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Transforming the finance function into a strategic growth enabler
The first Swiss bank to adopt SAP’s cloud-first model
SAP Quality Award-winning RISE project
Introduction A bold move to redefine Finance
The client is a globally active investment firm headquartered in Zurich, Switzerland. Known for its entrepreneurial independence and commitment to long-term value creation, the client has increasingly focused on digital transformation to support its strategic ambitions.
As part of this agenda, the firm identified its Finance function as a critical enabler of growth. The goal was to move beyond traditional accounting and reporting and establish Finance as a strategic business partner, capable of delivering real-time insights, supporting global expansion, and enabling innovation. To achieve this, the client became the first Swiss bank to adopt SAP’s cloud-first model through a RISE with SAP agreement. This decision marked a turning point, setting the direction for a broader transformation that would require not only new technology, but also a fundamental rethinking of how Finance operated across the organisation.
Situation Challenging the limits of legacy systems
Prior to the transformation, the client’s Finance landscape was fragmented across multiple systems. The bank operated SAP ECC 6.0 alongside various local ERPs and a standalone financial instruments subledger. These systems were distributed across more than 20 legal entities, creating inefficiencies, limiting data granularity, and complicating compliance with evolving regulatory requirements.
At the same time, the firm’s leadership had a clear strategic vision. They wanted to create a Finance function that could support both organic and inorganic growth, enable faster decision-making, and reduce operational risk. This required a globally scalable platform that could harmonise processes, automate reporting, and provide real-time access to financial data. The decision to move to the cloud was driven by a desire to avoid costly on-premise upgrades, reduce technical debt, and unlock the potential of automation, AI, and advanced analytics.
But the challenge was not only technical. It was also organisational. Success would require deep stakeholder alignment, robust governance, and a shared commitment to change across Finance, IT, and the wider business.
Solution Building a scalable platform with SAP S/4HANA
To realise its Finance vision, the client partnered with PwC Switzerland to design and implement a modern, cloud-based platform leveraging SAP S/4HANA Cloud Private Edition. The transformation journey began with a collaborative pre-study that evaluated the existing environment, identified pain points, and defined the target architecture. This initial phase was crucial for aligning stakeholders and securing the strategic and financial support necessary to accelerate the project.
The decision to adopt SAP’s RISE model was made early and decisively, establishing a cloud-first foundation for a scalable, secure, and innovation-ready platform. PwC Switzerland applied the SAP Activate methodology to steer the implementation, using fit-to-standard workshops to ensure alignment between business requirements and SAP best practices, while addressing the unique demands of the banking sector.
A key milestone was the successful go-live of SAP Group Reporting in January 2025, replacing the legacy consolidation system and enabling real-time, group-wide financial insights. This was followed by the phased rollout of S/4HANA across all legal entities and the planned deployment of SAP TRM for financial instruments accounting. Integration with the Avaloq Core Banking System also formed a critical part of the roadmap.
Throughout the programme, PwC Switzerland embedded change management and quality assurance as foundational pillars. Users were supported with targeted enablement activities such as town halls, offsite workshops, and hands-on training sessions. An early prototype system was made available to familiarise teams with the new environment, while tools like Jira and Confluence facilitated testing management, documentation, and feedback cycles.
Testing was thorough and methodically structured, encompassing functional, integration, user acceptance, and parallel run phases. Each stage was governed by clear acceptance criteria and formal sign-offs. Risks were proactively monitored and mitigated through weekly updates and close collaboration between PwC and the client's teams, ensuring the programme stayed on course and aligned with strategic objectives.
By combining a well-defined cloud strategy, disciplined execution, and strong partnership, the client and PwC Switzerland delivered a Finance transformation designed to scale with the firm’s future ambitions.
“We set out to build a Finance platform that could support the firm’s ambitions—not just today, but for the future. PwC Switzerland helped us turn that vision into a scalable reality. Their structured approach, deep expertise, and ability to align business and IT from day one were key to delivering results at speed and with confidence.”
Head of Finance & Tax,Finance & RiskResult Enabling smarter decisions and future expansion
The client’s transformation is already delivering measurable results. The successful go-live of SAP Group Reporting in just nine months is a clear testament to the strength of the chosen approach. Thanks to disciplined budgeting and efficient execution, the project came in seven percent under budget, resulting in significant cost savings.
At the heart of this success is a unified platform that provides a consistent data model and a reliable foundation for both Controlling and broader financial operations. This enables real-time consolidation, faster period-end closing, and more granular, insightful reporting. By centralising accounting processes, the platform has helped reduce operational risk, while its modern user interface supports talent attraction and retention. But the benefits extend beyond operations. With a SaaS-based subscription model, the client now enjoys a lower total cost of ownership, along with continuous access to the latest SAP innovations, ensuring the platform evolves in step with the business.
Strategically, the new platform aligns with the client’s long-term ambitions. It supports global expansion, M&A activity, and IPO readiness by enabling a more flexible legal entity structure and multi-GAAP reporting capabilities. It also reduces reliance on external service providers and strengthens the bank’s ability to respond to shifting regulatory requirements and market volatility.
This impact has not gone unnoticed. The project was awarded the SAP Quality Award in the ‘Rapid Time to Value’ category, recognising its speed, innovation, and tangible business outcomes. Building on this success and with PwC Switzerland’s ongoing guidance, the client is well-positioned to complete the remaining implementation steps and fully realise its vision of elevating Finance into a true strategic partner.
“From the outset, our focus was on clarity, collaboration, and execution. The joint pre-study gave us a strong foundation, and the early cloud decision allowed us to move quickly. Working closely with our client’s teams, we delivered a transformation that’s not only technically sound but strategically aligned with the bank’s long-term goals.”
Morten Rehme,Project Lead, PwC Switzerland{{filterContent.facetedTitle}}
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