In 2020, Generali began a transformative collaboration with Systemic, implementing cutting-edge investments accounting software designed for their own funds and unit-linked products. This sophisticated solution facilitated integration with portfolio managers and custodians, allowing for detailed valuation, monitoring of investment portfolios and their expenses, and generation of accounting records according to IFRS standards.

Throughout the project, Generali faced significant hurdles. Maintaining data integrity and uniformity across various systems and departments posed a considerable challenge. Additionally, adapting the system to accommodate specific internal requirements that had been established over many years, while integrating re-engineered processes, required innovative solutions. The project demanded a deep understanding of Generali’s unique operational landscape to ensure seamless integration and functionality.

Despite these challenges, the benefits for Generali have been profound. The company has achieved heightened efficiency in everyday operations and internal controls. The shift towards clearer and more consistent financial reporting has been successfully realized, ensuring precision and dependability in their financial processes. Enhanced oversight and control mechanisms have been established, contributing to more effective risk management. This collaboration has positioned Generali for enhanced operational performance and regulatory compliance, enabling the company to meet its financial and strategic goals with increased assurance.

Summarising what Generali has gained:

• Efficiency in their everyday operations and internal controls.
• Shift towards clearer and more consistent financial reporting.
• Precision and dependability