Johannesburg, 16 Apr 2013
SilverBridge, a provider of software solutions to the financial services industry, has entered into a product partner agreement with Wellnicity to strengthen and extend its Exergy solution with business intelligence capabilities.
Business intelligence (BI) refers to a broad category of applications and technologies that provide answers to business questions by translating huge volumes of data to insight. BI allows management to measure their key operations and mine existing data for hidden patterns, thereby identifying business improvement opportunities and threats.
"Wellnicity, founded by actuaries George Marx and Anton Gerber, are experienced life assurance and BI consultants, and understand the needs of our clients. Wellnicity provides us with the practical expertise needed to offer existing and potential clients innovative management information and decision support solutions, which in turn complement our core operational solutions," says Gawie Erasmus, Partner Programme Executive at SilverBridge.
Anton Gerber, Managing Director at Wellnicity, is equally excited about the partnership and what it offers both companies and the market. "It is a significant opportunity for us to join forces with an established solution provider such as SilverBridge. This partnership enables us to jointly provide a customer with the means to leverage valuable operational data in new and existing ways," says Gerber.
Erasmus adds: "Our collective life assurance experiences, as well as knowledge of the Exergy data structures and configuration, have allowed Wellnicity to develop a predefined BI solution which will assist clients to acquire valuable insight from the data within their databases almost immediately.
"In our analysis, most traditional BI implementations fail either due to the excessive cost thereof or because results are not immediately visible, causing a lack of business buy-in. By pre-building a solution based on the data structure within Exergy and applying best practice requirements of life assurers in general, we can deliver sooner and reduce these risks substantially."
"Improving operational efficiency and revenue-generating potential are key for any business. A company's existing data holds the key to unlock both. Our technology makes it easy for users to explore business data visually in real-time, giving a vast benefit over traditional methods which are based on generating static reports or mining raw data listings," says Gerber.
"In addition, Wellnicity's framework also makes it possible for them to consolidate other data outside of Exergy. By integrating data from multiple sources such as legacy systems, call centres, Web logs, payroll and HR systems, project management and financial data, Wellnicity can provide customers with a complete picture of all aspects of their business. Data volumes in the life assurance industry, as elsewhere, are growing exponentially and are not going to slow down. To date, a business' ability to analyse data and extract knowledge has lagged behind this growth curve significantly. Our innovative approach and use of technology is changing that," concludes Gerber.
SilverBridge will be able to offer the BI feature set to existing Exergy clients immediately, and will include BI as part of an even more complete administration solution to new clients in the financial services industry.
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