Prevent your company from the negative consequences of disjointed business-processes
Being one of the economic sectors insurance industry requires strategic solutions both for the improvement of the effectiveness of daily business processes and for the cost-saving of such activity. Insurance companies need flexible efficient systems for information processing as they work with a great number of clients, deal with accountable documents including the ones for governmental entities, go regularly through check-outs. Thus, shared information space is a necessity and that is where an Enterprise Resource Planning (ERP) system is likely to help one’s business start thriving. The integration of a specialized application into one’s routine workflow will greatly transform the working processes of the existing departments uniting them and creating an integrated business space.
ERP features and functions in insurance industry
As a rule insurance companies represent a complicated form of business when there is an administrative centre and numerous departments. Considering the tendency of growing interest in insurance among both juridical and physical entities it is crucial to provide clients with services of high quality – doing work quickly and efficiently. ERP solutions are destined to automate insurance contract accounting, calculation of insurance payments, preparation of insurance documentary and other necessary procedures.
For the owners of insurance companies Elinext Group offers ERP solutions with the following features:
- Client Database with customers’ contact information and the services they have used sorted.
- Purchasing Data Management that gives access to the history of deals, description of existing products and sales plans on each of them what allows control all sales processes.
- Contract Accounting Management due to which all direct insuring and reinsuring contracts are available from one database and there are no difficulties in finding the necessary one.
- Contract Follow-up Management which contains accurate information on the way signed contracts are being fulfilled and whether some of them are put on hold or not.
- Receivables and Credit Management that stores in one place the whole information concerning debtors and creditors, their contact data and the history of collaborative engagement with the company.
- Billing Management that provides accurate control of financial accounting for customers and improves the processes of working out pricing models for insurance products.
- Accounting Transaction Management which allows to improve transaction reporting by preventing one’s specialists from the processing of time-consuming paper-work and from gathering fragmented electronic documents.
- Cash Management with the integration of which one gets full control over its cash flow having at one’s disposal accurately processed and analyzed data on the transactions made.
- Finance Management which simplifies financial planning and improves the level of finance data accuracy thus strengthening budgeting capabilities of the insurance company.
- Human Resource Management that provides hr-managers with a comprehensive set of tools which facilitate efficient personnel control covering attendance, bonuses and other necessary HR functions.
Benefits ERP can bring to insurance industry
Highly competitive insurance business requires from its players proactive reaction to customers’ demands and quick output of new quality insurance services. Specialized Enterprise Resource Planning solutions undoubtedly allow to support a complete cycle of insurance production providing owners of insurance companies with an opportunity to:
- Cut down the level of reserve stocks and increase the efficiency of working processes
- Optimize business-processes in the company by decreasing finance and time expenses
- Improve the efficiency of pricing processes and budgeting
- Regulate the production processes according to customer demand changes
- Control the quality of one’s insurance services in real time
- Make an available database with all the necessary documents sorted there.
Custom ERP for insurance industry from Elinext Group
The conditions where modern insurance companies exist are constantly changing. That is why this business requires from top-managers of such organizations flexibility and decisiveness. At Elinext Group we are sure that an enterprise planning application is likely to strengthen one’s positions on business arena and basing on our experience we offer a few variants how to integrate painlessly an ERP system into a company of any size and level of development.
To remain on the look-out for customers’ demands and to be able to thrive among competitors, insurance companies should get the working process going very well. As their structure is rather complicated and there are lots of departments engaged a necessity to integrate such business with an ERP system appears. The professional team of Elinext Group is ready to provide insurance companies with several services:
Custom ERP Development. We provide our clients with the development of an ERP system from scratch when a group of our professionals examine the drawbacks of the existing management system, analyze the flow of business processes and according to the data received work out the necessary enterprise planning software that will bring the organization on another level of its development.
ERP Customization. In case you already know what your company needs we are ready to follow your requirements and customize ERP in accordance to the order you left.
ERP Software Testing. Our specialists can offer several solutions for increasing your business efficiency and there are no problems in software testing of each of them to show the advantages of the applications. Looking at them in process you are sure to make an accurate decision.
ERP Implementation. Once you have decided what features the ERP system for your company should have, our experts will help carry out the implementation of the software so that your employees will not feel any inconvenience at work. You will be provided timely with a comprehensive consultation on how to work in new conditions.
ERP Upgrade and Maintenance. As we have mentioned previously, the sphere of insurance is alternating all the time. Thus, the implemented ERP system will evidently require upgrade and maintenance with time being. As soon as such a necessity appears, you can call us and we will be glad to provide you with the support you need whether it concerns a complete replacement of the system or just little modernization.
Why ERP software from Elinext Group
Our company exists on the software system market for 15 years. During this period we have accumulated solid experience in the development, customization and implementation of various software applications using the best existing practices and creating our own solutions which have helped our clients improve greatly their businesses. And we are not complacent.
Why companies choose us:
- We are not afraid of challenges and we are able to work with any company no matter whether its problem is familiar to us or not. We offer only unique solutions meeting the specific demands of the business
- We are against hasty decisions preferring a comprehensive analysis of the working processes of the company we are dealing with
- We offer affordable prices
- All the specialists of our working groups are certified and develop regularly their professional skills on the best training courses.
If you want to be known for the brand of your insurance company and get real profit do not lose your time and call us to increase the efficiency of your business right now.
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How do I know that I need an ERP application be integrated into my business?
An ERP system is necessary to build an integrated information space which will optimize the work of numerous departments. Certainly, one can ignore the implementation of specific software in one's business. However, in this case nothing can protect the insurance company from the reduction of customer database and the decrease in profits. Companies without ERP systems are hardly capable to compete with those which enhanced their service quality due to ERP applications.
Do you have a standard ERP model for insurance companies?
Yes, we have a classic offer for insurance companies. Still, we recommend you to work with our analysts so that we provide you with a solution your company really requires. This is because all companies, though developing in one sphere on the same level, have different problems to act similarly.
What level of computer-literacy does ERP software require from employees?
ERP systems are not as difficult as they might be. The applications are available even for entry-level users. Anyway the implementation of ERP software is accompanied by a comprehensive consultation from an Elinext expert who will provide your team with all the necessary instructions.
How can I get financial information?
ERP systems for insurance companies obviously have the functions covering finance data. Financial information through Elinext ERP apps can be accessed not only through a web browser but through a mobile device as well.
How often do we need to upgrade the ERP system we have installed?
The ERP solutions we provide our clients with undergo upgrades automatically if it concerns their functioning in the build they were installed. What concerns a complete or partial replacement of the system, it depends on the market requirements and the inner challenges you might face.
How much does the ERP software from Elinext cost?
The price depends at least on two factors: the number of functions you are going to use and how many employees are to be connected to the system. To get accurate pricing, please, contact us on (+375-17) 237-53-65 (GMT +3).
Will you save the current data in case of ERP integration into the workflow?
Yes, the current data can be converted into the ERP system.
Do you have solutions for small insurance companies?
Yes, we do. We offer ERP applications for companies of all sizes taking into consideration the conditions they are developing in.
Is the implementation of ERP software time-consuming?
It depends on the build you have chosen - the more complicated the system is, the more time it requires for the installation. The starting point is a few hours. For more accurate information contact us on (+375-17) 237-53-65 (GMT +3).
Is it possible to integrate ERP solutions with the corporate systems of analysis?
Yes, it is possible. There are no problems in uniting our ERP applications with specific assessment algorithms of your company.