SDT Financial Software Solutions has been appointed as an associate member of the Association for Cooperative Operations Research and Development (ACORD), the global insurance standards organisation.
Headquartered in New York, ACORD is a non-profit insurance association focused on facilitating and enhancing the development and use of standards for the insurance, reinsurance and related financial services industries. To accomplish its mission, ACORD acts as an independent advocate for sharing information among diverse platforms.
Companies adopting ACORD standards and services are able to substantially improve their efficiency and expand their market reach. Currently, hundreds of insurance and reinsurance companies, agents and brokers, and related financial services corporations, software providers and industry organisations worldwide are associated with ACORD.
"Our associate membership in ACORD will allow us to continue enhancing our products and services to ensure they evolve in accordance with global developments and standards," says Freda du Toit, director of SDT. "As South African companies play a larger role in the international marketplace, they need to ensure they are able to communicate with other players in the financial services market as well as partners and clients. It is therefore important for local companies looking across our borders to conform to the ACORD standards and ensure they are on the same playing field as international business leaders."
"The association and our members continue to advocate the development and implementation of ACORD data standards around the globe," says Denise Garth, VP Membership and Development at ACORD. "In our interconnected world, it is more essential than ever that companies are able to communicate quickly, efficiently and cost-effectively, and this is where ACORD data standards come in to play."
By keeping all its software solutions and services aligned to these international standards, SDT will be able to offer world-class services to clients in South and southern Africa with the assurance that customers will be able to implement any solutions from any service provider that also conform to ACORD standards. It will also be easier for SDT to offer its services and improve the flow of information and the performance of its clients' business processes without holding up the project while data is examined and changed to a preferred format.
"We are happy to have SDT become a member of ACORD and help further demonstrate the importance of ACORD standards around the world through their solutions," adds Garth.
"SDT has always focused on leading the field in serving the financial services industry and ensuring customers can cut costs while increasing productivity and process efficiency," says Du Toit. "Our membership of ACORD will serve to enhance our offerings and our customers' businesses in accordance with internationally accepted standards."
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SDT provides world-class business solutions for financial services administration, with particular emphasis on life insurance, pensions and employee benefits. The company is a strategic supplier to more than 20 clients in many countries, across two continents.
SDT develops and implements innovative systems, models and processes to satisfy the growing needs of the financial services sector. This empowers its clients to respond to the challenges of this fast-changing sector, enabling them to substantially reduce operating and administrative costs without compromising on product innovation, competitiveness or service quality.
The company is a Microsoft Certified Partner and all its systems are based on Microsoft's development and operating environments. SDT transforms its clients' aspirations into reality, whether they are start-up organisations looking for guidance to enter the industry with minimal risk, or established players wanting to realise the inherent potential of their organisation.
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