Category: Cloud

Software as a Service (SaaS) has slowly become a norm among SMBs partly because of the variety that it offers and also because of the cost effectiveness. Certainly, SaaS is here to stay and with cloud computing finding enormous acceptance even among larger companies, SaaS will begin to witness an increase in its size and stature. Most companies do not realize that they are already engaging or integrating SaaS in one way or another. If you are using a software program that is available when you plug into an internet connection, you are probably using a SaaS solution. It has helped a number of companies to gain access to software that they previously couldn’t have afforded. SaaS brings proprietary and often expensive software programs to people and companies who can’t normally afford them. Software programs are run on cloud servers and clients use them as required, whenever they need to. The best feature of SaaS probably is that it can be used from anywhere in the world and programs need not be installed on individual computers. This means, companies will save a lot of money not only on software programs but also on storage devices and computer hardware. They will not need to purchase servers or invest in computer storage devices that store all the database. Instead, everything is stored and processed in the cloud, leading to an efficient and streamlined approach towards IT. Most companies want to reduce costs Companies certainly want to be able to reduce the amount of money they spend on software programs. It is simply not economical to spend hundreds or even thousands of dollars on software solutions only to realize that they can no longer store the data they have used. Many companies also belatedly realize that the software solution which they purchased is simply not for their business. When this happens, they often regret having spent thousands of dollars on one single software program. A SaaS solution on the other hand allows the clients to choose the modules they specifically want, with the ability to turn off or unsubscribe from those very services when they do not need them anymore. This flexibility allows companies to try software solutions and then decide upon the one that is best suited for them. SaaS thus helps companies to reduce costs. This is a truism that most companies are well aware of now. So, SaaS integration is likely to grow in the near future, specifically because of the financial advantages it presents. Many companies cannot afford proprietary software Proprietary software solutions cost a lot of money and they do not come with the same level of freedom as a SaaS module. In a SaaS module, clients are free to choose the modules that they need and they usually only pay for what they use. There are also hybrid modules that let companies to combine SaaS with on-the-location software programs. The problem with proprietary software solutions that are legacy based is that they are just too expensive and they also require a lot of storage space. Most companies simply do not have the kind of IT budget that is required of them to purchase these programs. Moreover, it may also not be what they require. What really happens is that they end up spending more money on something that may not be entirely useful for them. IT departments are looking at leaner operations It is also becoming increasingly clear that heavy software programs are not necessary for every company. Some companies may require just a few modules of a larger suite. IT departments have been insisting on this for a long time now and it is only a matter of time that CEOs also understand this. Leaner operations mean less maintenance, less storage and even less cloud computing requirements. After all, even SaaS can be reduced to a minimal level if one knows what is required. IT departments within companies have begun to stress on the importance of not buying entire software suites which may not be required for a company’s business operations. Software as a Service effectively solves this problem by making only those features available to companies which they need the most. SaaS is growing with cloud There was a time when there weren’t too many options with respect to services available on the cloud. Now, almost every kind of software program is available on the cloud and that too on a SaaS model. This has helped a number of companies to access software programs that they earlier couldn’t have. In other words, we can say that SaaS is growing alongside cloud computing and that is a very impressive development indeed. Cloud computing is expected to grow phenomenally in the coming years. It is only a matter of time before legacy programs are rendered old fashioned and outdated. More companies will begin to use SaaS in order to reduce costs and also access programs that they previously couldn’t have. What we can expect within the domain of SaaS Certainly, we must look at SaaS integration alongside Platform as a Service (PaaS) and Infrastructure as a Service (IaaS). SaaS, PaaS and IaaS are the three major revolutionary changes that are occurring within the domain of information technology. This revolution is aided by cloud computing and integration of IaaS, SaaS and PaaS as and when required will be the norm in the coming years. One just needs to wait and watch to understand how phenomenally SaaS integration is likely to become a part of our business lives. In the years to come, we expect to see more companies switching over to SaaS or at least integrating SaaS within their existing IT frameworks. All this eventually leads to the democratization of technology in general. This also means, there will be room for innovation and increased ROI for companies involved. 2016 will likely see these changes sooner than what we witnessed in 2015 and this is certainly a positive development. In other words, SaaS integration will help SMBs and

