In the UK, Aviva is the largest general insurance provider and a leading life insurer. Historically, Aviva's finance function utilised their existing financial consolidation and external reporting tools for planning. This solution afforded the team financial control, given consistency with external reporting processes, but lacked the agility necessary in planning to build scenarios quickly and deal with multiple versions.
Aviva introduced a new way of segmenting its business into material ‘cells' aligned to management structures and individual responsibility. However, the planning tool based on financial reporting entities was unable to easily mirror the new cell structure.
This case study looks at how Aviva implemented new software which ensured continued financial control and a speedy aggregation of group view.
- The business problem pre-Anaplan.
- Key challenges and software selection criteria.