SURA receives payments on large numbers of policies each day. The payments are made into our bank account in lump sums and need to be allocated to policies in our underwriting systems. To do the allocation, our finance staff have to find PDF or Excel remittances emailed to us each day. The format of these remittances varies from agency to agency so it is tough to automate. Two managed functions now handle the process. The first function extracts the allocation data from the PDF or Excel remittances. The second function matches the allocation data with the policy in our underwriting system and pushes the matched transaction to our underwriting system.
At optiBPO, our monthly billing cycle was highly manual and taking a significant amount of time to process. We were also concerned with data accuracy and completeness of the invoices that were being created in Xero. We now use two managed functions for our billing process. The first function gathers the data from multiple sources and combines the data sets together. After validation, the second managed function takes the data and automatically creates invoices in Xero. This process is now done quickly, automatically and accurately by managed functions. We have enjoyed working with the Managed Functions team in developing these functions. They take a pragmatic and innovative approach to solving problems and we look forward to working with them on future projects.
At Agile Underwriting Services, the Agile finance team manages and administers financial transactions in multi currencies across a broad range of insurance products throughout Australia and the Asia Pacific region. As volumes of transactions increased, we were finding that more and more of our time and resources were being consumed by manually matching incoming payments to open invoices in our internal finance system. The Managed Functions team worked closely with us to ensure the system catered for our internal compliance and accounting requirements, allowing us to have a high confidence level in the automated process. We now have a scalable, highly accurate automated payment matching system in place, removing what was a very tedious and manual intensive task for our finance team members.
Agile Underwriting, CFO
At The Pharmacy Guild we needed to incrementally migrate our payroll data from one system to another. The Managed Functions team set up two functions that allowed us to do this repetitively over a period of months. Without the managed functions, we would have had to maintain a series of complex spreadsheets which would have been really challenging to get right. We greatly enjoyed working with the Managed Functions team during this project. They are responsive and outcome-focused and work through problems with good humour and innovative approaches.
Pharmacy Guild of South Australia, Payroll Services Manager
At Aquiliti we do a lot of spend categorisation for our clients. Once we categorise products and spend according to a taxonomy that is meaningful to our client we use a managed function to identify similar products to those we've already classified. It's the perfect meld of human expertise and machine automation. The Managed Functions team is approachable, energetic and insightful. We'll definitely work with them when future opportunities arise.
At Carnivore Qld we turned to Managed Functions when we were asked to integrate with one of our big customers. The Managed Functions team quickly implemented an electronic invoicing solution that has just worked ever since it was deployed. The team at Managed Functions talked us through exactly what needed to be done and why; and have managed everything since. I wish all of our IT worked the same way.
Carnivore QLD, CEO
Your business partners are automated; you should be too.
Take Insurance underwriters as an example. Brokers ask insurers to quote on policies for their customers. The brokers generate requests for quotes automatically - but when the underwriter receives the request for quote they key it manually into their underwriting systems.
A managed function can read quote requests emailed by brokers and put the quote requests directly into directly into your underwriting system.
Interact with your data as it moves from system to system
Sometimes your team will need to update data as it moves from system to system (such as adding an approver to a requisition workflow or validating a vendor prior to adding it to your master vendor file). Managed Functions provides a custom app to view and edit your data.
We are required to keep our data "on-shore". Do managed functions allow that?
Managed Functions can be deployed to any region currently serviced by AWS or your cloud provider. Click here for a list of AWS regions.
The process we'd like to automate requires data to be extracted from PDF files. Can a managed function handle that?
Managed functions are able to extract data from almost any source including PDFs.
One of the endpoints in the process is a legacy, on-premise system. Can a managed function connect to it?
There are several potential ways to connect with legacy on-premise systems ranging from custom connectors that run on your servers through to SFTP connections that exchange data with your internal network. Contact us to discuss the best approach for you.
We are a software company that needs to deploy the same connectors to several customers. Will you provide pricing that caters to that?
Of course. Much of our business is actually white-labelled solutions for software companies. You can read more about it here. And contact us for a specific quote.
Provide your team with the information they need do their jobs.
The Managed Functions team has been great to work with... They care about getting the best result for our business and work well with every member of our team from finance through to IT.
Ready to give Managed Functions a try?
Get started by clicking the button below. We'll contact you to discuss your needs. During the first call you'll be able to determine whether it is worthwhile exploring further.