Medscheme has joined forces with Business Objects (locally represented by Usko Software) to launch iFundi, a highly interactive, web-based reporting mechanism which will for the first time allow trustees, brokers and fund managers within the healthcare sector, immediate access to invaluable online fund-level information.
The support tool behind iFundi is Business Objects`s Web Intelligence. It is the leading query, reporting, and analysis solution for the Internet. WebIntelligence is a thin-client solution that enables users to access, analyze, and share corporate data using a simple browser as their interface, while maintaining tight security over data access.
iFundi will revolutionise the traditional means of accessing fund information. Kim Kennedy, Data Warehouse Manager for Medscheme, says that the new system will provide intermediaries, trustees and fund managers with customised information from Medscheme`s highly sophisticated datawarehouse. Medscheme has one of the largest healthcare datawarehouses in the Southern Hemisphere which is the foundation for the group`s managed care initiatives.
Medscheme currently administer over 50 different medical schemes taking the number of lives in Medscheme`s managed portfolio to 2,5 million as of February 2000. Confidentiality of information is assured as recipients are only allowed access to information pertaining to their specific clients. Kennedy says that the service is provided free of charge as a value-added benefit to Medscheme affiliates. "Once a confidentiality and ID registration
form has been completed, comprehensive information on the scheme for example Contributions vs. Benefits can be accessed. "We are providing users with access to in-depth information which allows them to track trends and patterns and provides them with the information necessary to verify the financial well being of the scheme" she says.
The information is provided immediately and is based on process month data as well as treatment data.
The benefits to the user are substantial:
Information is provided free of charge
Information is provided electronically via the web
Speed and performance is enhanced significantly
Information is up-to-date real time information
The service is highly flexible to meet individual needs
Secure data using encryption
"The saying `knowledge is power" is especially true in the healthcare funding industry and through the link with Business Objects this information can now be shared with some of our partners," says Kennedy.
According to Annaliza Janse van Rensburg, Product Manager for Usko Software, "this is the first extranet application of WEBI in Africa and we are confident that it will set the trend for future utilisation in similar disciplines".
A pilot is currently being undertaken at Alexander Forbes and it is expected that at the time of launch, iFundi will commence with a user base of 200 - 300 users.
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Business Objects
Business Objects is the world`s leading provider of e-business intelligence (e-BI) solutions. Using e-business intelligence, organizations can access, analyze, and share information in intranet, extranet, and e-business environments. In intranets, the company`s products provide employees with information to make better business decisions, and are used in environments ranging from workgroups of 20 users to enterprise deployments exceeding 20,000. In the extranet environment, the company is pioneering the use of e-BI in applications that allow organizations to build stronger relationships by linking customers, partners, and suppliers via the internet. In addition, the company`s products can improve the performance of an e-business by providing reporting and analysis against the ever-expanding amount of transaction and profile data that is collected each day throughout the world wide web.
Founded in 1990, Business Objects pioneered the modern business intelligence industry by inventing and patenting a "semantic layer" that insulates users from the technical complexity of database systems. Today, the company has sold more than 1,442,000 licenses to 9,100 organizations in more than 80 countries. The company`s stock is publicly traded under the ticker symbols NASDAQ: BOBJ and PARIS BOURSE: code SICOVAM 12074. Business Objects can be reached at 408-953-6000 and www.businessobjects.com.