Cloud transformation with SAP S/4HANA Public Cloud

ACREDIA Versicherung AG

>> Transformation is not achieved through technology alone, but through clear decisions, consistent leadership and a strong team. We deliberately used the changeover to reduce complexity in the long term. Hundreds of cost centres and posting logics were consolidated – the result is a significantly leaner, more robust and future-proof financial platform.

Michael Kolb | Executive Board Member, ACREDIA Group

Background

Before the transformation, ACREDIA's financial landscape was characterised by complex structures that had developed over time. Over the years, hundreds of cost centres, accounts and individually programmed posting rules had been created. This made ongoing maintenance costly, hampered transparency and slowed down agility in accounting.

Instead of a classic upgrade of the existing SAP ECC, ACREDIA made a conscious decision to start afresh: the financial processes were to be standardised, simplified and transferred to the SAP S/4HANA Public Cloud – with the aim of benefiting from continuous innovation while meeting regulatory requirements.

Challenge

Regulation meets innovation: As an insurance company, ACREDIA Versicherung AG is subject to the requirements of the Austrian Financial Market Authority (FMA). A key question at the beginning of the transformation was therefore whether a public cloud solution could meet the high requirements for data protection, data security, governance and operational security.

Together with adesso and SAP Austria, ACREDIA developed an architecture and governance concept specifically tailored to these compliance requirements. A particularly important step was the FMA's approval for the operation of financial processes in the SAP S/4HANA Public Cloud. This decision sends a clear signal to other insurers and financial service providers who are considering similar options.

Solution

ACREDIA and adesso opted for a greenfield approach with consistent fit-to-standard:

  • Process redesign: Existing processes were not migrated 1:1, but systematically adapted to SAP best practices.
  • Radical simplification towards a clean core: The chart of accounts, cost centre structure and posting rules were consistently reduced and standardised (fit-to-standard).
  • Clean core: Adjustments to the core system were largely avoided. All customer-specific requirements and interface connections were implemented entirely in the SAP standard, with only the customising settings provided by SAP being adjusted accordingly – the core remains updatable.
  • Enterprise-grade security: Governance, role and authorisation concepts, and security mechanisms were designed to fully address regulatory requirements.

Added value

ACREDIA Versicherung AG is one of the first financial service providers in the German-speaking region to manage its financial processes entirely via the SAP S/4HANA Public Cloud Edition – implemented in less than twelve months, FMA-approved and consistently aligned with ‘Clean Core’.

Fast go-live, lean processes, secure cloud:

  • First insurance company in Austria to use SAP S/4HANA Public Cloud for finance, controlling and treasury
  • Go-live in less than 12 months: project start in mid-January 2025, productive start on 1 January 2026 – on time, on budget and on quality
  • Significant reduction in complexity: radically simplified account, cost centre and posting logic
  • Future-proof platform: Standardised, cloud-based financial processes that grow with the company
  • Innovation guarantee: Continuous updates and new features of the SAP S/4HANA Public Cloud without costly migration projects
>> The fact that we were able to successfully implement this project in less than twelve months and in a regulated environment is the result of clear governance, a high level of implementation expertise and the partnership-based cooperation between adesso and SAP Austria.

Michael Kolb | Executive Board Member, ACREDIA Group

The ACREDIA Group is an international credit insurer based in Vienna and part of the global Allianz Trade network. With a secured receivables volume of over €35.7 billion, ACREDIA stands for stability, expertise and sustainable growth. The company supports customers in Austria and South-Eastern Europe – particularly in Slovenia, Croatia, Serbia and other countries in the Western Balkans – with professional credit risk protection, sound credit checks on business partners and the strategic development of secure international business relationships.

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