Reading Time: 9 min.
Day in and day out, aging billing systems still process tens of thousands of transactions throughout our industry. However, these hard-working systems cannot always meet the needs of effective operations, nor can they help a company exceed customer expectations. How does a company generate a business case for an advanced billing system that addresses both sets of needs: operational and customer?
For a solid look into the crafting of a business case for a core system, readers can turn to the October 2011 Celent report “Reviving the Business Case for Insurance Core Systems Modernization.” Craig Weber and Karen Monks outline the role of the business case, discuss the impact that company culture exerts, and depict how a business case evolves from the starting point where goals and objectives are set through the final move into production with the system. Some considerations beyond these issues include:
• Hard Benefits
• Compliance Benefits
• Customer Service
• The Impact of Obsolescent Technology
• Soft Benefits
- Business Intelligence