Tech »  Topic »  Better together - why insurance firms must modernize their Finance and HR applications

Better together - why insurance firms must modernize their Finance and HR applications


Many insurers have yet to move to a fully modern, digital platform for their core enterprise Finance, HR, and analytics applications, which are still running via standalone and often outdated systems.

Organizations are then challenged with siloed data that deters them from gaining the timely business insights that they need to be more agile and make better, faster decisions.

And their employees? Their time is then spent conducting non-value-adding tasks such as manual processes, reconciling data, and processing transactions instead of aligning to key priorities that support the business. Insurers are unable to take advantage of the power of their data and leverage the insights to remain competitive in the marketplace.

According to a recent IDC InfoBrief sponsored by Workday [From Legacy to Leading: How Modernizing Core Business Areas Can Propel Insurers to Resilience, IDC #US50932123 August 2023], 70% of insurance providers face delays of more than three days in ...


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