Are You Making the Most of Your Agency Accounting Data?
Insurance agency accounting can be fraught with small mistakes that lead to huge headaches. With so many moving pieces in an agency, it can be difficult to keep track of the multiple pieces that make up accounting in an organization. Often, we hear from agencies struggling with:
- Maintaining accounting accuracy, especially among those with multiple branches
“With multiple locations, the accounting plug-in is a must…The financial reports I can produce (with the accounting plug-in) are second to none. It’s a piece of cake to do seemingly complex reports.” – Berndt and Murfin Insurance Agency
- Avoiding errors and omissions particularly in light of unavoidable human error
- Investing too much time entering and tracking financial information
- Creating and understanding relevant reports around cross-selling opportunities, producer performance, and for tax preparation among other areas
“With Partner XE, I can get our entire agency billing and accounting done in three or four hours a month. That’s a tenth of the time it used to take.” – Huesman Insurance Group
Creating a Better Accounting Experience
These accounting woes tend to stem from a lack in an agency’s management system capabilities. Agency management systems have come a long way in addressing financial processing. Some critical pieces for accounting success include:
- An integrated accounting system to automate and eliminate error from time-consuming tasks like commission matching and invoicing
- Customized reports that can be set up once and run regularly integrating financial information and customer data as needed
- Direct bill commissions download to connect commissions with customers and policies automatically
- Reliable and timely training and service around accounting areas
The individual customer service (with Partner XE) is outstanding. When we have a problem and we send an email, we get an answer within the hour…Knowing you’ll get a resolution in a timely manner is essential.– THW Insurance Services
A Better Experience with SIS
We know these accounting struggles well: we’ve heard them from our partner agencies. It’s feedback from these partners that prompted us to add integrated accounting, direct bill commissions download and other features to help ease the stress of financial tracking and processing in our Partner XE management system. And, should our users need a quick refresher or hit a snag, we’re just a phone call or email away from solving the issue with our expert support team.
Author: Sarah Deak
Sarah Deak has been contributing to the SIS team since 2013, covering topics like agency perpetuation, workflow improvements, data security, and marketing. She has a background in small business, working with organizations to improve their online presence and client engagement. Sarah also writes for the SIS newsletters and website, and counts herself lucky to hear from our many passionate, hard-working clients for our client stories. Her favorite part about working for SIS are the dedicated, service-minded people.