Microsoft technology, an asset for Prefundingtools.com

Prefundingtools.com is a new locally developed business-to-business (B2B) site built on a Microsoft platform. The Application Service Provider (ASP) is aimed at providing the financial and insurance communities with an effective tool that will enable actuaries to easily perform complex calculations and formulas as well as accurate scenario planning. With the introduction of the AC116, a revised accounting standard, to the South African market, approximately R20-billion of health care obligations will have to be evaluated and reflected on balance sheets around the country from January 2001.

The Web site interprets and analyses data as it is entered into Prefundingtools.com`s online formula-template, instantly reflecting the financial implications of the data for the specific customer. The immediacy and accuracy of the calculations, allows analysts the opportunity to focus on the interpretation of the results and not the actual calculations. "The aim of Prefundingtools.com is to support the actuarial and financial services community by alleviating the complexity and time intensity of actuarial and risk modelling calculations when preparing a company`s balance sheet," says Andrew Dawson, co-founder and managing director of Prefundingtools.com.

In keeping with current technology developments, the Web site employs Microsoft`s Windows 2000 platform for its reliability and ease-of-use benefits, and Microsoft`s SQL Server 2000 database, making it easier for users to integrate with the Web site and e-commerce architecture. "The nature of the site does not allow for imperfections in the technology platform, and this is why we chose Microsoft as a technology partner," says site developer, Petr Havlik, operations director at Webshack. "Microsoft`s products are geared-up for electronic commerce with new enhancements such as XML support, easy and secure access to data via the Web and the ability to do Web-based analysis. By implementing these products now, we are able to prepare for future Microsoft .NET platform deployments."

December 2000 saw actuaries seeking a digital alternative to manually calculating the complex formulas, taking advantage of Prefundingtools.com`s technical expertise by purchasing a licence allowing them access to the site. Implementing a two-pronged approach, the site will be expanding its services through the introduction of an online community site, Prefunding.com. Licences vary in price depending on the requirements.

Hot on the heels of its South African launch, Prefundingtools.com plans to expand its services to international markets by kicking off in Chicago during July 2001. Licences will be developed around the needs of the marketplace per region and introduced accordingly. Back home, new initiatives to follow the site`s original launch offering to South African analysts, is `Prefunding for the individual` and `Prefunding for AIDS`. "We have a huge amount of respect for players in the consulting arena and fully appreciate the time intensity of their jobs," says Dawson. "Prefundingtools.com`s aim is to provide solutions, and time saving devices to some of the complexities incurred by consultants on a daily basis." "With the introduction of sites such as Prefundingtools.com, South Africans are beginning to experience the real benefits of e-commerce by being able to access e-enabled business tools online," says Claire Bent partner manager at Microsoft South Africa. "The site is a prime example of a New economy business offering services and products to the marketplace by using the agility of the Internet and Internet-enabled products, to realise significant business efficiencies."