The client
A South African bancassurer looking to invest in an IFRS 17 software solution.
The challenge
- Reduce the spend on an IFRS software solution that met the needs of the business and which could be rolled out within tight deadlines.
What MBE did
- Combined knowledge established during a long partnership with the client with the results of interviews with stakeholders to get a clear understanding of needs.
- Established an implementation partner relationship with the vendor, taking on the roll out of the software and consulting elements of the project.
- Designed and delivered an implementation project plan focused on priority areas to control costs.
The results
- 82%+ saving against anticipated spend, from R40m to R7m.
- IFRS software implemented to deadline and quality standards.
- IFRS 17 expertise transferred to the client team.
