HAREL Insurance Investments & Financial Services Ltd

Harel Insurance Investments & Financial Services Ltd. is one of Israel´s largest insurance and finance groups providing comprehensive financial and insurance solutions, including life insurance, general insurance, health insurance, provident funds, pension funds, mutual funds, ETFs, investment portfolio management, etc. Harel has chosen the EFI suite to manage their treasury, finances, financial, transactions and cash flow.

By easily integrating into the SAP environment and to the specific insurance systems, the EFI suite handles all financial operations, such as:

  • Multiple companies with the possibility of separation and / or amalgamation of lines of activities  (life insurance, elementary, investments and others)
  • Support of about 20 interfaces into a real-time insurance system and SAP modules pertaining to all types of payments / receipts actually performed and planned future interfaces plus insurance systems such as SAP and ledger entries for the treasury events
  • Support of all types of financial transactions managed by the Group, including loans, deposits, guarantees, derivatives
  • Bank reserves management and optimizing investments
  • Managing hundreds of accounts in different banks with the option of automatic netting and offsets between "satellite accounts" and key accounts
  • Managing a range of "from the treasurer multidimensional daily / multi daily management” including all sections - areas of insurance companies, banks, currencies and more
  • Management of all cash positions and cash equivalents positions
  • Past/ future cash flow management
  • Periodic comparison of the flow budget against actual performance by essences flow (flow codes and levels)
  • Support of all  the Treasurer´s activities with the banks and brokers including - transfers, conversions, financial transactions.
  • Automatic control of all agreements with banks
  • Automatic control of all the banks´ interest rates, including loans, deposits, current accounts
  • Variety of advanced managerial reports about cash flow and bank balance management.
  • Automatic alert mechanism for expected events and cases
  • Automatic recommendations for the Treasurer and CFO