Written by Geoff Weiss, Senior Principal, Industry Value Engineering, Insurance Industry at SAP
We all know that the world around us is constantly changing, and it’s no different for insurance companies – or their finance organizations. What was once considered a static role tasked with crunching numbers, analyzing costs, maintaining budgets, and improving financial management processes has evolved into a strategic partnership that’s also expected to drive more value company-wide.
You can’t afford to stand still in a changing world
For many insurance companies, the role of the finance organization as a strategic partner is unchartered territory. To adapt to this new role, finance organizations need to reach beyond core functions of policy administration, underwriting, and claims to drive the financial insight required to maintain a competitive edge. For finance organizations that are already stretched thin with limited budgets and resources – as well as outdated software systems – transformation can seem like an especially daunting task.
Any job can be easy – when you have the right tools
Whatever the task at hand – changing a tire, hanging a picture, or baking a pie – having the right tools and knowledge can mean the difference between success and failure. Similarly, the right software can provide financial organizations with the best practices and tools you need to streamline and simplify processes, so you can transform operations and create greater value for your company.
The key is to find software that can help you:
- Accelerate business transformation by providing one, integrated view of all financial data to ensure enterprise-wide consistency and accurate, real-time insights
- Create immediate efficiencies by taking a modular approach to improving financial operations
- Simplify your financial system with an architecture that removes replications and aggregates
- Turn insight into action by automating and streamlining processes for gathering financial information
SAP Simple Finance provides a simple solution to a complex task
The SAP Simple Finance solution streamlines and simplifies end-to-end finance processes and delivers instant insights via a simple, personalized user experience. It has been designed to drive smarter decisions and create greater strategic value by enabling built-in consistency, real-time analytic insights, and automated processes.
Get started on the road to insurance finance transformation
Learn more about the future of the insurance finance organization and how SAP Simple Finance can help you overcome business complexities and accelerate greater business transformation. Join your peers and industry experts on Thursday, June 25, 2015, at 1:00 p.m. ET for a lively Webinar “Insurance Companies: Transforming their Finance Organizations.” Register and learn more.