About the client:
In 1985, Allied Insurance Company of the Maldives started as a joint venture between Commercial Union Assurance Company, UK, and State Trading Organization (STO), a national trading company of Maldives. Today, it is 100% incorporated and owned by the Government of Maldives.
It is the largest and prominent insurance brand on the tiny island of Maldives, having a population of half a million, and has experienced tremendous growth in terms of volumes and profitability. From small fishermen to big resort operators, Allied Insurance has catered to varied audiences and played a vital role in the development of the economy as a whole! Please explore http://www.allied.mv/
Allied Insurance (client) mainly consisted of 4 legal entities in Maldives namely General Insurance, Life Insurance, General Takaful, and Family Takaful and each entity had its own set of product offerings for their people. Due to the rapidly expanding customer base, it was increasingly growing difficult to manage their business on legacy ERP like AccTrack21 owing to the lack of accurate reporting capabilities and automation. Furthermore, being a state-owned corporation in Maldives, they were determined to deploy better systems to increase transparency among the public.
For years, Allied Insurance relied upon AccTrak21 as their accounting software (ERP) for enabling financial operations in the background. As more customers were onboarded, the accounting team faced multiple limitations on AccTrak21 concerning their reporting capabilities and automation.
CloudFronts migrated them from AccTrack21 to Dynamics 365 Finance, a Cloud based ERP, wherein they can manage, plan, and analyze financial processes seamlessly. For newcomers, Dynamics 365 Finance has the capabilities beyond just accounting software, unifying your infrastructure to drive your business forward!
On the front end, ARIMA insurance software is inducted to formulate smooth experience in terms of office portals and mobile solutions catering to the needs of clients, agents, and sales distribution. Our ERP team is continuing to work and integrate the ARIMA solution with Dynamics 365 Finance.
Allied Insurance operated on their own customized and built in-house HR and Payroll system – which they named ‘Viyana’) and hence, Dynamics 365 Finance was integrated with their in-house HR and Payroll platform to continue the simplified payroll process and 100% accuracy.
Our team configured Dynamics 365 Supply Chain Management (SCM) for managing their procurement and sourcing capabilities i.e from identifying products/services, receipt, invoicing, till processing of payment with vendors.
Since Outlook from Microsoft 365 was leveraged by the client for their internal communications, the integration enabled them to monitor financial data related to customers and vendors, as well as create and send financial documents, such as quotes and invoices!
“CloudFronts team was quick, responsive, and harmonious. They collaborated with our accounting and IT team to implement Dynamics 365 Finance and ensured special focus on the training program for us to get familiar and accustomed to the new system.”
– Husham Abdul Shakoor, Assistant Manager, Accounts & Finance, Allied Insurance
Post Go Live:
Post migration from AccTrack21 to Dynamics 365 Finance, the core accounting team has been able to report the below benefits:
- As the client’s customer base continues to expand at rapid pace, it has become easier for them to now scale up and down in Dynamics 365 Finance as per their needs, thus driving operational performance at much higher pace!
- Due to advanced automation, deep functionalities, and in-depth reporting capabilities, the client can look forward to eliminating financial reporting errors, get access to holistic financial analytics, and maximize financial visibility and profitability.
- Dynamics 365 Finance has empowered the client to manage business interactions with customers and vendors directly in Microsoft Outlook thereby, enhancing an effortless and better process towards collaboration.
- Due to Dynamics 365 SCM, their procurement team can now configure and perform the complete ‘procure-to-purchase’ process seamlessly.
- Because of the smooth integration with the other third-party payroll and CRM platform, Allied Insurance can still operate their business as usual, but with much enhanced capabilities today.
- Last but not the least, as Dynamics 365 Finance is Microsoft cloud-based, their organisational data is 100% secured and safeguarded against any cyber-attacks.