Go live: Finance and Accounting Shared Service Center for Allianz 

To improve the efficiency, effectiveness and harmonization of its finance and accounting operations, Allianz New Europe established a Shared Service Center in Bratislava, Slovakia to provide financial accounting, regulatory and corporate reporting, and management accounting support services for it’s companies across Eastern Europe.

The establishment of the Shared Service Center is a major achievement in the Allianz Group’s strategy to transform Allianz’s finance functions and to improve data quality & consistency, reporting speed & efficiency of their finance departments worldwide. The Shared Service Center for Allianz New Europe is the first such center for the Allianz Group and the first multinational Shared Service Center for Finance and Accounting in the insurance industry.

Lodestone was the delivery partner for the definition and implementation of the Shared Service Center. Allianz was looking for a partner to help with the successful establishment of the new Center. Lodestone was chosen because of our deep industry, business processes and technology expertise combined with our well proven program, system and business performance management methods enabling Allianz to realize business value with minimum risk.

Lodestone designed and implemented an operating model, new processes, organization and systems (SAP) for the Shared Service Center. With Lodestone, Allianz achieved their goals to establish an efficient Center including all infrastructure, processes, finance accounting and reporting applications based on SAP, workflow and document management systems with less then one year project duration.

For Allianz, this project is a cornerstone in achieving world class accounting and reporting. The Shared Service Center in Bratislava will not only enable Allianz New Europe to achieve its growth and efficiency targets, but also as a model for other Allianz companies/regions worldwide. Lodestone is proud that Allianz turned to Lodestone to help ensure that the effort was not only successful, but also serves as an industryleading example of business transformation.