Name: IFRS 17 Solution Suite
Price: 50000 USD
Author: Systemorph

Help Desk

Web and Video Conferencing

Customer Support

Business Intelligence (BI)

Collaboration

Contract Management

Data Extraction

Operational Analytics

Risk Management

Streaming Analytics

Enterprise

Accounting

Budgeting and Forecasting

Cash Flow Management

Crypto Accounting

Crypto Asset Management

Investor Relations

Finance and Accounting

Applicant Tracking

Background Check

Corporate Learning Management

Employee Recognition

HR Management

Payroll

Talent Intelligence

Talent Management

Technical Skills Assessment

Workforce Analytics

Workforce Management

Human Resources

Application Lifecycle Management (ALM)

Authorization

Cloud Storage

Continuous Delivery

Converged Infrastructure

Data Fabric

Data Science

Fraud Detection

IT Service Providers

Identity Verification

Integration Platform as a Service (iPaaS)

Intranet

IoT Security

Network Monitoring

Network Performance Monitoring

NoSQL Databases

Secret Managers

Web Portal

Wireless WAN

Information Technology

A/B Testing

AI Image Generation

Ad Serving & Retargeting

All-in-One Marketing

Audio Editing

Content Management

Email Marketing

Marketing Automation

Predictive Analytics

Retail Media Advertising

Screen and Video Capture

Social Media Management

Survey & Forms Building

Video

Web Analytics

Marketing

Project Management

Wireframing

Professional Services

Customer Relationship Management (CRM)

Revenue Operations

Sales

API Security

Security

Animal Shelter

Architecture

Chargeback Management

Computer-Aided Design (CAD)

Debt Collection

Dental

Moving Software

Oil and Gas

Tax Practice Management

Vertical-Specific

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The IFRS 17 Solution Suite, developed by Systemorph AG, is a software solution designed to assist companies in implementing and complying with the International Financial Reporting Standard (IFRS) 17. This suite of tools caters to businesses of various sizes operating in the insurance industry. According to the vendor, the IFRS 17 Solution Suite offers a range of features and functionalities to support the calculation, reporting, and analysis of financial data related to insurance contracts.

## Key Features

**IFRS17 TEMPLATE PROJECT**: The IFRS 17 Solution Suite provides a standard working IFRS 17 template that can be used immediately. Users can explore all available features and play with prepared examples. It also allows for the creation of a copy of the template and importing data to see the resulting numbers, providing a basis for starting an IFRS 17 implementation.

**SMC Calculation Engine**: According to the vendor, this solution offers an open source IFRS 17 implementation on the market. It provides transparency, control, and flexibility, allowing users to adjust the solution to their specific needs. Access to specifications, actuarial documentation, and the full source code is granted, enabling extension and adaptation of the standard solution.

**Modular and end-to-end**: The IFRS 17 Solution Suite covers critical aspects of an IFRS 17 implementation. It offers a modular approach, allowing users to use the solution end-to-end or select specific functionalities as needed. The suite provides examples of use cases, demonstrating its flexibility and versatility, and enables the creation of a professional IFRS 17 business application.

**IFRS17 Accounting Solution**: Users can import data and calculate Present Values, Risk Adjustment, CSM/LC, and Financial Performance with this feature. According to the vendor, it supports the analysis and understanding of financials related to IFRS 17 and facilitates the production of Accounting Events based on IFRS 17 requirements.

**IFRS17 C-Level Reporting**: The IFRS 17 Solution Suite provides real-time and interactive reporting capabilities, according to the vendor. It includes preconfigured data models for automation and navigation, allowing the creation of intuitive and flexible reports usable in various tools.

**Solve Specific IFRS17 Problems**: This feature facilitates the import and transformation of input data using an intuitive business language. According to the vendor, it supports the computation of Present Values and Analysis of Change steps, as well as the allocation and aggregation of data to the desired granularity of the Group of Contracts (Unit of Account). Intuitive reports for detailed analysis can be created on the fly, and it supports the computation of projections and sensitivities.

**IFRS17 Test and Benchmark Engine**: The IFRS 17 Solution Suite provides a second implementation for comparison with existing results, according to the vendor. It allows users to write numerical tests for systems and creates a robust fallback alternative to avoid unexpected outcomes.

**IFRS17 Business Insights and Steering**: Users can define and compare scenarios to the reference IFRS 17 best estimate with this feature, according to the vendor. It supports the forecasting of business under IFRS 17, facilitates performance management, business planning, and forecast of IFRS 17 financials, as well as supports liquidity management and risk budgeting.


Basic

SAP S/4HANA Cloud

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.

Professional

Complete

Vena

IFRS 17 Solution Suite

Systemorph

Budgeting, Planning, and Forecasting

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

Long-term financial planning

Financial budgeting

Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.

Forecasting

Combining actuals and budgets, rolling forecasts, driver-based models.

Scenario modeling

Financial or operational modeling of alternate future states and planning for each.

Management reporting

Budget vs. actual or forecast, P&L’s, performance over time, between products etc.

Budgeting Tools

Allot financial resources to guide your organization's spending

Automated Budgeting

Automated reporting and cash flow tracking reacts to real-time changes to more efficiently plan budgets.

Financial Planning Collaboration

Collaboration tools coordinate finance team members’ budgeting-related task completion through file sharing and chat features.

Budget Customization

Customizable templates and forms for performance visualization

Departmental Budgeting

Division of budget across multiple departments according to an individual team's spending and resources.

Import & Export Tools

Importing of financial data to accurately budget resources and exporting of reports to share across your organization.

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

Personalized dashboards

Create custom dashboards and reports without the help of IT or administrators.

Color-coded scorecards

Track and analyze performances with interactive, color-coded balanced scorecards.

KPIs

Select from a library of more than 6,000 key performance indicators, and incorporate KPIs into your planning process.

Cost and profitability analysis

Cost and profitability analysis provides data for business decision making.

Benchmarking with external data

CPI, daily exchange rates, industry KPIs. with scheduled data refreshes.

Revenue Forecasting

Key Performance Indicator setting

Ability to set key performance indicators for measuring progress towards goals.

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IFRS 17 Solution Suite

Overview

What is IFRS 17 Solution Suite?