Accurate NXG is built on the four core competencies of reconciliation, exception management, workflow and business intelligence. SociÃ©tÃ© GÃ©nÃ©rale will in the first instance use Accurate NXG for the reconciliation of its nostro and internal accounts at OPI, centralising back office processes for all of its Western European sites, which include Paris, London, Amsterdam, Brussels, Frankfurt, Madrid, Milan and Zurich. Accurate NXG delivers comprehensive transaction control and ensures validity and consistency of data across multiple business lines. The solution will form part of SociÃ©tÃ© GÃ©nÃ©raleâs end-to-end risk control framework.
Accurate NXGâs workflow component will enhance operational control, enabling SociÃ©tÃ© GÃ©nÃ©rale to minimise risk. Using workflow, SociÃ©tÃ© GÃ©nÃ©rale will be able to automatically assess errors early in the value chain, pre-empting downstream errors and feeding information back to the customer services teams, enabling faster customer response. SociÃ©tÃ© GÃ©nÃ©rale will implement more than 20 different automated workflows across its different regions and business units.
With the improved management reporting available via Accurate NXGâs business intelligence Dashboard technology, senior management will be constantly alerted to critical areas of potential loss. Accurateâs Dashboard can intelligently display a wide variety of business metrics, which can be instantly accessed online throughout the organisation.
Phase one of the implementation, which included OPI and SGCIB, was completed in October 2004. The second phase, which will see Accurate NXGâs reconciliation, workflow and business intelligence components being rolled out at CrÃ©dit du Nord, is currently under way and will be completed in early 2005. Future plans include the extension of the Accurate NXG deployment to SociÃ©tÃ© GÃ©nÃ©raleâs other divisions and to other geographical areas, notably Asia Pacific.
"We selected Accurate after a rigorous assessment, which included a detailed benchmark study in which Accurate NXG clearly demonstrated its ability to maximise efficiency and improve operational control," said Emmanuel de Bouard, managing director, international operations, payment services at OPI, SociÃ©tÃ© GÃ©nÃ©rale.
"Accurate NXG delivers scalability and flexibility to such an extent that for the first time, we can plan to deploy a single, enterprise-wide solution across our global operations. Unlike the common scenario where an organisation has to adapt to a productâs capabilities, Accurate NXG can be tailored to our individual country or organisational needs. Accurate NXG is an obvious strategic choice for our complex and challenging business."
Accurate NXG replaces Corona and Hermes reconciliation and investigation systems respectively from Smartstream Technologies. Accurate NXG will provide an end-to-end transaction processing solution for all of SociÃ©tÃ© GÃ©nÃ©raleâs reconciliation and exception management needs.
"SociÃ©tÃ© GÃ©nÃ©rale is an extremely well-respected financial institution and we are proud to add them to our growing list of tier one customers in the French financial services sector," said Dirk Van de Velde, executive vice president, Continental Europe, at Accurate Software. "SociÃ©tÃ© GÃ©nÃ©rale has recognised that Accurate delivers a winning combination of a flexible, proven solution with a partnership-based relationship, ensuring that SociÃ©tÃ© GÃ©nÃ©rale will remain an Accurate client for many years to come, not only in Paris, but worldwide."