MAPFRE Argentina meets their global business requirements with the right technology partner

“The main reasons we chose the Infor solution was its swift integration to the other applications existing in the company, its ease of use, and low total cost of ownership”
-Aldo Canton, Accounting and Tax Manager, MAPFRE

MAPFRE ARGENTINA, one of the leading insurance companies in Argentina, provides national coverage through 330 centers, with 2,000 employees and 2,900 consultants. According to Argentina national rankings, MAPFRE is the number one insurance company, outside of the life insurance market place.

The company is part of Grupo MAPFRE, which was founded in Spain in 1933. Grupo MAPFRE activities are mainly insurance and reinsurance in 39 countries. Total corporate revenue was 13,583 € in 2006, a growth of 9 percent over the previous year.

MAPFRE needed to improve the financial processes that supported its growing network of more than 300 insurance offices in Argentina. In a little more than five years, the company had grown 400 percent, increasing its number of employees from 400 to 2,000. As part of the expansion, the company had incorporated new companies into the group, including MAPFRE Health and prepaid medicine. The new solution would need to be capable of managing all financial processes for each business unit, using a shared database that users in different parts of the company could access in accordance with their profile and needs. The solution also enables MAPFRE to more easily manage local and corporate accounting processes by giving more users in finance, human resources, and other departments access to the financial-related data necessary to do their jobs efficiently. The multi-company management capabilities and simple integration with other MAPFRE third-party applications also contribute to the value of the solution. For MAPFRE, the bottom line is that Infor FMS SunSystems is enabling the company to manage a much larger enterprise, more effectively and without resorting to significant additions in headcount.

MAPFRE chose to implement Infor™ FMS SunSystems because the solution enabled the company to integrate and streamline financial resource processes throughout the company. Infor FMS SunSystems gives MAPFRE a reliable, apples-to-apples view of financial performance across the entire enterprise as well as the flexibility and control necessary for adapting to the demands of even the most challenging business environment.

"We are convinced that our choice of Infor FMS was the right one in terms of the scalability and flexibility we needed to support our growth and meet the precise requirements of our sector," says Aldo Canton, accounting and tax manager for MAPFRE. "The main reasons we chose the Infor solution were its swift integration to the other applications existing in the company, its ease of use, and low cost of ownership. With the assistance of Infor, we have developed interface programs that enable us to link Infor FMS SunSystems with several of our applications, on the principle of a shared database that managers have access to in real time, which was one of the critical issues we faced."

MAPFRE's latest expansion of their implementation is Infor PM EIF Studio, a database connector which enables MAPFRE to extract information from its insurance policy system in order to create custom reports.

The implementation of Infor FMS SunSystems has provided a wide range of tangible business benefits for MAPFRE. The company is using Infor FMS SunSystems to generate highly analytical information in real time, making it possible for MAPFRE to prepare higher quality financial reports in less time. "The results of the Infor implementation have been very positive for MAPFRE," adds Canton. "Now, we can close monthly accounting operations in just two days and with fewer errors than before, thanks to the alerts and rules provided by the software. The time to run quarterly reports has been cut in half, and data is more reliable."

Infor™ FMS SunSystems, a proven solution for the insurance industry, has more than 20 years of built-in experience and is used by hundreds of insurance customers around the world. This powerful, easy-to-use solution has multi-language, currency, and reporting capabilities that facilitate global business. Infor FMS SunSystems helps businesses meet international financial reporting standards (IFRS) and generally accepted accounting principles (GAAP), as well as management reporting, local statutory reporting, and other reporting requirements. In addition, Infor has over 110 offices in more than 30 countries, an extensive partner network, and 24x7 global customer support to facilitate business anytime, anywhere.

To learn more: infor.com/insurance

Call Phyllis Jadosh, our insurance industry specialist, at 330-624-0242, or email Phyllis.jadosh@infor.com, and she'll help you capitalize on this opportunity.

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