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Changing the way information is formatted and exchanged, tracked and reported creates efficiencies, and also improves transparency—it enables you to identify improvements in behaviour as well as systems.
In helping you to adopt electronic accounting, our engaging, partnership style leads to implementations that deliver far more than is often obvious at the project outset.
By introducing new methods for data exchange we enable you to adopt industry-agreed protocols and rules (such as Ruschlikon), introducing processes that underlie insurance transactions but which are practical only when handled electronically.
Our software solutions offer functionality to not only support those processes, but include features to enable you to more easily manage, escalate and resolve any issue. In handling queries, for example, you can more easily escalate an issue within your organisation, and build an audit trail of information, actions and timing. All of that is done within the system, reducing complexity and inaccuracy, and increasing certainty for all.
With more robust methods for capturing and managing communications between parties any issues that arise can be challenged using real evidence and analysis. Those issues are not confined to snagging individual transactions, but extend to failures in quality or timing that, when resolved can lead to big opportunities for beneficial change.
For example, by implementing electronic data exchange it is possible to increase the speed of transaction processing, and in doing so identify where delays might enter the system. Typical delays might be caused by workload—which is easily highlighted so action can be taken to resolve it. Or more worrying, in one case we’ve seen a delay was caused more by culture—underwriting teams holding back written premium to a subsequent month to meet corporate targets. Such behaviours cannot be hidden in a data driven process and can quickly be corrected.
When we begin a project we encourage that you share how your teams work to enable us to determine where our process and functionality will align and add value. It’s important that both parties in the process mutually agree on requirements and protocols, and on how success will be measured. We will propose before and after process mapping to ensure there are no misunderstandings and we will also suggest data cleansing to help deliver early benefit.
To ensure that real change and benefits are realised takes collaboration and support from all parties in the organisation whose ways of working are impacted by the change. It’s vital for everyone to recognise that using data supports a more disciplined and collaborative process, one that glaringly highlights any shortcomings.
We encourage collaboration and openness, and we support you along the way. Where our engagement is closest the change has been meaningful, at times radical, and ultimately rewarding.
If you would like a no obligation discussion on enabledAccounting or you would benefit from occasional updates and information regarding WCL and our products please include your email address below.
If you would like a no obligation discussion on enabledAccounting or you would benefit from occasional updates and information regarding WCL and our products please include your email address below.
If you would like a no obligation discussion on enabledAccounting or you would benefit from occasional updates and information regarding WCL and our products please include your email address below.
