Accenture Helps AXA Optimize its Finance Function in Europe

| October 18, 2012 | 0 Comments


Accenture (ACN) is helping AXA, one of the world’s leading
insurers, streamline its finance function across its European
operations. The program has been implemented in France, Italy, Ireland,
Portugal, Spain and the UK, and is expected to be implemented in Germany
and Switzerland by early 2013 and in Belgium by early 2014.

Under the multi-year technology and management consulting agreement,
which began in 2009, Accenture is helping AXA develop and implement a
common finance and reporting information technology (IT) system based on
SAP® solutions. Accenture is also providing management consulting
services that help AXA design and implement centralized finance and
accounting (FA) processes, including accounts payable, accounts
receivable, month-end close and balance sheet reconciliations.

“This program is helping us increase consistency in our accounting
principles, optimize costs and allows our finance teams to focus on
analyzing information rather than on gathering and reconciling data,”
said Virginie Babinet, AXA Finance and Procurement solutions managing
Director within AXA Group Solutions. “Accenture’s insurance industry
knowledge and expertise in finance operations, combined with its
in-depth understanding of SAP solutions and track record of large
systems integration projects, make it the best business partner for this

“Our research has found that 70 percent of companies with
high-performing finance organizations exceed their peers in overall
business performance,” said Eric Veron, managing director for
Accenture’s Insurance practice in France. “By transforming its finance
function, AXA is not only satisfying essential compliance and cost
control needs, but helping move this function to the forefront of the
business, where it can help drive high performance across the

“Finance functions are facing significant challenges from multiple
directions,” says Steve Culp, managing director, Accenture Finance
Risk Services. “Continued market and economic volatility, waves of new
regulatory requirements and demands from businesses to turn
ever-increasing volumes of data into insightful information are driving
the finance function to once again raise their game.”

Accenture Finance and Risk Services serves more than 500 financial
institutions worldwide, helping them improve the performance of their
finance and risk management functions.

About Accenture

Accenture is a global management consulting, technology services and
outsourcing company, with 257,000 people serving clients in more than
120 countries. Combining unparalleled experience, comprehensive
capabilities across all industries and business functions, and extensive
research on the world’s most successful companies, Accenture
collaborates with clients to help them become high-performance
businesses and governments. The company generated net revenues of
US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page

About the AXA Group

The AXA Group is a worldwide leader in insurance and asset management,
with 163,000 employees serving 101 million clients in 57 countries. In
2011, IFRS revenues amounted to Euro 86.1 billion and IFRS underlying
earnings to Euro 3.9 billion. AXA had Euro 1,065 billion in assets under
management as of December 31, 2011.

The AXA ordinary share is listed on compartment A of Euronext Paris
under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP –
Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the
OTC QX platform under the ticker symbol AXAHY.

The AXA Group is included in the main international SRI indexes, such as
Dow Jones Sustainability Index (DJSI) and FTSE4GOOD, and is a founding
member of the UN Environment Programme’s Finance Initiative (UNEP FI)
Principles for Sustainable Insurance.

Company website:

SAP and all SAP logos are trademarks or registered trademarks of SAP AG
in Germany and in several other countries.

All other product and service names mentioned are the trademarks of
their respective companies.

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