Financial automation software for the insurance industry
Unlock working capital to transform your business
As a result of ongoing macroeconomic uncertainty, proposed changes and tightening to regulations around the globe, and growing risks of contagion from other parts of the financial system, insurers and brokers need to rethink their business processes and product ranges.
If you want your company to remain competitive, new risk-based capital regimes require new approaches to meet the evolving needs of customers. One of the best places to begin your transformation is in your finance department, where streamlines processes, automation, and integrated platforms can empower you to optimize working capital and put cash to work more quickly in safeguarding your customers against risk.
Serrala helps you reduce the burden of financial management on your teams with intelligent invoice-to-payment, invoice-to-cash and treasury automation solutions that unify your business’s finances, boost decision velocity, and let you apply working capital quickly and accurately to strategic and tactical concerns.
Optimizing the Order-to-Cash
(Invoice-to-Cash) cycle: accounts receivable teams trust Serrala
Radically simplify even the most complex transactions, automate invoice posting, get paid quicker and with full visibility and compliance across your entire customer ecosystem.
Our solutions help you to create smooth and reliable AR environment that makes it easy for you to account for all invoices and incoming payments across all formats. Giving your teams and your customers a smoother and more intuitive experience and providing a solid foundation for understanding all your income streams. Putting you in a better position to apply incoming cash directly to business transformation and customer care without worrying about compliance overheads or manual transactional errors.
What can our Invoice-to-Cash solutions do for you?
Safeguard your business against legal, data, cyber, and financial risk with minimal overhead. Automated clarification, anti-fraud, and anti-money laundering screening and GDPR reporting provide you with peace of mind in the face of rising costs, supply chain and business model uncertainty, and regulatory
Serrala Avelate Bill Pay allows you to present all payment requests through a single online system, making it simpler for customers to pay you – and simpler for you to maintain relationships alongside your business obligations.
Create a payment experience your customers can love by offering flexibility in a fully branded omni-channel environment.
Our solution lets you know your exact cash position at any time and apply all cash with automated, same-day matching. This means you can make better use of your company’s funds in business transformation and in the creation of the insurance products of the future.
Automate up to 99% of payment reconciliation tasks with our AI-powered tools. Take complete control of your cash flow process, make immediate cost savings, and recognize and apply revenue faster.
Our customers can reduce their DSO (days sales outstanding) significantly by automating manual and repetitive tasks. Your people spend less time chasing invoices, and more time adding value.
Increase user satisfaction and reducing workloads and fees with automated, end-to-end processing of all bank statements, remittance advice, lockbox, and payment service provider settlements. Reducing workloads, reducing fees, and increasing user satisfaction and performance levels across your AR teams.
Our solution provides 400 pre-built reporting KPIs for instant reporting on your cash position – giving you the power to make smart decisions about how to finance new product development and shore up supply chains. Reporting is made simple across your entire invoice-to-cash process, ensuring better financial planning and strategic allocation of working capital where it’s needed.
Centralise and standardize to improve customer engagement and reduce time to pay with the most comprehensive collections and dispute management solutions available.
Safeguard your business against legal, data, cyber, and financial risk with minimal overhead. Automated clarification, anti-fraud, and anti-money laundering screening and GDPR reporting provide you with peace of mind in the face of rising costs, supply chain and business model uncertainty, and regulatory
Serrala Avelate Bill Pay allows you to present all payment requests through a single online system, making it simpler for customers to pay you – and simpler for you to maintain relationships alongside your business obligations.
Create a payment experience your customers can love by offering flexibility in a fully branded omni-channel environment.
Our solution lets you know your exact cash position at any time and apply all cash with automated, same-day matching. This means you can make better use of your company’s funds in business transformation and in the creation of the insurance products of the future.
Automate up to 99% of payment reconciliation tasks with our AI-powered tools. Take complete control of your cash flow process, make immediate cost savings, and recognize and apply revenue faster.
Our customers can reduce their DSO (days sales outstanding) significantly by automating manual and repetitive tasks. Your people spend less time chasing invoices, and more time adding value.
