– Large multi-year 100m+ digital transformation project to implement SimCorp Dimension, Bloomberg AIM, and new Enterprise data lake/reporting hub
– Client had to implement one global ABOR system across 6 accounting frameworks (IFRS, IAS, USGAAP, JGAAP, USTAX and US STAT) and 10+ countries
– EQUINOX CONSULTING part of project team across several workstreams including, Securities Accounting, Public and Private Market Operations, Testing, US STAT and TAX Reporting and Organizational Readiness
Results
– Successfully went live with largest digital transformation project in the companies 100+ year old history, and one of the largest transformation projects in North America
– EQUINOX CONSULTING team had a lead role across several workstreams and delivered and achieved all client objectives
Technology Stack
– Bloomberg AIM
– Bloomberg Polar Lake (BPL)
– DUCO
– Findur
– INFOR
– DealGen
– Microsoft Power BI
Engagement Objectives
– Client seeking to transform their fractured ecosystem which contained a large amount of technical debt from various acquisitions and different geological operating models to using one consolidated accounting system globally
– EQUINOX CONSULTING team was brought on to provide subject matter expertise across Accounting Book of Record (ABOR), Investment Book of Record (IBOR), NAIC, Reconciliation (GL, SLvGL, Position, Cash) and Business Operations Support
– EQUINOX CONSULTING team provided executives with guidance on best practices, and helped to define the approach and strategy to help achieve project milestones
Solution Highlights
– Implemented one ABOR/IBOR used globally across all business units which included both Corporate GL and Asset Management (NAV) accounting with 3000+ portfolios and 400,000+ tax lots
– Solution fully integrated across the ecosystem, with 3x OMS systems, external GL, EDM and data lake for downstream reporting functions (Risk, Performance)
– Reporting solution fully transitioned a batch/report operations to DaaS solution which empowers all users across all business lines to self serve their own data requirements