Case Study: Credendo achieves faster group-wide financial closing with IBM Services

Supports its credit insurance business with internally industrialized, group-wide financial processes

Credendo, one of Europe’s largest credit insurance groups, needed faster insight into performance across its many subsidiaries and a way to replace fragmented, home-grown accounting systems. To support its finance transformation, Credendo engaged IBM Services and SAP ERP Financials to standardize group-wide financial reporting and improve the consistency of its processes.

IBM implemented a single SAP solution across Credendo’s entities in several European countries, harmonizing core finance tasks such as transaction recording, profit and loss, and statutory accounting. The result was financial closing that is twice as fast, simpler work for finance teams, fewer errors and inconsistencies, and much easier group-wide consolidation with less manual administration.

Credendo

Lode Vermeersch

CIO