Increasing the Efficiency and Accuracy across the Balance Sheet Reconciliation Process
With more than 800,000 customers, Danica Pension is one of the largest pension companies in Denmark. They are a wholly owned subsidiary of the Danske Bank Group with over 800 employees across Denmark and Norway. They specialise in pensions, life insurance and health insurance and have total pension funds of DKK 500 billion and annual contributions of DKK 50 billion.
Adra has been instrumental in helping Danica Pension eliminate manual work and gain real-time visibility and control into their balance sheet reconciliations. They use Adra to reconcile the whole transaction-side of the investment which is a 3-step process; Entering the investment as a transaction, sending the transaction to their GL system, Microsoft Dynamics, then aggregating all transactions to send to the bank. Danica Pension uses Adra to reconcile each one of the steps.