Our consultation with DNB
DNB ASA is Norway’s largest financial services group and one of the largest in the Nordic region in terms of market capitalisation. The Group offers a full range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers.
A major operator in a number of industries, DNB is one of the world’s leading shipping banks and has a strong position in the energy sector and the fisheries & seafood industry.
Based in Oslo, DNB are required by the Norwegian Financial Authority – Finanstilsynet – to adhere to the European Banking Authority (EBA) framework for financial institutions CRDIV (Capital Requirements Directive).
Groupflow EPM were approached, in 2018, to assist the client with implementing a unified approach to statutory and regulatory financial reporting based on our senior content knowledge of FINREP and SAP Financial Consolidation software.
A major operator in a number of industries, DNB is one of the world’s leading shipping banks and has a strong position in the energy sector and the fisheries & seafood industry.
Based in Oslo, DNB are required by the Norwegian Financial Authority – Finanstilsynet – to adhere to the European Banking Authority (EBA) framework for financial institutions CRDIV (Capital Requirements Directive).
Groupflow EPM were approached, in 2018, to assist the client with implementing a unified approach to statutory and regulatory financial reporting based on our senior content knowledge of FINREP and SAP Financial Consolidation software.
Development of a FINREP reporting Data Model in SAP Financial Consolidation Software to:
Rollout of the SAP Financial Consolidation software solution
Knowledge acquisition and User Training
Groupflow EPM holds the unique mix of excellent people and communications skills together with an always updated knowledge of the SAP EPM portfolio and changes in regulations. Its consultants are able to work under pressure, always analyzing and finding solutions, as part of team or individually
Continuous changes in regulations increased the need for a dynamic partner with the ability to decipher how new regulations would hit our enterprise, and how it could be incorporated and solved in our systems.
We would love to work with Groupflow EPM in the future, and would absolutely recommend them to others customers. Thank you!
Espen Unstad Sandvig
SAP Manager, DNB ASA
One of the biggest challenges we met while being on the SAP Platform, was how to incorporate the new FINREP 2020 regulation changes while building a model to be as simple and intuitive as possible.
Expert competence in SAP EPM is really hard to find and would take several years to develop inhouse without specialist knowledge. Cooperating with Groupflow EPM has given us access to high competence who are excellent at training and developing resources inhouse. In addition, our existing in-house experts have had a valuable discussion partner, and an extra set of hands in periods with increased workload.
Groupflow has the ability simplify complex issues, but at the same time streamlining and finding how data can be linked across categories. This was especially important when developing our new FINREP model where data in IFRS and FINREP had to be linked to show a more detailed picture of the of IFRS data with regards to down drilling of, for example sector, industry and geographical segments.
Communication, handover and documentation has always been very good. This really came to show through the challenging 2020/2021 Covid-19 situation, being in the middle of the development of FINREP 2020 and the rollout of EPM Addin Training. Without his ability to turn the ship around and find solutions, important work would have come to a stop.
In addition to excellent technical and content knowledge, Groupflow EPM has its own way of implementing knowledge transfer to increase our competence and fit all knowledge levels within our employees.
Another central project has been planning and rolling out of training in the SAP EPM Addin for Office tool to replace SAP Excel Link. The drivers for this were technical and we found the tool had been overly complicated and vulnerable to changes in data or its dependency to key personnel.
Through teaching us EPM Addin, we have been able to clean out our shelves and streamline our reporting portfolio. Standard reports without the need for dynamic analysis have been built as SAP FC reports instead.
Reach out to us to discuss how we can help you get the most out of your EPM portfolio, including no obligation ‘EPM Technical & Functional Assessments’
