The company has adopted the Talentia CPM solution for financial reporting. In the near future, further integrations are foreseen to adhere to the community regulations
Talentia Software, a leading company in the development of solutions for the management of human and financial resources for medium and large companies, has joined Assiteca, the largest Italian group in business risk management and insurance brokerage by making its platform available financial reporting CPM (Corporate Performance Management) for the management of the consolidated financial statements.
Founded in 1982, Assiteca is today the largest Italian insurance broker. With over 700 employees and offices in Italy, Spain and Switzerland, it carries out risk analysis, consultancy, brokerage and insurance portfolio management activities. Since July 2015 the company has been listed on the Italian Stock Exchange in the AIM Italia Segment.
The opening of the markets and the creation of international relations require national companies to progressively align themselves with the legislation in force in Europe, also because common systems have been introduced to facilitate the efficiency of the financial markets and have a clear and immediate confirmation of the accounting data .
In anticipation of the implementation of the new community procedures, the need arose for Assiteca to integrate the accounting software in use with financial management and budget consolidation.
After a careful evaluation of the solutions available on the market, Assiteca turned to Talentia Software with a precise mission: to integrate the data of the consolidated financial statements as at 30 June 2020 in time for the presentation of the half-yearly report as at 31 March 2021. In less than two months Talentia implemented the CPM solution allowing the presentation of the report in good time. Previously Assiteca drew up the consolidated financial statements simply using the Microsoft Excel application and, while the company prepared the files necessary for the conversion, Talentia dedicated itself to defining the chart of accounts and then proceeding with the transcoding and importing of the data also taking care of internal training. The six-month report was completed on 24 March without any significant critical issues being recorded.
The next step, expected for the next few months, consists in adapting to the IFRS provisions, i.e. the international financial reporting standards (specifically with regard to the ISFR 16) which have the objective of establishing common rules to ensure that corporate financial statements around the world are consistent, transparent and comparable to facilitate the decision-making process of companies.
“The solution proposed by Talentia has proved to be an extremely valuable asset in all aspects relating to the management of our consolidated financial statements. It allows us to have an immediate overview, to be able to quickly upload and correct data and to decentralize certain activities that until now converged in the central office", he says Nicola Girelli, CFO of Assiteca. “CPM has optimal usability for the administrative user and the development of detailed accounting information greatly facilitates all procedures. Even the mere reduction of the exchange or transmission of files that took place previously translates into greater reliability and homogeneity of the data”.
“We were pleased to accept the challenge that Assiteca presented to us. Being able to implement the solution in such a short time and without hitches made us proud of the work done and pushes us to invest and innovate our Talentia solution more and more ", he says. Marco Bossi, Group HCM Business Unit Leader and Managing Director Italy di Talentia Software. "In the coming months we will further strengthen the collaboration between our companies, first with the implementation of the ISFR 16 module and then with the adaptation to the ESEF / iXbrl procedure, which will be operational in 2022".
Talentia CPM combines the functions related to Finance and Corporate Performance Management in a single solution. Thanks to the integrated system for financial reporting, business analysis, budgeting, forecasting, consolidation and closing, Talentia makes information more reliable, increases team productivity and improves decision-making processes.
