Deloitte and Aptitude Software announce strategic alliance to deliver transformative accounting solutions to global insurance and banking clients
Collaboration to address complex accounting functions and challenging regulatory compliance requirements
Toronto, February 16, 2018 – Today, Deloitte Canada and Aptitude Software announced their strategic alliance in capitalizing respective expertise to tackle the accounting needs of the global banking and insurance clients. With the exponentially increasing data volume and complex IFRS requirements, the market opportunities to deliver accounting hub and IFRS accounting engines is more transformative than ever. Aptitude Software and Deloitte are collaborating to implement multi-GAAP and business events driven accounting solutions at global scale to deliver powerful insights.
“We are pleased to join forces with Aptitude Software,” said Ranjit Chima, Director, Deloitte Consulting. “We are now even better equipped with the technical capabilities to help our clients move away from manual workflows to meet pressing regulatory requirements, and serve as the strategic financial foundation to drive profitable growth in their businesses.”
Aptitude Software is a leading finance system specialist offering a wide range of high performance software to aid business leaders in achieving financial insight, control and transparency. The Aptitude Software platform can be integrated with a wide-range of data systems including Oracle, Teradata, SAP, IBM (Netezza), and Cloudera. Aptitude Software’s platform serves as a finance application designed to seamlessly integrate with existing architecture to minimize cost, time and risk of implementation, making Aptitude Software an ideal ally for accounting hub and engine solutions. Aptitude Software’s IFRS 17 solution will significantly impact the insurance landscape by enabling insurance leaders to achieve regulatory compliance with "out of box" insurance data models and accounting templates. Aptitude Software’s Accounting Hub can also help to accelerate workflows by providing clients with the capability to readily access, validate, enrich and standardize their transaction-level data.
“Over the past five years, the role of the CFO has shifted dramatically. They are under increasing pressure to substantiate regulatory reporting requirements which needs to account for high-volume, digitally-enabled businesses, and global operations,” said Tom Crawford, CEO, Aptitude Software. “This is where Deloitte’s track-record of supporting Finance transformations, combined forces with Aptitude Software’s portfolio of targeted software engines and specialized financial expertise, come in as natural collaborators to create a finance system architecture for the client that is fit for the future.”
Deloitte and Aptitude Software have a history of successful collaborations in finance transformation journey on a global scale. The organizations have partnered to address IFRS requirements for a leading European retail bank, and worked with one of Asia's largest insurers to deliver an IFRS 17 prototype. Deloitte will continue to join forces with Aptitude Software to certify functional and technical SMEs to deliver design and implementation expertise that will transform banking and insurance clients.
Deloitte provides audit & assurance, consulting, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights and service to address clients’ most complex business challenges. To learn more about how Deloitte’s approximately 264,000 professionals—9,400 of whom are based in Canada—make an impact that matters, please connect with us on LinkedIn, Twitter or Facebook.
Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
About Aptitude Software
Aptitude Software delivers specialist finance solutions that allow CFOs and their teams to integrate data from across the organization and process large data volumes and complex calculations. With a single version of financial truth and powerful finance engines, organizations can streamline accounting processes, address regulatory requirements, analyze business trends at a more granular level and more. Aptitude Software have worked with some of the largest global companies to help the CFO office create a data driven finance organization.