MCI Consultants, historically the primary supplier of information systems to Sasfin Frankel Pollak Securities, today announced that it had developed and successfully installed CommCIS, a Web-based insurance broker commission system, into Sasfin`s Financial Planning Business.
The CommCIS system, which satisfies and/or conforms to the new Financial Intermediary Services Acts, is now being rolled-out to all its branches nationwide.
"The original system we were using had severe limitations and we were unsuccessful in our search for an `off-the-shelf` package," commented Louis Horwitz of Sasfin. "Thus, we commissioned MCI Consultants, with whom we had worked for several years, to design, develop and implement a completely new system for us that would meet our requirements; the new and proposed legislation to which we had to conform; yet be sufficiently flexible to allow for future enhancements. Obviously, compliance with the relevant legislation was also a key issue since the costs associated with `non-compliance` are potentially punitive.
"The new system has proved to be a very powerful control system with some impressive functionality that includes remote access to a central database via the Internet, multiple-processing capabilities and full integration with our commercial accounting system," continued Horwitz. "There is no doubt that it has fuelled our growth through a reduction in our administration costs that in turn has been coupled with a productivity increase."
"We utilised our Rapid Application Development (RAD) skills to create CommCIS, a decision we saw as key if we were to effectively manage any on-going changes, maintenance or support that was required," added Aliki Droussiotis, Director at MCI Consultants. "We know that our resultant real-time system is unique in the local market and is currently being appraised by several other financial institutions."
CommCIS is a complete multi-user Web-based commission management system designed to assist brokers with their information management, follow up, commission calculation and management of future and existing insurance and investment business.
Having a Web-based system means that any broker or sub-agent can, at any time, from anywhere in the world, capture prospective business and check his/her commissions, current and future. Additionally, management can access online, up-to-date management information at any time.
For further information, please contact Aliki Droussiotis, MCI: telephone (011) 454 3420, fax (011) 454 3417, e-mail aliki@mci.co.za
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MCI Consultants is a South African-based business information systems consulting firm specialising in providing software solutions to the business community, specifically to the financial services and personnel recruitment industries.
It offers a complete solution, which can include project management, consulting services, installation, training and support, packaged software implementations, product development including e-commerce solutions, hardware supply, installation and design services.
Its approach is to continuously provide solutions to meet clients` changing requirements. The company prides itself on delivering excellent customer service and building long-lasting partnerships with clients.
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