Can Claims Management Systems Software Really Give Firms an Edge?
Firms can do more, with less, by using claims management systems software.
It is safe to say that almost all small and medium-sized businesses use some kind of automation and software to run their operations. In our digital business world, if even the smallest of companies does not have a website and email address, they might not be around for long. But how many businesses make the leap to utilising specialist workflow software to give them an edge and move them far beyond the competition?
Our expertise here at Logican in dealing with various business sectors tells us not every company is willing to consider changes. This is especially true when it comes to handing over the reins to a computer program — however powerful and advantageous — and it includes claims firms and claims management systems software. As our founding managing director, Yaakov Smith, says in an interview this month, mostly it’s down to a worry that people will lose control of the businesses they themselves established — but they’re also concerned about costs.
“Some people feel that the cost in terms of financial and human resources will not justify the benefit. There’s often also fear of the unknown, a reluctance to change their working practices from the status quo,” he told the business website Insights for Professionals.
Examining Workflow Management Software
“I would recommend that they conduct a study to quantify the costs and benefits of implementing a system to automate their business process. It’s also worth bearing in mind that it does not have to be ‘all or nothing’”, Yaakov said. “It’s often worth focusing exclusively on parts of the business that would benefit most from automation. If this is successful, the system can be extended to cover other parts of the business.”
The whole purpose of tools such as claims management systems software is, after all, to make operations much more efficient. In effect, claims firms that use such products are able to handle far more work than they could manually. That is, unless they hired many more people to deal with rising caseloads — an expensive prospect and one that mostly likely would not make financial sense.
Once implemented, relevant personnel can easily understand and use claims management systems software and start using it to process claims. The entire procedure is automated and essential tools and apps, such as email programs, can instantly be added to the software. And as no two claims firms are the same and each have their own way of working, this revenue-boosting software is configurable to their requirements.
Low Costs for Claims Management Systems Software
As to concerns over the costs of workflow management software, the financial outlay can really be quite low for a business. For an investment of just several hundred pounds, a firm can have claims management systems software and other such workflow programs installed on their computers and ready to use.
There may also be a licensing fee, which again is eminently affordable for even a small business. It is calculated based on the number of people using the software. For our claims management systems software product, LogiClaim, clients can pay monthly or annually, with a discount amounting to two months’ usage applicable to the latter.
As one part of our business is dedicated to providing sophisticated software to claims management firms, we know that our clients in this industry could not handle their usually large volumes of caseloads without our claims management systems software. This is particularly true with payment protection insurance (PPI) claims, where many millions of claims have been made via claims firms and there are a lot more on the way. We are proud to help facilitate all of this beneficial work, for our clients and their customers.