Many businesses continue to rely on legacy systems because they are convenient to use, inexpensive to maintain, and—more than anything—they work. Modernizing these antiquated systems sounds good, but in reality, it’s far from easy. These systems are often deep-rooted throughout day-to-day business operations and entrenched within the technology landscape. It would be an arduous task to rip and replace, to say the least. However, incumbent processes often stand in the way of an organization’s ability to expand and adapt in the face of growing market competition. Challenges introduced by legacy systems include: Obsolete technologies: Repetitive maintenance of obsolete and out-dated …

From simplifying global risk management and compliance to transforming claims processing and combating fraudulent claims, low-code automation solutions can deliver far-reaching benefits across the insurance value chain. Low-code automation implementation can fuel innovation and drive transformation for insurance companies. Implementing business process management creates benefits across the value chain: Maintaining regulatory compliance Proactively transforming claims processes Improving the insurance customer experience Agent-broker channel automation Living in the Past (and Quickly Aging Out) Rapid technological advancements of the past decade have reshaped many industries, yet the multi-trillion-dollar insurance industry has largely avoided the ambit of disruption. With little incentive to change, …

Hospitals and health systems are feeling a financial squeeze, one of the many ripple effects of a global pandemic wreaking havoc on healthcare infrastructure. In hospitals inundated with COVID-19 patients, elective and non-emergent procedures were cancelled or postponed indefinitely—a trend with significant impacts on the bottom line. With revenue down, hospitals and health systems are looking to maximize cash flow and savings wherever possible by bolstering resources to manage cost-savings programs like 340B. For organizations that are new to 340B or that had been underutilizing the program, the crisis has provided an opportunity and a call-to-action to adopt, expand, and/or …

The role of CRM applications in sales organizations has grown in significance in the past decade, as innovations in technology have enabled powerful capabilities. Once considered fairly one-dimensional repositories of customer information, applications like Salesforce have become critical to enhancing sales performance and facilitating business success. Today, CRM can make or break a sales organization’s success. Salesforce is often the go-to solution for sales organizations looking for a ready-made CRM implementation, free from the added expense and effort involved in system customization. This is great for Salesforce, but may not be especially beneficial to customer organizations in the long run. …

The COVID-19 pandemic has upended much of the world as we know it, wreaking havoc on industries of all sizes to varying degrees. And while business may be booming for networking technology companies or healthcare suppliers, for most industries the outlook is a bit more complex. In the years preceding the pandemic, the landscape of the insurance industry had begun to shift dramatically. The industry had been experiencing a fundamental transformation driven by the emergence of InsurTech—which has accelerated product innovation and introduced new business models—and an increasingly stringent regulatory environment. In an industry not accustomed to radical change, insurance …