FinArch - Financial Studio
Service Type:Consulting, Professional Service
Business Need:Accounting, Tax Management, Financial Analytics and Reporting, Financial Compliance
Works With:SQL Server 2008 Enterprise Edition, SQL Server 2008 R2, SQL Server 2008 Standard Edition, Windows Server 2008 Enterprise, Windows Server 2008 R2
Industry Focus:Financial Services
Currently unique set of industry-specific challenge and requirement are faced by the world of financial services. Recognizing these specific challenges faced by the financial services industry and the benefits achieved through the adoption of integrated ERP (Enterprise Resource Planning) solution in other industries, we set out to define the concept of Financial Resource Planning (FRP). Few organizations have the appetite to embark on a complete overhaul of the existing systems architecture. Hence the key success is to select a platform solution that makes the business unit more valuable, deliver quick wins and can be implemented in modular fashion. With the constant changes of the requirements in financial services, we can help gives your financial services a robust system that can cover the latest issue of financial challenges and requirements, such as International Financial Report Standard (IFRS), Assets and Liabilities Management (ALM), and Basel II / III.
By using Microsoft as a platform, we do some benchmark test using different volumes of data and different sets of hardware configuration. The test comprised the various steps of the IFRS solution within FinArch's Financial Studio as our FRP solution.
The process steps that is being done:
1. ETL of the data (Load, validation and history management handling) - by using SSIS tool;
2. IFRS calculations - by the application on top of Microsoft Windows Server 2008;
3. Creation of the Accounting postings - by the application on top of Microsoft Windows Server 2008 R2 and Microsoft SQL Server 2008 R2;
4. Update of the Multi-Gaap General Ledger (GL) and the SRP (Secondary Reporting Process) derivation of the reporting codes - by the application on top of Microsoft Windows Server 2008 R2.
Based on a sample of 2,000,000 NEW contracts and 2,000,000 postings to be treated into the Multi-Gaap GL, the total processing time was between 4,5 hours and 6,5 hours.
All end-to-end processes are using Microsoft platform covering operating system, database engine, and ETL tool.
FinArch - Financial Studio has not been reviewed by any customers.
The views and opinions submitted and expressed here are not those of Microsoft.