BPM Wave International AG, a leading provider of Business Process Improvement Solutions for Oil and Gas, Energy, Manufacturing and Legal markets and Qualysoft, a leading process-oriented software services provider with an international presence, specialized on Utilities and Financial markets, have teamed up to develop an integrated approval management platform for the insurance industry. The solution embeds the best of breed products: Plenary™ by BPM Wave and Infinica™ by Qualysoft, and targets the Central and Eastern Europe region.
"Insurance companies in the CEE are on a rising trend to adopt state-of-the art technologies such as Business Process Management to ensure proper control and efficiency of their operational processes. Risk and exception management, as well as revenue growth and improved customer care are only a few of the goals which insurance companies hope to achieve by automating their processes and building solid Enterprise Architectures for their business model.
From this point of view, our joint solution for approval management takes the best of what both partners have to offer to the regional insurance market: Qualysoft’s extensive experience and know-how in developing solutions for insurance customers and BPM Wave’s awarded BPM product, Plenary™. Together, we have developed more than half a dozen operational processes for the use of both life and non-life insurance clients, on top of the existing 80+ standard Plenary™ processes, which have horizontal applications. More so, the solution embeds Qualysoft’s leading product, Infinica™, for advanced content management", says Adela Cornescu, CEO of BPM Wave International AG.
The partnership has been active since 2012 and will target both domestic and regional insurance players.
"Financial service providers have been facing strong competition since the deregulation of the markets. In order to align business processes in a cost-efficient and customer oriented way, they have to adapt their IT systems and the corresponding information flow to the new situation. Business processes which are still strongly based on hardcopies are especially inefficient, labour-intensive and increase the costs. For consolidation of their business and IT processes, insurance companies therefore have to be able to access creators of documents whose solutions automate business processes and thus shorten the distribution cycle. Depending on the case, cost reductions of up to 90% can be reached by the systematic use of corresponding tools for process automation and personalization of documents.
We are very confident that combining BPM Wave’s recognized expertise in business process management solutions, confirmed by the award winning Enterprise Authorization platform "Plenary", together with Qualysoft’s extended insurance business know-how and innovative smart document composition product "Infinica", we will provide our current and future customers with the means to focus on growing their business, rather than addressing time-consuming and recurring issues", says Marius Diaconu – Member of Directors’ Board of Qualysoft.
About BPM Wave International AG
With a focus on Business Process Management and Optimization, BPM Wave International AG, offers world class applications and professional services to continuously improve client operations performance through our expertise in the areas of Enterprise Architecture (EA), Business Process Management (BPM), Enterprise Application Integration (EAI) and Enterprise Governance. Our applications have been awarded for excellence by our strategic partners, IBM and OpenText, and have been implemented in more than 15 countries. BPM Wave’s portfolio of market tested and ready-to-use process applications are designed for both horizontal business use and Vertical Market operations such as Oil & Gas, Manufacturing, Legal and Pharmaceutical, to name some. For more information on the company, visit www.BPMWave.ch
Having affiliated companies in Austria, Hungary, Germany, Serbia, Slovakia, Ukraine and Romania, Qualysoft is a continuously growing group with 10+ years of software development, consulting and resource management expertise. INFINICA was founded in 2006 as a division of the Vienna-based Qualysoft Group with the aim of developing standard software products of high quality for the document management sphere. Four years later, our automated and controlled document composition product "INFINICA" won the ECM Award 2010 in the category "Economic Efficiency". For further information please visit us on www.qualysoft.com and www.infinica.com.