Irrespective of the size of your organization, fast and accurate financial reporting has never been as important as it is today. Insurers need accounting software that is dedicated to the industry and takes all the complexities into consideration, while ensuring that the technology is dependable and the solution is cost-effective.
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Sapiens Financial GO (formerly called StoneRiver PTE) gives small- and mid-sized insurers a competitive edge in today’s marketplace, because it’s developed and supported by highly experienced insurance experts. The solution is designed to meet insurers’ specific requirements for cash, statutory and GAAP reporting, as well as unique allocation and consolidation needs. Sapiens Financial GO manages and presents data to help insurance managers make informed decisions.
The solution interfaces with many leading policy, claims and investment systems. Its powerful interfacing tools can import transactions from outside systems, regardless of file layout. Many features facilitate integration and processing efficiency. Financial GO accommodates an unlimited number of companies – both insurance and non-insurance – for concurrent processing, with each company’s ledger carrying an independent set of tables to permit maximum flexibility and unlimited consolidation options.
The unique efficiency built into the Sapiens Financial GO account structure enables each segment of the code to track user-specific breakouts, honing reporting and analysis capabilities. Routine tasks – such as interfaces, allocations and posting – can be queued to run unattended at any time.
Sapiens Financial GO’s central General Ledger (GL) system interfaces with leading policy administration, claims, payroll and investment systems to streamline data import and reconciliation.
The system simplifies the maintenance of multiple accounting bases through a periodic adjustment process. Ledgers may be maintained at any level of detail to match the insurer’s reporting needs.
Sapiens Financial GO’s Accounts Payable (AP) system provides a central location for all payables activities – vendor payments, claim checks, premium refunds, agent commissions and more. Its unified environment boosts both productivity and cash management control. The AP system can be integrated with most premium/claims systems to facilitate the speed and accuracy of data transfer.