MISSISSAUGA, Ontario, June 27, 2019 (GLOBE NEWSWIRE) -- Prophix Software, a global leader in Corporate Performance Management (CPM) software, is pleased to announce they have joined Vertafore’s Orange Partner Program to deliver immediate process improvement, cost savings and strong bottom line impact for Vertafore customers. Vertafore is the leader in integrated software for independent insurance agencies and brokers, MGAs and carriers. Both companies bring innovation to the insurance industry, delivering immediate and measurable customer value.

“My team is really looking forward to having Vertafore partner closely with Prophix to better serve their joint users,” said Jake Shafer, The Partners Group Chief Financial Officer. “As competition continues to increase in the insurance brokerage industry, finance teams are being asked to perform more detailed forecasting beyond just budgeting. Prophix is a great tool to streamline that piece, and the better connection with Vertafore’s AMS360 product, the better detail and accuracy we will be able to deliver.”

Prophix’s CPM software automates financial budgeting, reporting and forecasting processes, streamlining key workflows for insurance organizations. Prophix software integrates with data from Vertafore’s Sagitta® and AMS 360® Agency Management Systems, as well as more than 200 other data sources to give users improved financial reporting and visibility. Combining the power of Prophix and Vertafore solutions will allow joint customers to:

  • Automate the collection and organization of data from multiple sources
  • Drive powerful collaboration between users in the budgeting and forecasting process
  • Aggregate data from multiple sources to forecast and report across departments, lines of business, customers, agencies and more
  • Develop and analyze cash flow forecasts spanning business entities, departments and previous periods
  • Quickly develop “what if” planning scenarios across the business
  • Dashboard to detail capabilities to enable users with directly relevant information

“We’re excited to partner with Prophix,” said Doug Mohr, Vertafore’s Vice President, Industry Relations & Partnerships. “For over 30 years they have solely focused on providing forecasting, budgeting and financial analysis solutions. We know how critical and time consuming it can be for our customers to budget and analyze financial performance. This partnership is a great example of how the Orange Partner Program provides great solutions to our customers through leading-edge technology.”

The combination of Prophix’s software automation with Vertafore’s suite of solutions will enable users to improve their daily financial tasks, allowing more time to work on building solutions for the future.

“With Prophix and Vertafore, the insurance industry now has a suite of powerful tools for finance to better manage the day-to-day and stay focused on planning and achieving their long-term strategic goals,” said Anita McArter, Vice President of Channels at Prophix. “We are thrilled to partner with Vertafore and join the Orange Partner Program.”

About Vertafore

For over 50 years, Vertafore, the leader in modern insurance technology, has built and supported superior InsurTech solutions to connect every point of the distribution channel. Vertafore's agency management, ratings, regulation, compliance, and connectivity products streamline workflows, improve efficiency and drive productivity for more North American insurance professionals than any other provider—including more than 20,000 agencies, over 1,000 carriers and 23 state governments. Through a continual focus on operational excellence, development of innovative solutions, and alignment with key industry partners, Vertafore is leading the way for customers of all sizes by delivering results that make a difference. For more information about Vertafore, visit www.vertafore.com.

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About Prophix Software

Your business is evolving. Your systems should evolve too. Achieve your goals more successfully with Prophix’s innovative Corporate Performance Management (CPM) software. Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters. Budget, plan, consolidate and report automatically. Whether in the cloud or on-premise, Prophix supports your future with a platform that flexes to suit your strategic realities, today and tomorrow.

Contact
Rachel Douglas
Senior Manager, Marketing & Brand
Prophix Software Inc
rdouglas@Prophix.com
905-279-8711 x502

Vertafore Contact

Alexea Candreva
SSPR
719-475-0370
Vertafore@sspr.com