirements and the upcoming IFRS17 standard added to their difficulties. BearingPoint was engaged to help them leverage an SAP ERP solution to ensure compliance and support growth.

BearingPoint implemented a new SAP ERP system that was adapted to local Chinese legal requirements and integrated with a large data warehouse. They developed a specific data management tool to automate the processing of vast daily accounting volumes and provided localized user documentation. As a result, the client is now positioned for growth with a compliant, integrated finance system operated from their European headquarters, which significantly improved efficiency, reduced maintenance costs, and minimized the risk of human error.