How to Build a single chart of accounts across Europe?
To take advantage of the efficiency and transparency benefits of a Europe-wide single chart of accounts, financial services firm Achmea has consolidated 28 charts into 1 and has reduced its general ledgers from five to one. Heinz Warmerdam shares how after two years of little progress they turned the project round and completed it in just four months. The team has reduced its finance staff from 180 to 110, is now focused on reducing reporting time from 22 to 10 days and increasing general ledger accounting productivity by 75% and its whole financial organisation’s activity by 30%. This session illustrates the actions that made this possible.