There is a lot more awareness about insurance these days than ever before. With marketing and social media strategies helping insurance companies, we see an increasing number of people buying policies for everything they possibly can. While it is a good sign for insurance companies, a lot of people also claim insurance these days when things go wrong. It is difficult for financial institutions to review every insurance claim manually. Reviewing these claims alone costs a lot of money and resources. Insurance officials admit that they spend more money on processing claims than they would actually do on marketing or getting people to buy policies. At the end of the day, insurance companies want people to buy policies and not actually have to pay insurers money when they file claims. One of the ways insurance companies can ensure that both customers and the companies are happy is to use automation software programs. Claims management solutions help insurance companies to do precisely that. They help in running operations so that customer service is improved and errors are minimized, leading to customer satisfaction and also reduction of time resources. Insurance companies can also ensure that legal formalities and payment handling are done automatically, all of which previously required expensive legal and clerical staff support. With all this in mind, it only makes sense to go ahead with claims management solutions full on. In this article, let us take a look at what a typical claims management solution does. What does a claims management solution actually do? A good claims management solution offers adjudication support all through the timeline of a claim. This applies to both personal and commercial claims. Whether it is about the first notice of loss or reducing the payments made to claimants, these automation solutions increase customer satisfaction and boost revenues. A good claims management solution helps insurance companies to setup claims and then process first notice of loss. Next, it helps the company to investigate these claims and engage in adjudication and subrogation. Along the way, these solutions provide important analytics which help in understanding the severity of the claims made and also detect frauds, if any. Further, it also helps in certain consulting operations including benchmarking, lean transformation. Last but not the least, a claims management solution is a software program, which means, you receive the best IT support you possibly can for your insurance company. All this helps to streamline the claims processing system and ensures enhanced customer support and satisfaction. How claims management solutions help you enhance customer relationship Claims management solutions also provide data correction and call center services. These are important points of contact that help customers and your staff to reach a sort of agreement. When a customer makes a claim, it needs to be entered in an orderly manner before being processed. Manual entry of claims can lead to inadvertent errors and mistakes. Automating this process helps in increasing transparency and ensuring that you don’t fall victim to fraudulent claims nor will the customer miss out on genuine payments that you should be making to them. All in all, these sorts of solutions accelerate claims processing and builds a healthy attitude towards insurance companies in the market. It should be well noted that most of the time customers even choose not to make claims because the process of doing so is so convoluted. When making insurance claims are automated, it helps the customer to enter data himself or herself, without your staff having to do so. In case of disasters or emergencies, your customer will appreciate this speedy processing of claims. Cloud based solutions only help you to take it all a step further Claim management software solutions are cloud based and ensure that all data is stored on cloud servers. This means, all the data related to insurance policies are encrypted and there is no chance of this data being accessed by unsavory individuals. It also helps to know that all this can be stored for a relatively lower cost than you probably would if you still used legacy systems. Moreover, the reports, the metrics and the analytics help you to understand wider insurance trends that will help you to make policies with respect to claims processing. Claims analytics provide valuable data and reports with respect to what is really happening and that is something that you as an insurance company cannot take for granted. After all, it is known that more than 80% of an insurance company’s costs go towards claims and claims processing, even if they are not paid back to the customer. Automating this expensive but repetitive task ensures clarity, transparency and also a more contemporary approach towards solving problems. What the future holds for insurance companies with respect to automation Insurance companies will likely see an increased number of claims being made in the near future, simply because of the sheer number of people who buy insurance policies these days. This means, companies will need to be wary of fraudulent claims and also ensure that they don’t end up paying more than what they legally are required to. Next, companies will have to be wary about storing encrypted data and this should be done only on a trusted cloud server. All this data should be processed and analyzed by trusted claims management software programs so that malicious entities do not get hold of your customer’s valuable data. A good claims management system will ensure that all data is processed effectively and safely and that everything happens quickly. It also ensures that you have access to good customer care and that your company always has access to top-notch IT solutions in the form of claims management solutions. Last but not the least, insurance companies should start moving away from legacy systems and programs and opt for cloud-based technologies that will help them to automate their regular tasks and focus on what is really important. After all, it is important to maintain a balance between understanding why