success story

Financial services company improves pension sign-up and fund management through platform modernization

Our client, one of the top financial services in Europe was seeking to replace their heritage financial system to enable easier adoption of digital strategy. They embarked on their digital transformation journey with a legacy decommissioning plan.

The client chose Virtusa as their partner of choice because of their experience and domain expertise along with a track record for digitally transforming global organizations in the financial services industry.

 

 

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The Challenge

The client sought a partner with deep industry and S/4 expertise to deploy new SAP product.

  • 7bn pension investment fund requiring real-time enterprise and analytics to drive investment decisions
  • Seeking to replace the heritage financial system Diamant/2X to enable easier adoption of digital strategies
  • Multitude of legacy systems with numerous integration points increasing total cost of ownership
  • Volatile industry prone to rapid regulatory and compliance changes required to be adopted to maintain stature
The Solution
  • Deploy a greenfield S/4HANA Enterprise management systems
  • Developed reference architecture with legacy decommissioning plan
  • Evaluate and convert complex data scenarios
  • Assessed and converted multiple manual processes to be fully or partially automated
  • The following modules were fully implemented: FI, FI-AA, CO, TRM, MM, FI-BL.
The Solution
The Benefit
  • Improved real-time finance reporting ~5x on S/4HANA *
  • Reduced TCO by up to $18% *
  • Deployed in under 12 months to reap in year ROI
  • Project delivered with only X number for Severity One incidents
  • End-to-end delivery undertaken including, PMO, OCM, design, build, testing, and go-live
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