PRESS RELEASE: Swiss Re Goes Live with Global Microgen Implementation

20th Jul 2010 09:30

LONDON--(BUSINESS WIRE)--July 20, 2010-- Microgen (LSE:MCGN) has today announced that Swiss Re, a leading reinsurer, has successfully gone live with the Microgen Accounting Hub and Microgen Aptitude. The worldwide deployment is a key element of Swiss Re's drive to consolidate and standardise its global accounting environment for asset management. Using a rules-based finance system, the Microgen Accounting Hub allows the company to collate accounting information from separate systems across the business that can then be standardised on one platform. By supporting multiple accounting standards across most currencies, the Microgen Accounting Hub delivers financial transparency at both an enterprise-wide and departmental level. Microgen Aptitude (Microgen's Business Process Management Suite) is working alongside the Microgen Accounting Hub at Swiss Re to create an agile IT environment. Its unique graphical interface and user friendly development environment enables business processes to be rapidly amended enabling Swiss Re to create a more agile IT infrastructure that is supportive of both business and market changes. "Like many financial institutions, our business is exceptionally data driven. We wanted to ensure that we have the right processes in place to ensure an accurate view of both our businesses and the financials underlying them," said Christian Behek, Head AM & RM IT Solutions, Swiss Re. "Financial transparency from general ledger balances through to the underlying transactions across the enterprise is now a must have for financial service organisations. Microgen has invested to ensure we are able to provide this transparency to companies like Swiss Re to help them better manage their business," said Elizabeth Sipiere, managing director EMEA and Asia Pac, Microgen. About Microgen Founded in 1974 and listed on the LSE (MCGN) since 1983, Microgen is an established leader in the delivery of software, solutions and consultancy services. The Group implements bespoke applications and product software for the world's largest financial institutions, multi-national corporations and public sector organisations. The Group's portfolio of proven products and solutions, many of which are based on its proprietary Microgen Aptitude technology, enables the intelligent application of technology in a range of sectors including financial services, energy, asset & wealth management, commercial, transport & logistics and the public sectors. The Group has offices in Fleet and London in the UK, and international offices in the United States, South Africa, Poland, and Guernsey. For more information, please visit www.microgen.com Copyright (c) Microgen Aptitude Limited 2010 Microgen (R) Microgen plc Microgen Aptitude (R) Microgen Aptitude Limited Microgen Aptitude - Patent Pending (Serial No: 1686466) & U.S. Patents Pending CONTACT: North America: Version 2.0 Communications Meghan Gardner, +1 617 426 2222 [email protected] or Europe and the Rest of the World Speed Sophie Hodgson, +4420 7842 3200 [email protected] SOURCE: Microgen Copyright Business Wire 2010 Order free Annual Report for Microgen plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0005869531 or call +44 (0)208 391 6028 (END) Dow Jones Newswires July 20, 2010 04:30 ET (08:30 GMT)