Increase user satisfaction and reducing workloads and fees with automated, end-to-end processing of all bank statements, remittance advice, lockbox, and payment service provider settlements. Reducing workloads, reducing fees, and increasing user satisfaction and performance levels across your AR teams.
Our solution provides 400 pre-built reporting KPIs for instant reporting on your cash position – giving you the power to make smart decisions about how to finance new product development and shore up supply chains. Reporting is made simple across your entire invoice-to-cash process, ensuring better financial planning and strategic allocation of working capital where it’s needed.
Centralise and standardize to improve customer engagement and reduce time to pay with the most comprehensive collections and dispute management solutions available.
Transform your Invoice-to-Pay process with Seralla’s AP automation and payment software
Our AP automation and payment solutions help secure optimize your cash flow and secure your supply chains and relationships with reinsurers. This gives you the power to understand your current and future position better to secure your supply chain against potential shocks and better allocate capital to strategic projects. While also saving time, mitigating risk, and keeping abreast of all reporting requirements through complete visibility and up to the second data analytics.
Serrala customers report that our solution not only improves their working capital position, but helps them save their teams thousands of hours a year across their invoice management and payment processes, from receipt to posting to vendor reporting.
What can our Invoice-to-Pay solutions do for you?
Quick and accurate cloud-based invoice capture eliminates manual processing for digital invoices. Providing immediate visibility into spend across your entire business, along with touchless processing to reduce manual input.
Our software lets insurance companies view and approve invoices for payment, on any device, at any time. Your buyers and business users can securely review transaction information and perform needed actions on the spot to ensure timely processing.
Your organization can use our solutions to define business-wide rules that increase efficiency and keep information flowing from your payables automation to payment automation. Helping guarantee your supply chain, reduce instability, ensure onward supply, and support a great end-customer experience.
A central hub for payment processing across all your ERP and financial management systems streamlines workflows and improves visibility. Simplify payment processing with workflows that automatically route payment requests for review according to standardized formatting rules. Eliminates the need for multiple redundant bank portals with a solution that centralizes your bank formats and connectivity.
Support your business growth with payables and payment solutions that are enabled for global business demands. Quickly onboard new vendors and handle increasing invoice volumes. Easily meet global payment requirements and banking standards with our managed automation service.
Rule-based checks of your payment transactions make monitoring for fraud, flagging suspicious activity, and preventing double payments simple. This means you’re only spending on the resources your business needs, and nothing can fall through the cracks.
Self-service portals and direct connections to your supplier networks ensure faster receipt, processing, and management of vendor invoices. Connect to bank portals or other payment service providers to centrally manage payments and communications for a streamlined user experience, improved visibility, and enhanced control.
Quick and accurate cloud-based invoice capture eliminates manual processing for digital invoices. Providing immediate visibility into spend across your entire business, along with touchless processing to reduce manual input.
Our software lets insurance companies view and approve invoices for payment, on any device, at any time. Your buyers and business users can securely review transaction information and perform needed actions on the spot to ensure timely processing.
Your organization can use our solutions to define business-wide rules that increase efficiency and keep information flowing from your payables automation to payment automation. Helping guarantee your supply chain, reduce instability, ensure onward supply, and support a great end-customer experience.
A central hub for payment processing across all your ERP and financial management systems streamlines workflows and improves visibility. Simplify payment processing with workflows that automatically route payment requests for review according to standardized formatting rules. Eliminates the need for multiple redundant bank portals with a solution that centralizes your bank formats and connectivity.
Support your business growth with payables and payment solutions that are enabled for global business demands. Quickly onboard new vendors and handle increasing invoice volumes. Easily meet global payment requirements and banking standards with our managed automation service.
Rule-based checks of your payment transactions make monitoring for fraud, flagging suspicious activity, and preventing double payments simple. This means you’re only spending on the resources your business needs, and nothing can fall through the cracks.
Self-service portals and direct connections to your supplier networks ensure faster receipt, processing, and management of vendor invoices. Connect to bank portals or other payment service providers to centrally manage payments and communications for a streamlined user experience, improved visibility, and enhanced control.
