Bank & Insurance
Talentia Software has supported Assiteca, the largest independent insurance broker in Italy, by providing its financial reporting platform Talentia CPM (Corporate Performance Management).
Founded in 1982, Assiteca has today more than 700 employees and offices in Italy, Spain, and Switzerland. This Italian group works with many customers to ensure Integrated Business Risk Management through a methodology that combines analysis, consulting, and brokerage. Since July 2015, the company has been listed on the Italian Stock Exchange.
M&A and international investors boost require companies to progressively align themselves with the European regulations if they want to keep growing. Also, common systems have been introduced to facilitate the efficiency of financial markets and have a clear and immediate feedback of accounting data.
To implement the new EU procedures, Assiteca needed to integrate its accounting software with financial and consolidation management processes.
After a detailed overview of the available solutions on the market, Assiteca chose Talentia Software. The goal? Integrate the data of the consolidated financial statements on June 30, 2020, in time. And Talentia did it in less than two months.
Before Assiteca prepared the consolidation process just using Excel. Now with Talentia, the whole process is automated.
The following step was to meet IFRS requirements, i.e. international financial reporting standards (specifically IFRS 16) that aim to establish common rules to ensure that corporate financial statements around the world are consistent, transparent, and comparable to facilitate business decision-making.