Key changes

Benefits

Accounting derived by transaction entry

Reduction in manual General Ledger journal entry; provides more consistent data and reporting through use of system enabled processes. 

Integration across financial modules

System enabled reconciliations to facilitate quicker closure and reconciliation activities. More robust reporting supporting financial analysis.

Move of Implementation Agent code from Chart of Accounts to be represented as responsible party in projects areas

Eliminates duplication of data across General Ledger and operational elements as Implementing Agents are modeled in a common location. 

System embedded financial controls to model Internal Control Framework

Reduction of exceptions and eliminates transaction and data inconsistencies through system financial processes.

New modern Treasury solution

Introduction of integrated Treasury platform provides more payment options, including digital currency and mobile payments in future.