URS Systems-Spearheading your Business Progress through Innovative Technology

Technology is the truth of today’s era as everything grows with technology and the major benefit is that this technological support is available easily. Important is to find the right kind of help and solution at the right time because business is growing every second and this growth is going to take your name to another level only if you put the right kind of efforts to it. Business Intelligence Solution India is provided by the leaders of IT solutions. We understand the need of your business and the solutions are decided according to that.

Billing and Revenue Management Solutions India are easily available with the help of our expert team and our never ending efforts to provide the best to their customers. Established in 2010 we are dedicated in providing you the finest IT solutions that will help you grow and expand as a business leader. Every business has different requirements and according to that the solutions are provided to the people. All you need to do is follow their lead and get feasible solutions to all your complications. ERP Solution is also one of our major specializations.

URS technology group and consulting group play their individual roles which are different from each other. We have maintained a proper work ethic which makes us a better choice than any other IT group. Network Fault Management Solutions India is provided for companies who want to get their networks corrected and managed properly. Also, the Network Performance Management Solution India is managed for their valuable clients. They understand the value of timely and proper services that is why they are dedicated in providing both.

Customer Experience Management Services Company like URS System has gained the confidence of its customers with its valuable services. All the services are designed according to the needs of the clients and once they are approved they work on improving them every second so as to provide better results. Being the Value Added Services Company in India URS System has always given quality services to its clients. IT is a never ending field and every sector uses this particular field as it simplifies the day to day official working. For that matter URS System will do their best to give you excellent support and to help you climb the ladder of success. 

Visit us at www.urssystems.com.

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Business Intelligence (BI) strategy has to be based on current "REALITY": Explore the Value of BI in INSURANCE

Building a BI strategy has to be focused on something other than developing the perfect data warehouse. In the most basic terms, if you already have the data, then how will combining that data help you do something new? It might cost less money when it is consolidated, but the cost of consolidation is significant and the cost of maintaining this degree of consolidation is also high. 

Any BI strategy has to be based on current reality. Many companies strive at considerable cost to develop an all-encompassing data warehouse, only to find that as fast as they integrate applications, the landscape changes and they have to change the model. Insurance companies are particularly vulnerable to this problem since sales, service, underwriting, and claims often develop and deliver new applications in isolation from each other.  

Developing and delivering an approach to BI can drive business improvement and benefits realization, and highlight the significance of IT.

The obvious key to all business intelligence (BI) strategies is data. Having said this, perfect data is not required to derive significant value from what exists at any given point in time. It is a simple fact that all insurers generate copious volumes of reporting. It may be poorly structured and little used, but it reflects the fact that a high volume of existing information is held in structured fields and that someone, at some point, has developed an extract to develop a report.

Before delving into approaches, it is worth remembering that insurance-related BI is not as complex as some would have you believe, and it can be broken into five areas that can quickly create business benefit if sufficient transparency can be generated. They are:

1. Reducing expense costs
2. Reducing the average cost of claim
3. Reducing claims frequency
4. Increasing profitable sales
5. Improving customer retention (for those customers you want to retain)
6. Collectively, they drive profitable growth.

Clearly, the list does not cover every aspect of insurance. Everyone has a favorite corner of the insurance universe to explore. The items do represent those areas where the money is spent and where improvements can reduce combined ratios and drive profitable growth. If your BI cannot be tied back to one of the above areas in a clear line of progression, then it is information for information’s sake and adds no value to the business. This is not to say that the information is the wrong thing to gather -- rather, it is the fact that it is not being used effectively. This becomes something to be fixed.

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Business Excellence, Innovation is necessary and there is no Innovation without risk.

BI has been one of the most important business initiatives providing positive impact on the health of organizations. Usually, questions are raised on the maturity of the BI initiative and the technology backbone to yield business benefits. And after getting the desired benefits from the BI initiative, the obvious question has been “What next?”.

For more than two decades, organizations have been leveraging Business Intelligence (BI) platforms with the sole objective of ‘management by facts’ for business benefits. Traditionally, BI platforms have been spanning across Information Integration (e.g. ETL, EAI/ESB, CDC), Information Storage (e.g. Data Warehouse, Cubes, Metadata) and Information Analytics (e.g. Enterprise Reports, OLAP Reports, Dashboards and Data Mining) components. Over this period, the landscape of BI has changed with the touch of business integration and innovation. And this change is not just limited to the corporate world.

In the current dynamic market, the rate of change is faster than yesterday and what we do today may not be relevant tomorrow. E.g. change in the landline tariff didn’t happen for more than a decade, but mobile tariff and service plans are changing on an almost quarterly basis. To survive and grow in the vibrant market space, every organization is facing outrageous competition, business convergence, demand for profitable growth and intense pressure on cost. Organizations are becoming innovative in their approach to make business truly performance driven at Strategic, Tactical as well as Operational levels.

For business excellence, innovation is necessary and there is no innovation without risk. Hence for better performance, it is necessary to minimize the area outside the area under control i.e. the Risk Area. Precision in predicting risk (e.g. credit risk, market risk, operational risk) with BI provides the advantage of having more Capital available for operations as well as innovation e.g. Regulatory Authorities relax the Cash Reserve requirement, if predictions in Risk Management are consistently well under the threshold.

In spite of availability of advanced BI technologies in the market, most companies are still struggling to get the BI foundation right i.e. to set up an Enterprise Data Warehouse and governance and get reports and dashboards. Once the right foundation is set for BI, adoption of the new technologies and the path towards  institutionalization of innovation can be laid out. In the vibrant market space, the BI Program can provide a path to Certainty in Experience, while continuing the journey towards perfection. We always need to remember that it is a journey and not a destination!

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