Financial Administration
Focusing on the Third Revenue Lever
SunGard’s iWorks Investments solution provides the software carriers need to streamline investment regulatory, accounting and management processes. iWorks helps save time and improve accuracy by integrating with internal and external systems such as securities trading, market data vendors, bank custodians and general ledger systems. The systems are specifically designed to address complex investment portfolio management, accounting and reporting requirements. Download the Investment Management Whitepaper here.
Ease Compliance with Evolving NAIC Regulations
Complying with a constantly changing set of regulations from the National Association of Insurance Commissioners (NAIC) is akin to herding cats. Seemingly impossible. But, SunGard can ease the process by keeping you informed with updates on the latest issues discussed and decisions made by NAIC. Hear the latest updates from the March 2012 NAIC Meeting attended by Dennis Lebar, CPA – SunGard iWorks Senior Regulatory & Accounting Specialist.
Regulatory Convergence: Are CFOs Ready for Change?
As regulatory requirements evolve, your accounting practice must weigh the costs and consequences of compliance. Maintaining the status quo is no longer an option as you consider your accounting solutions' ability to keep pace with all the changes. The message is clear: insurers having control over the financial aspects of their business will be well positioned to respond to convergence. The risks faced include the inability to make timely business decisions and possible non-compliance with rapidly changing regulatory and accounting standards. Please click here to download SunGard's perspective on Regultory Convergence.
New International Financial Reporting Standards on the Horizon
International Financial Reporting Standards (IFRS), accounting standards developed by the International Accounting Standards Board, are fast becoming the global standard for preparation of public company financial statements—and could potentially replace GAAP in the U.S. According to the Securities and Exchange Commission, a single set of globally accepted accounting standards would benefit U.S. investors, which is why the commission is pushing for the convergence of U.S. GAAP and IFRS by as early as 2015. How will convergence impact your insurance organization? View our latest IFRS blog post, written by SunGard’s Dave Zdechlik, for some insight.
XBRL is Revolutionizing Business Reporting Around the World
XBRL, a language for exchanging business information electronically, will soon become the standard for recording, storing and transmitting business financial information throughout the world. Using XBRL, which will meet all requirements imposed by regulators, lenders and other financial statement users, is predicted to save companies money, enhance processes and improve efficiency by increasing the usability of financial statement information and supporting automated data collection. Click here to learn more about XBRL, its status and how its use may impact your organization.