Software AG Case Studies Fast regulatory compliance and millions in cost savings achieved using ARIS

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	Fast regulatory compliance and millions in cost savings achieved using ARIS Software AG

Fast regulatory compliance and millions in cost savings achieved using ARIS

Software AG

Technology Category	Application Infrastructure & Middleware - Data Exchange & Integration Analytics & Modeling - Process Analytics
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Regulatory Compliance Monitoring Process Control & Optimization
Services	System Integration Software Design & Engineering Services
Challenge	W&W Group, a financial services provider, was facing challenges with its Internal Control System (ICS). The existing ICS was not able to support the company's high standards for risk management and was making it difficult for them to comply with increasingly stringent regulatory requirements. The lack of good-quality documentation and a process-related overview of risks increased the chances of shortcomings in their process controls and risk assessments. The company needed to standardize their alert and escalation management processes and provide status reports on the performance of the ICS itself to meet new German regulatory requirements. Read More
About Customer	The W&W Group is a Stuttgart-headquartered company that was formed in 1999 from the merger of long-established firms Wüstenrot and Württembergische. The company operates in the financial services sector, providing a one-stop source for all their customers’ financial service needs. W&W is known as 'the financial specialist' for building wealth, home ownership, and providing comprehensive financial and risk protection. The company has over 6 million customers and operates with the help of 6,000 field service partners. W&W's business model is built on the principles of consistent and comprehensive risk management. Read More
Solution	W&W Group decided to redesign its ICS based on the ARIS Platform, using Software AG's solution for Governance, Risk & Compliance (GRC) Management as the foundation. The new ICS incorporated innovative requirements for automated, workflow-based risk management, enabling the company to link people across the organization with relevant company-wide data for activities, controls, and risk management. The ARIS solution for GRC was implemented quickly and accurately, providing comprehensive coverage over risk management tasks and controls. The solution also automated many previously manual ICS tasks, such as document handling and agreements on controls, saving the company around €2.5 million annually. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - Data Exchange & Integration

Analytics & Modeling - Process Analytics

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Regulatory Compliance Monitoring

Process Control & Optimization

Services

System Integration

Software Design & Engineering Services

Challenge

W&W Group, a financial services provider, was facing challenges with its Internal Control System (ICS). The existing ICS was not able to support the company's high standards for risk management and was making it difficult for them to comply with increasingly stringent regulatory requirements. The lack of good-quality documentation and a process-related overview of risks increased the chances of shortcomings in their process controls and risk assessments. The company needed to standardize their alert and escalation management processes and provide status reports on the performance of the ICS itself to meet new German regulatory requirements.

About Customer

The W&W Group is a Stuttgart-headquartered company that was formed in 1999 from the merger of long-established firms Wüstenrot and Württembergische. The company operates in the financial services sector, providing a one-stop source for all their customers’ financial service needs. W&W is known as 'the financial specialist' for building wealth, home ownership, and providing comprehensive financial and risk protection. The company has over 6 million customers and operates with the help of 6,000 field service partners. W&W's business model is built on the principles of consistent and comprehensive risk management.

Solution

W&W Group decided to redesign its ICS based on the ARIS Platform, using Software AG's solution for Governance, Risk & Compliance (GRC) Management as the foundation. The new ICS incorporated innovative requirements for automated, workflow-based risk management, enabling the company to link people across the organization with relevant company-wide data for activities, controls, and risk management. The ARIS solution for GRC was implemented quickly and accurately, providing comprehensive coverage over risk management tasks and controls. The solution also automated many previously manual ICS tasks, such as document handling and agreements on controls, saving the company around €2.5 million annually.

Impact #1	The ARIS solution for GRC was implemented quickly and accurately, providing comprehensive coverage over risk management tasks and controls.
Impact #2	The solution automated many previously manual ICS tasks, such as document handling and agreements on controls.
Impact #3	The results of the new ICS workflow using ARIS Risk & Compliance Manager were immediately available for audit purposes.

Impact #1

The ARIS solution for GRC was implemented quickly and accurately, providing comprehensive coverage over risk management tasks and controls.

Impact #2

The solution automated many previously manual ICS tasks, such as document handling and agreements on controls.

Impact #3

The results of the new ICS workflow using ARIS Risk & Compliance Manager were immediately available for audit purposes.

Benefit #1	The company saved around €2.5 million annually by automating many previously manual ICS tasks.
Benefit #2	The detailed analysis shows that ROI for licenses, maintenance, and project costs combined will be 153 percent after the three-year project is completed.

Benefit #1

The company saved around €2.5 million annually by automating many previously manual ICS tasks.

Benefit #2

The detailed analysis shows that ROI for licenses, maintenance, and project costs combined will be 153 percent after the three-year project is completed.

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Overview

Fast regulatory compliance and millions in cost savings achieved using ARIS

Operational Impact

Quantitative Benefit