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Northern Trust (Nasdaq: NTRS) upgrades its SAP Financial Asset Management application to SAP S/4HANA, enhancing its Insurance Investment Accounting and Analytics Services for U.S. insurance companies and corporate markets. The cloud-based interface automates processes, enabling faster reporting and data analysis. The upgrade incorporates interactive digital features and in-memory computing capabilities, providing valuable insights for decision-making.
Northern Trust (Nasdaq: NTRS) ha aggiornato la sua applicazione SAP Financial Asset Management a SAP S/4HANA, migliorando i suoi servizi di contabilità e analisi degli investimenti assicurativi per le compagnie di assicurazioni statunitensi e i mercati aziendali. L'interfaccia basata su cloud automatizza i processi, consentendo una reportistica e un'analisi dei dati più rapide. L'aggiornamento include funzionalità digitali interattive e capacità di computing in-memory, fornendo intuizioni preziose per il processo decisionale.
Northern Trust (Nasdaq: NTRS) ha actualizado su aplicación de Gestión de Activos Financieros SAP a SAP S/4HANA, mejorando sus Servicios de Contabilidad y Análisis de Inversiones para compañías de seguros en EE.UU. y mercados corporativos. La interfaz basada en la nube automatiza los procesos, permitiendo un reporte y análisis de datos más rápidos. La mejora incorpora características digitales interactivas y capacidades de computación en memoria, ofreciendo percepciones valiosas para la toma de decisiones.
노던 트러스트(Nasdaq: NTRS)는 자사의 SAP 금융 자산 관리 애플리케이션을 SAP S/4HANA로 업그레이드하여 미국 보험 회사와 기업 시장을 위한 보험 투자 회계 및 분석 서비스를 향상시켰습니다. 클라우드 기반 인터페이스는 프로세스를 자동화하여 보고 및 데이터 분석 속도를 빠르게 합니다. 업그레이드는 인터랙티브 디지털 기능과 인메모리 컴퓨팅 기능을 포함하여 의사 결정을 위한 귀중한 통찰력을 제공합니다.
Northern Trust (Nasdaq: NTRS) a mis à niveau son application de gestion des actifs financiers SAP à SAP S/4HANA, améliorant ainsi ses services de comptabilité et d'analyse des investissements en assurance pour les compagnies d'assurance américaines et les marchés corporatifs. L'interface basée sur le cloud automatise les processus, permettant un rapportage et une analyse des données plus rapides. La mise à niveau intègre des fonctionnalités numériques interactives et des capacités de calcul en mémoire, offrant des insights précieux pour la prise de décision.
Northern Trust (Nasdaq: NTRS) hat seine SAP Financial Asset Management-Anwendung auf SAP S/4HANA aufgerüstet und verbessert damit seine Buchhaltungs- und Analyse-Dienstleistungen für Investitionen im Versicherungsbereich für US-Versicherungsgesellschaften und Unternehmensmärkte. Die Cloud-basierte Schnittstelle automatisiert Prozesse und ermöglicht schnellere Berichterstattung und Datenanalyse. Das Upgrade umfasst interaktive digitale Funktionen und In-Memory-Computing-Fähigkeiten, die wertvolle Einsichten für Entscheidungen bereitstellen.
Positive
Enhancement of Insurance Investment Accounting and Analytics Services
Automated and streamlined insurance accounting and reporting processes
Faster processing and reporting capabilities
Incorporation of interactive digital features
Utilization of in-memory computing for quicker data analysis
Support for full spectrum of investment accounting and regulatory reporting needs
Negative
None.
Leveraging SAP S/4HANA to enable advanced data analytics and offer valuable insights for informed decision-making by insurance clients
CHICAGO--(BUSINESS WIRE)--
Northern Trust (Nasdaq: NTRS) announced today the successful upgrade of its SAP Financial Asset Management application to SAP S/4HANA, which further enhances its Insurance Investment Accounting and Analytics Services solution, developed to support the full spectrum of investment accounting and regulatory reporting needs for U.S. insurance companies and corporate and endowment markets.
The upgrade incorporates Northern Trust’s interactive digital interface with the power of SAP S/4HANA to provide an end-to-end solution covering all investment types and reporting needs.
The advanced cloud-based interface automates and streamlines insurance accounting and reporting processes, enabling faster processing and reporting. One of the most significant innovations of SAP S/4HANA is its ability to perform in-memory computing. The redesign of database storage to prioritize transactions in a timely and accurate manner means that stakeholders can survey more data in less time. This means business decisions can be made with a more holistic dataset, answering the accounting needs of insurers as they face both heightened regulatory reporting requirements and an industry-wide push for digital transformation.
“For Northern Trust, the move to SAP S/4HANA is more than just a system upgrade, it’s about enhancing the digital experience for our clients and enabling greater efficiency,” said Chris Dvorak, Practice Executive, Asset Owners, Americas at Northern Trust. “Our upgrade to SAP S/4HANA significantly improves reporting speeds and sets the stage for future enhancements, including investment related insights and analytics. This upgrade benefits our clients by providing faster and more efficient reporting, aligning with our commitment to innovation in insurance investment accounting and analytics.”
The Investment Accounting and Analytics Services solution allows insurance companies to:
Spot trends, risks and opportunities through the ability to view and analyze underlying data.
Analyze data more quickly and finely by drilling down into detailed views of the underlying data.
View the impact of portfolio changes throughout the portfolio by clicking through report types.
Receive report updates faster when providing new data to the Northern Trust team.
Identify strategic questions with more detailed data analysis.
“Northern Trust’s upgrade to SAP S/4HANA reflects their commitment to leveraging cutting-edge technology,” said Falk Rieker, Global Head of IBU Financial Services at SAP. “With S/4HANA’s innovative in-memory computing capabilities, Northern Trust will experience faster data access, streamlined operations and reduced data duplications. We are excited to support them with their insurance investment accounting operations.”
“We are thrilled to continue working with Northern Trust on their most recent integration to SAP S/4HANA” said Vesa Kemppainen, Executive Vice President at msg global solutions. “Our role as the system integrator is to enhance their operational efficiency and overall performance. Our seamless integration and tailored solutions empower Northern Trust to achieve their business objectives and stay competitive in the market.”
The platform’s technology is backed up by Northern Trust Insurance Solutions’ fully dedicated service team led by insurance accounting experts focused on clients’ unique requirements. Northern Trust Insurance Solutions services 183 insurance clients across the globe with $814 billion in assets under custody as of December 31, 2023.
Northern Trust has had an unwavering and longstanding commitment to the asset owner space for many decades. The goal within the asset owner segment is to empower the missions of its clients, helping them to maximize investment returns so that they may then serve their constituents, their communities and the world.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2024, Northern Trust had assets under custody/administration of US$16.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
What did Northern Trust upgrade its SAP Financial Asset Management application to?
Northern Trust upgraded its SAP Financial Asset Management application to SAP S/4HANA.
What are the benefits of the upgrade for insurance clients?
The upgrade enhances Insurance Investment Accounting and Analytics Services, automates processes, and enables faster reporting and data analysis.
How does SAP S/4HANA provide valuable insights for decision-making?
SAP S/4HANA utilizes in-memory computing for quicker data analysis, allowing stakeholders to survey more data in less time and make more informed business decisions.
What industry sectors will benefit from Northern Trust's upgraded solution?
The solution is developed to support the full spectrum of investment accounting and regulatory reporting needs for U.S. insurance companies and corporate and endowment markets.
