Background
Our client is one of the world’s largest privately-held insurance brokerage companies that provides insurance and risk management services. As part of their brokerage services, they offer a web-based surety bond processing platform that allows them to manage and share information regarding a client’s bond portfolio. This information includes the values of items in the bonds, how much is owed, how much is paid off, relevant transactions, etc. The client sought an opportunity to enhance this application natively within the Salesforce ecosystem, with the intent of streamlining business processes.
Challenge
The organization’s existing solution created inaccuracies and caused the organization to fall behind on reporting, making it difficult for their employees to trust the information they had available to them. They needed a solution that would scale across business lines without creating overlaps within their system, which meant that they required separate architecture. At the same time, they needed to maintain platform flexibility for future expansion and customization as their business grows. To create a solution that fulfilled all of the business’s requirements, this project required a redesigned data model with new business rules.
Approach
- Build out and launch a bond management and reporting application that meets all of the needs and requirements but also provides a flexible foundation for onboarding new clients. - Re-establish trust in the reporting with accurate data that can easily be exported as customizable Excel reports and presented as Tableau dashboards - Train the relevant users on the new application and reporting functionality
Key results
Benefits
- Biannual financial reports, which previously required nearly a month to compile, can now be generated almost instantly with a complex native SFDC report and dashboard. These upgraded reports also have date range functionality to make the report more dynamic. - Monthly SFDC reports, which previously took 1-2 weeks to generate, are now fully automated.
Technology partners
Salesforce
Salesforce, a leading SaaS solution, specializes in customer relationship management (CRM). With its comprehensive suite of services, Salesforce empowers businesses to leverage cloud technology for enhanced connectivity with customers, partners, and prospects. Renowned for enabling customer success, Salesforce's software stands at the forefront of driving businesses towards stronger customer relationships and achieving their sales objectives.
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