Consulting, technology services and outsourcing company Accenture has signed multi-year agreements with insurance and wealth management services provider The Hartford to assist in the transformation of The Hartford’s finance department.
Under the agreement, Accenture will provide The Hartford with management and technology consulting as well as finance and accounting (F&A) business process outsourcing (BPO) services.
In addition, Accenture will help The Hartford in simplifying and standardising processes and tools across the finance department; identifying appropriate investments in technologies to increase speed to market; improving process consistency and reduce cost; and in streamlining the finance organisation to empower leaders, remove redundant oversight; and increase the speed of decision-making.
Accenture Finance and Risk Services is designed to add significant efficiencies and performance improvements to the finance and risk management functions of financial services companies.
Accenture North America Finance and Risk Services Financial Services managing director Gary Fink said the Hartford and Accenture have been working together since 1995 on a wide range of business and technology initiatives, including systems integration and consulting.
"We are pleased to have been selected by The Hartford for their enterprise finance transformation project. We look forward to working with The Hartford and helping them to create the foundation for high-performance finance," said Fink.
The Hartford chief financial officer Chris Swift said The Hartford selected Accenture based on Hartford’s strategic relationship as well as their strong track record of delivering on financial management process changes of this scale.
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"The goal of our work is to improve process consistency and reduce expenses, ultimately resulting in a stronger, more process-oriented finance function – one with new capabilities, a common information platform and better, more efficient ways of working," said Swift.
