Case Study: Allianz achieves faster, lower-cost, higher-quality financial close with Redwood Software

Insurance provider reduces close effort and cost while improving quality and consistency with automation

Allianz, a global insurer and asset manager serving more than 100 million clients, faced a costly, time-consuming Record-to-Report (R2R) process that relied on repetitive manual work. The company needed to reduce effort and cost, improve data quality, consistency and transparency, and eliminate trade-processing delays that led to outdated investment stock data — all while improving employee satisfaction.

Allianz implemented Redwood Business Process Automation – Finance Edition to automate R2R and accounting workflows. The automation delivered an 11-month ROI, reduced manual effort by about 80% and automated 90% of close-associated tasks, cut close time and labor by 65%, shrank R2R processes by 86% (from 136 to 19), eliminated backlog and latency, and freed employees to focus on higher-value work.

Allianz