Infor Solution Helps MAPFRE to Integrate Financial Operations and Improve Efficiency
Insurance Company in Argentina Uses Technology to Improve Financial Processes and Support Company’s Growth
Las Vegas, NV, September 14, 2007 --(PR.com)-- Infor today announced that MAPFRE, one of the leading insurance companies in Argentina, has improved its financial processes with the implementation of Infor FMS SunSystems. The Infor FMS solution is used to manage the financial operations of MAPFRE’s 330 offices. Financial-related data is shared by users in different areas of the company who can access it according to their profile and needs, such as Finance, Human Resources, etc.
“We are convinced that our choice of Infor FMS was the right one in terms of the scalability and flexibility we need to support our growth and meet the precise requirements of our sector,” said Aldo Canton, Accounting and Tax Manager for MAPFRE. “The main reasons we chose the Infor solution were its swift integration to the company’s existing applications, its ease of use and low cost of ownership. With the assistance of Infor, we have developed interface programs that enable us to link SunSystems with several of our applications, on the principle of a shared database that managers have access to in real-time, which was one of the critical issues we faced.”
MAPFRE’s latest expansion of their SunSystems implementation is Infor PM EIF Studio, a database connector which enables MAPFRE to extract information from its insurance policy system in order to create custom reports.
Since its SunSystems implementation, MAPFRE has benefited from:
• Generation of highly analytical info in real-time
• Different areas of the company have access to the information, according to their profile
• Reliable data to generate reports
• Easy to manage local and corporate accounting
• Multi-company management
• Simple integration with third party applications
“The results of the Infor implementation have been very positive for MAPFRE,” adds Canton. “Now, we can close monthly accounting operations in just two days and with fewer errors than before, thanks to the alerts and rules provided by the software. The time to run quarterly reports has been cut in half, and data is more reliable.”
Another important element of the implementation was Infor’s ability to support MAPFRE’s more than 300 percent growth rate since 2003. During this time, MAPFRE went from 662 employees to more than 2,000, and incorporated new companies to the Group (MAPFRE HEALTH, prepaid medicine, MAPFRE CLUB customers’ fidelization). The network is all managed by the same accounting group. The SunSystems solution enables MAPFRE to manage a larger company, without additional headcount.
According to Claudio Umaschi, Infor’s Vice President for the South Cone, Latin America, “time and financial management have become key issues for organizations looking to maximize the value and efficiency of their available resources.”
Infor FMS enables companies to integrate and streamline local and multinational financial resource management processes from end to end. By doing so, they achieve a reliable, apples-to-apples view of financial performance across the entire enterprise, as well as the flexibility and control necessary for adapting to the demands of even the most challenging business environment.
About Mapfre
MAPFRE ARGENTINA belongs to the MAPFRE Group founded in Spain in 1933. In Argentina, it provides national coverage through 330 centers, with 2000 employees and 2900 consultants. MAPFRE is the number one insurance company in Argentina according to the national ranking in the insurance market (not life insurance), and since 1986 it works jointly with FUNDACIÓN MAPFRE to promote social integration and development.
Grupo MAPFRE activities are mainly insurance and reinsurance activities in 39 countries. The total corporate revenue is 13,583 euros (December 2006) a 9% increase from previous fiscal year. Insurance and Reinsurance primes were for 11.000 million euros, with a growth of 8 percent.
About Infor
Infor delivers business-specific software to enterprising organizations. With experience built in, Infor’s solutions enable businesses of all sizes to be more enterprising and adapt to the rapid changes of a global marketplace. With more than 70,000 customers, Infor is changing what businesses expect from an enterprise software provider. For additional information, visit www.infor.com.
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“We are convinced that our choice of Infor FMS was the right one in terms of the scalability and flexibility we need to support our growth and meet the precise requirements of our sector,” said Aldo Canton, Accounting and Tax Manager for MAPFRE. “The main reasons we chose the Infor solution were its swift integration to the company’s existing applications, its ease of use and low cost of ownership. With the assistance of Infor, we have developed interface programs that enable us to link SunSystems with several of our applications, on the principle of a shared database that managers have access to in real-time, which was one of the critical issues we faced.”
MAPFRE’s latest expansion of their SunSystems implementation is Infor PM EIF Studio, a database connector which enables MAPFRE to extract information from its insurance policy system in order to create custom reports.
Since its SunSystems implementation, MAPFRE has benefited from:
• Generation of highly analytical info in real-time
• Different areas of the company have access to the information, according to their profile
• Reliable data to generate reports
• Easy to manage local and corporate accounting
• Multi-company management
• Simple integration with third party applications
“The results of the Infor implementation have been very positive for MAPFRE,” adds Canton. “Now, we can close monthly accounting operations in just two days and with fewer errors than before, thanks to the alerts and rules provided by the software. The time to run quarterly reports has been cut in half, and data is more reliable.”
Another important element of the implementation was Infor’s ability to support MAPFRE’s more than 300 percent growth rate since 2003. During this time, MAPFRE went from 662 employees to more than 2,000, and incorporated new companies to the Group (MAPFRE HEALTH, prepaid medicine, MAPFRE CLUB customers’ fidelization). The network is all managed by the same accounting group. The SunSystems solution enables MAPFRE to manage a larger company, without additional headcount.
According to Claudio Umaschi, Infor’s Vice President for the South Cone, Latin America, “time and financial management have become key issues for organizations looking to maximize the value and efficiency of their available resources.”
Infor FMS enables companies to integrate and streamline local and multinational financial resource management processes from end to end. By doing so, they achieve a reliable, apples-to-apples view of financial performance across the entire enterprise, as well as the flexibility and control necessary for adapting to the demands of even the most challenging business environment.
About Mapfre
MAPFRE ARGENTINA belongs to the MAPFRE Group founded in Spain in 1933. In Argentina, it provides national coverage through 330 centers, with 2000 employees and 2900 consultants. MAPFRE is the number one insurance company in Argentina according to the national ranking in the insurance market (not life insurance), and since 1986 it works jointly with FUNDACIÓN MAPFRE to promote social integration and development.
Grupo MAPFRE activities are mainly insurance and reinsurance activities in 39 countries. The total corporate revenue is 13,583 euros (December 2006) a 9% increase from previous fiscal year. Insurance and Reinsurance primes were for 11.000 million euros, with a growth of 8 percent.
About Infor
Infor delivers business-specific software to enterprising organizations. With experience built in, Infor’s solutions enable businesses of all sizes to be more enterprising and adapt to the rapid changes of a global marketplace. With more than 70,000 customers, Infor is changing what businesses expect from an enterprise software provider. For additional information, visit www.infor.com.
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www.infor.com
Kayla Eubanks
404-601-3660 x 112
www.infor.com
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