ABC
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From the publisher website or publicity Overview ABC (Accounting, Budget and Cost) is a centralized financial management system, providing general ledger, budget, cost allocation and statutory reporting functionality. The Accounting, Budget and Cost system is one of the most widely used general ledger systems in the insurance industry. Insurers prefer ABC because it was developed to meet their unique requirements. ABC provides all the capabilities your company may need. For the ability to perform necessary insurance financial functions, ABC is without peer. Tasks that once seemed costly and difficult are now practical, such as:
Interfaces with Other Systems The user controlled "Rearrange" feature automatically reformats information from feeder systems into ABC's format. And, an automatic interface with SunGard's CDS (Cash Disbursement System) provides complete, centralized control of all disbursements, including 1099 and abandoned property tracking. ABC accommodates virtually any type of input record. Moreover, there's no need to change record formats. With the Rearrange feature, you simply define input record formats, and ABC will read the defined format. The Rearrange feature eliminates the need to write multiple system interfaces before you can begin to realize the benefits of ABC. For feeder systems that will continue to be used, the Rearrange feature can be the permanent link to ABC. The Rearrange feature also streamlines system implementation by efficiently feeding historical data into ABC. Reporting ABC is delivered with a complete state-of-the-art, online report management system that is designed specifically for accounting personnel without technical skills. With limited instruction accountants can produce reports with headings, footers, columns, totals and subtotals. Moreover, users can selectively include or exclude data from reports according to chosen parameters and manipulate the data with basic and more advanced mathematical functions. In addition, ABC includes over 70 pre-defined standard reports. These reports give users many run-time options and selection capabilities. The ready-to-use standard reports include extensive audit trails, trial balances, budget variances, cost allocation reports, and many more. Regulatory Reporting ABC's reporting capabilities are designed to specifically handle statutory reporting requirements of the financial exhibits for the quarterly and annual Property and Casualty, Life and Health, as well as the Hospital, Medical, Dental and Indemnity formats. General accounting information from ABC can be transferred to personal computer annual statement packages to comply with stat NAIC diskette filing requirements. ABC's statutory reporting interface eliminates the need for manual entry, ensures accuracy, provides full audit trails, and greatly reduces the time and effort associated with annual statement preparation. In addition to preparing ABC's statutory reports, ABC's report management system is extremely valuable for producing user-defined reports such as Summary of Operations and Cash Flow reports. Up to 15 levels of company consolidation are allowed, with no requirement for common account structures. Extensive budget center consolidation capabilities are also available. |
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Vendor: Sungard |
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