Within a year, MEAG – which manages the assets of Munich Re and ERGO – modified and expanded its analysis and reporting platforms. It did so by enhancing its company-wide data warehouse, which is based on SAP NetWeaver Business Warehouse.
MEAG manages securities, real estate, investment funds, and other assets worth a total of around €186 billion primarily for clients of Munich Re and ERGO, as well as for private and institutional customers outside of the group. Regular evaluations and monitoring of key investment figures are vital to ensuring optimal client and customer support. Until now, MEAG’s asset managers used two parallel systems for analysis and reporting: the company-wide data warehouse STAR (Standardized Asset Management Reporting) and myriad custom-programmed applications. The latter were often based on Microsoft Excel or Access and bound to the expertise of the company’s individual user departments. “Ensuring quality in such a decentralized application landscape with redundant data retention is very tedious, and the contingency risks reach critical levels,” says Dirk Zinckeisen, head of IT asset controlling and reporting at MEAG.
At the end of 2006, the MEAG management team made the decision to consolidate its reporting landscape. Claudio-Peter Pruntz, head of IT and organizational development, summarizes the goal of this resolution as follows: MEAG needed to incrementally decouple its existing amalgam of custom solutions and standalone systems and integrate them into STAR. This led to the launch of the OptiMa project, the aim of which was to optimize MEAG’s client reporting by improving quality, streamlining processes, accelerating the reporting itself, and simplifying use. MEAG hoped to achieve all this with the standard functions of SAP NetWeaver Business Warehouse. The company brought in IT consulting specialists from IMG, the consulting services of the S&T Group, to help with the project.
The OptiMa project started in earnest in March 2007. Within 12 months, MEAG was able to integrate its Excel and Access applications into the STAR landscape. Barbara Dworsky, head of IT derivates, says the project was a success: “We were able to eliminate an extensive parallel world, achieving all our goals in the process.” Dworsky goes on to report that MEAG simplified and standardized its reports, optimized its quality assurance, and significantly reduced contingency risks. Currently, around 400 users in information, analysis, and editing all over the world use the improved, simplified system. In the future, MEAG plans to supply its STAR database with source information with greater regularity.