August 13, 2022

New financial accounting center can handle 40 million events per day

Global software integration company Axway has launched its new Axway Financial Accounting Hub (AFAH) service, capable of handling 40 million events per day in real time for a retail client.

The company claims that AFAH can also cut the cost and onboarding time of ERP Finance migration projects in half.

According to Axway, as financial services continue to evolve, companies expect them to take on more roles with smaller budgets and teams.

The company claims to be a historical partner of financial departments and has designed AFAH as a meeting point between finance and business, relying in particular on its expertise in APIs.

The future-ready business platform enables finance departments to deliver relevant, quality data to every business unit to improve management and strategic decision-making.

“Axway Financial Accounting Hub is one of the most advanced and scalable offerings on the market today,” said Lionel Linossier, Axway’s Chief Digital Finance Officer.

Through data transformation, data quality and data exposure, Axway says its new product helps financial services achieve:

Operational Excellence

The company claims that AFAH optimizes operational efficiency by automating, simplifying and streamlining processes. It also leverages APIs for real-time processing, reducing operating costs, and speeding up processes and the quality of data delivered.

“Axway Financial Accounting Hub enables us to support businesses on a daily basis,” explains Gharib Chahr, project finance and accounting control manager at ODDO BHF.

“The launch of a new product is very fast since it only takes two to four weeks to make the necessary accounting adjustments.”

Increased agility

According to Axway, the open and highly flexible platform offers a composable financial information system designed to meet regulatory, business and technology requirements. In addition, a self-service portal allows the implementation of DevOps methodologies for greater responsiveness.

“With Financial Accounting Hub, we have freed our people to build and maintain business rules themselves, which helps us maintain a strong compliance posture, move faster on new opportunities, and grow the activity,” says Auxia – Malakoff Humanis Group administrative and financial director Nathalie Meyer.

Unparalleled data reliability

AFAH improves the quality, readability and use of data in financial services by leveraging comprehensive and actionable audit trails, rejection management and reconciliation tools.

“Thanks to the ecosystem of partners, the support of our experts and the R&D efforts that will accompany this new offer, Axway demonstrates its commitment to helping its customers produce the best financial, operational and commercial data,” says Linossier.

Axway says its API-driven B2B and MFT integration software, honed over 20 years, complements Axway Amplify, an open API management platform that makes it easy to discover and reuse APIs across multiple teams, vendors, and environments cloud.

The company claims to have helped more than 11,000 businesses unlock the full value of their existing digital ecosystems to create brilliant experiences, innovate new services and reach new markets.