TLDR:

• France Active has chosen Clearwater Analytics to simplify its investment accounting operations and centralize its accounting book of record.
• Clearwater’s expertise in French GAAP, efficient period-end operational tasks, and automation of reconciliation and reporting tasks were key factors in the selection.

Key Elements:

France Active, a non-profit organization dedicated to facilitating access to enterprise setup through bank credit, has partnered with Clearwater Analytics to streamline its investment accounting operations. By implementing Clearwater’s SaaS platform, France Active aims to ensure compliance with local accounting standards and enhance alignment with market requirements and regulations.

The decision to choose Clearwater was influenced by the platform’s proficiency in French GAAP practices, including premium/discount amortization and impairments management. Clearwater’s ability to provide a single source of truth for accounting, risk, compliance, and regulatory reporting was also a significant factor in France Active’s choice.

Benoît Coujandassamy, Treasurer at France Active, commended Clearwater Analytics for simplifying complex, manual-driven processes with their innovative SaaS-based platform. The partnership will enable France Active to achieve operational efficiencies, improve daily reconciliation tasks, and enhance data validation and compliance review processes.

Keith Viverito, Managing Director of EMEA and APAC at Clearwater Analytics, expressed enthusiasm about collaborating with France Active to optimize their operating model, increase operational efficiencies, and enrich workflows with comprehensive investment and accounting data and analytics. The focus remains on delivering localized accounting and investment analytics to empower clients with informed decision-making capabilities.

Overall, the partnership between France Active and Clearwater Analytics signifies a step towards modernizing and enhancing the non-profit organization’s investment accounting operations to meet evolving industry standards and regulatory requirements.