Cash management and treasury software
Solutions for insurance treasury must be capable of maximizing your working capital while minimizing manual input and keeping visibility and reporting accuracy high for regulatory compliance. Our solutions make all of this simple.
Our cash management and liquidity solutions empowers you to take total control of your cash, plan and forecast your liquidity, and simply and comprehensively manage your accounts and mandates. Helping you keep costs down, anticipate and plan for many possible futures, and ensure your teams have the resources they need to drive strategic initiatives and manage financial risks while ensuring compliance.
What can our cash management and treasury solutions do for you?
Get the data you need with simple, intuitive configuration, whatever your teams need to know – no matter your precise product, customer profiles, regulatory obligations, or what your teams need to know.
Analytics for all account information and cashflow status provide an up-to-the-second picture of your company-wide liquidity. Giving you the power to allocate working capital as soon as it becomes available to maximalize your ROI on new business model development.
Stay informed of your cash position up to the second, and give your people the confidence to make the investments necessary to drive your success.
Flexibly configure your categories for cashflow-based planning, simulations, and scenarios. This gives you a better idea of how to react in a range of situations from supply chain breakdowns to unexpected market changes.
Our treasury solution gives you the capacity to manage loans, credit facilities, money market instruments, and more with intuitive connections to trade portals, bank accounts, and other services.
Get the data you need with simple, intuitive configuration, whatever your teams need to know – no matter your precise product, customer profiles, regulatory obligations, or what your teams need to know.
Analytics for all account information and cashflow status provide an up-to-the-second picture of your company-wide liquidity. Giving you the power to allocate working capital as soon as it becomes available to maximalize your ROI on new business model development.
Stay informed of your cash position up to the second, and give your people the confidence to make the investments necessary to drive your success.
Flexibly configure your categories for cashflow-based planning, simulations, and scenarios. This gives you a better idea of how to react in a range of situations from supply chain breakdowns to unexpected market changes.
Our treasury solution gives you the capacity to manage loans, credit facilities, money market instruments, and more with intuitive connections to trade portals, bank accounts, and other services.
Discover how Serrala’s solutions are transforming the way Insurance businesses handle their finances
Kingpolis – digitizing AR processes saves €100,000 over 9 months
A young insurance company experiencing rapid growth, Dutch insurer Kingpolis sought to digitize its payment requests process to improve customer experience and create company-wide efficiencies by reducing late or missed payments and giving their finance team an instant view of transactions.
They turned to Serrala for a solution that not only sends payment requests automatically, but which enables payment at the same time. Lowering the barrier for people to make quick payments with unique links sent via email, SMS, or QR codes on paper requests.
Eliminating the need to set up manual bank transfers has helped ensure timely payments and allows for seamless reconciliation of the resulting transactions – along with the ability to instantly track any payment request and follow up if any action is needed. As a result, Kingpolis reduced their average DSO from 26 to just 14 days, and saved over 60% on their print costs by digitizing.
“Implementing payment requests from Serrala was a big step forward for us. It was a smooth project that quickly paid for itself, and it has proven to be a reliable service.
Zurich North America – transforming financial transaction processing across 7 unique claims payment processes
As an international insurer whose customers include 95% of the Fortune 500, Zurich NA sought an AP automation solution that would help manage millions of invoices and claims generated by its brokers and customers each year, with a view to lowering costs, reducing processing time, eliminating manual labor from payment request processing, and ensuring timely payment of claims.
The company began working with Serrala in 2019 to design, test, and deliver a solution that would fully automate financial transactions as they transitioned to their new SAP S/4HANA ERP deployment.
Using our solution, Zurich NA’s payables team was able to reduce out-of-balance errors for claims to almost zero. Simple rules-based processing tasks are now completely automated and more complex tasks like approvals or reversals are now flagged for additional handling.
The solution helped us rethink the way we were processing our payables. As a result, we're looking at ways to further adjust our processes to eliminate redundancies and we’re reassessing what work is done and by whom. Is it a human, a full-time employee, a robot, or a piece of technology software? I do envision the way we do things will change based on this experience
Connect with us and begin unlocking the full power of your financial processes
