RL - Insurance

axway.com Copyright © Axway 2020. All Rights Reserved. | axway_SS_auxia_en_110320 Learn how Accounting Integration Suite can reduce the cost and complexity of compliance Strengthening compliance By building a future-ready accounting function powered by automation from Axway, AUXIA ensures that its key financial processes are fast, efficient, and transparent. "We are now using Accounting Integration Suite to set up and apply updates to policy records automatically," explains Meyer. "If the Axway solution detects an exception, it automatically routes the policy to another system for manual processing by one of our employees. Crucially, every activity in Accounting Integration Suite creates a full audit trail, which helps us to demonstrate our compliance to our regulators." Lifting cost-efficiency Because the new solution eliminates the need for technical expertise when designing new business rules, AUXIA is confident that it is on track for a full return on its investment in Accounting Integration Suite. "In the past we often had to purchase expensive consulting resources to help us to maintain our accounting data interfaces, but since we've deployed Accounting Integration Suite that's no longer an issue," says Meyer. "Without a doubt, we've cut our maintenance spend significantly. We've also reduced the opportunity cost of forging new business relationships, since it's now far faster and easier to securely and transparently connect companies to our accounting platform." Uncovering valuable insights AUXIA can now deliver customized analytics dashboards to each of its business partners, showing metrics tailored to their individual business models. Today, the company's partners are actively leveraging this accounting data to help monitor and manage their businesses. Meyer adds: "With the flexibility of Accounting Integration Suite, we are enabling our partners to increase their business volumes and, in turn, take on different types of partners and business models. The new approach is definitely helping us to maximize the performance of our white-label strategy." Meyer concludes: "Before, our agility as an organization was constrained by the need to involve IT when we needed to make changes to our processes. With Accounting Integration Suite, we've liberated our people to build and maintain business rules themselves — helping us to maintain a strong compliance posture, move faster on new opportunities, and grow the business." With Accounting Integration Suite, we've liberated our people to build and maintain business rules themselves — helping us to maintain a strong compliance posture, move faster on new opportunities, and grow the business.

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