Financial professionals face significant challenges as they struggle to meet new regulatory requirements in addition to the growing demand for managerial reporting. There’s additional pressure to close the books in record time, while providing unprecedented clarity and accuracy in financial reports. Globalization trends introduce new currencies into the mix and CEOs need more and more performance data for strategic decision-making. Fast and accurate financial reporting has never been more important than it is today.
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Sapiens FinancialPro (formerly called StoneRiver PRO) is accounting software designed for insurers to meet their unique requirements for cash, statutory and GAAP reporting, well as unique allocation and consolidation needs. It handles multi-basis accounting and inter-company transactions, and facilitates the speed and accuracy of financial reporting. Sapiens insurance experts assist carriers in collecting and reporting information they need to expedite all regulatory processes.
FinancialPro General Ledger (GL) enables carriers to manage, track and process transactions with instant access to accurate financial information. It manages financial data via a user-definable chart of accounts and multiple sets of books, along with unlimited companies and currencies. Rules-driven allocations and inter-company processing automatically create entries to complete the enterprise’s financial picture. FinancialPro’s GL provides the data for internal management reports, as well as SEC and other regulatory filings.
FinancialPro’s Accounts Payable (AP) helps improve payables management and establish a broad range of business rules governing cash management and vendor management. It provides a high level of flexibility to manage and track vendors, invoices and cash disbursements. Duplicate invoice checking, GL account distribution rules and a wide array of other business rules significantly increase productivity, as well as control.
FinancialPro solutions natively support Microsoft SQL Server and may be installed at the insurer’s office, or deployed at a Sapiens’ hosted environment. Our open, non-proprietary architecture enables quick and easy integration with other applications requiring minimal IT support resources.