Accounting

Tackle globalisation

Globalisation and simultaneous compliance with national and international standards, such as US-GAAP or IFRS, pose onerous, difficult and error-prone operational challenges to many financial institutions. Moreover, globalisation obliges international financial institutions to offer their services in multiple jurisdictions.

SimCorp Dimension’s multiple parallel accounting frameworks, without data duplication, greatly simplify these operational tasks and ease parallel reporting, using different accounting and tax standards for the same investments to different clients.

Reduced administration and operational risk

With SimCorp Dimension’s parallel accounting frameworks to accommodate multiple booking requirements, transactions need only be entered once, after which they are automatically processed according to all client-specific accounting principles. SimCorp Dimension is also highly flexible, for example in its ability to meet international accounting standards and local legal requirements simultaneously. Automation these processes can reduce operational risk and errors while helping to dramatically improve operational efficiency.

Efficient and transparent accounting

With SimCorp Dimension, the integrated handling of all instruments in a seamless processing environment provides fast and uniform accounting, including a full audit trail. End-of-day bottlenecks are eliminated and bookings can easily be traced back to the original transaction.