100%

visibility & access to all
client policy documentation

Significant

reduction in costs through
increased productivity

100%

compliance with document
management regulations

“It was a burden to have to search through paper files for required
information, and staff say they love having everything available from their
browser and easy to find.”

Birgit Smith, Utmost Worldwide

Challenge

Document retention and compliant storage requirements are key challenges for the entire insurance industry. But for providers like Utmost, who manage client employee policies that can extend over decades, the sheer size of client files makes document processing, storage, and retrieval an even greater challenge. Utmost required an automated solution to handle the capture, storage, retrieval, and full lifecycle management of their large number of client documents.

Solution

SofCo’s SÄHKE2 and ISO 27001 certified Compliant Archive automates the business process surrounding client policy documentation. SoftCo’s outsource service captures and processes all Utmost documentation which is then stored in SoftCo Cloud’s ISO27001 Compliant Archive. The solution provides intelligent storage capabilities for multiple documents types (paper, email, PDF, XML, EDI etc.) and indexes and categorizes all of Utmost’s documents at the time of storage. Content Addressable Storage (CAS) technology ensures that documents are instantly available when required. Inherent lifecycle management ensures Utmost remain compliant with industry retention and disposal policies, including the option to digitally shred documents at the end of a defined lifecycle.

Results

SoftCo Compliant Archive provides Utmost with full visibility over all client policy documentation and swift access to all information via the SoftCo Cloud. They have removed their previous storage issues for their growing number of documents with the solution’s digital storage capabilities. Utmost has seen a reduction in costs through improved productivity and can ensure compliance with strict document management regulations, including retention and disposal policies.

Information

Industry:Insurance
Solution:Compliant Archive
Region:Europe
Employees10,000+
Documents:100,000+

Utmost Worldwide is one of the most significant players in the global insurance and financial products market. With global revenue of almost €70 billion, Utmost has consolidated its position among the world’s leading insurance operators, with significant market shares in western Europe – its main area of activity – and particularly in Germany, France, Austria, Spain, Switzerland, and Central and Eastern Europe. In recent years, the Group has also expanded into Asia, with offices now in China and India.

“With SoftCo Compliant Archive we have a system capable of
fully managing our document lifecycles, ensuring we always
meet compliance obligations.”

Birgit Smith, Utmost Worldwide

More case studies

“SoftCo ExpressAP enabled us to quickly gain control over our AP process, after switching to remote working.”
Mark Dinkin, Finance Director
“We now have better access to data with full visibility and control at every stage of the payment cycle.”
Daragh Grennan, Mediolanum
“Rather than just technically describe an issue, SoftCo knew what functional problems we had.”
Craig Eten, Sunny Delight
“We chose SoftCo to address our P2P requirements because of their proven expertise in the area.”
Paul Leonard, Enva
“SoftCo has fulfilled everything that we were looking for, and more.”
Brian Conneely, Finance Director
“With SoftCo Compliant Archive we have a system capable of fully managing our document lifecycles.”
Birgit Smith, Utmost Worldwide
“We have implemented a project that has progressed as planned and within the planned budget.”
Kati Siikonen, Palkeet
“SoftCo Procure-to-Pay has delivered a ROI within one year, helping in our global expansion.”
Jonathan Rockett, Ding
“With the SoftCo system, we’ve increased reimbursements and reduced costs – and that’s good for our bottom line.”
James Bowden, St Peters University Hospital
“Because staff act faster, we can pay suppliers faster and have better relationships with them.”
Jimmy McHugh, C&C Group
“SoftCoAP has delivered us direct savings, giving a lot more confidence in our year-end & a lot faster.”
Sean McNamara, HPC Group
“SoftCo P2P has allowed us to reduce invoice processing times by 70%, reducing costs and time.”
Jessica Burns, Daisy Corporate Services
“We have confidence in SoftCo, it allows us to bring a much more compelling proposition to our clients.”
Peadar Murphy, Capita
“The SoftCo platform has contributed to creating a frictionless process, saving considerable time and effort.”
Michael Ogazi, Crown Agents Bank
“SoftCo has transformed the authorization time from 3 or 4 weeks down to 3 or 4 days.”
Sharon Bessell, Argos
“Our goal is to reach a 90% automation rate with the procurement process and invoice handling.”
Pirjo Pöyhiä, Palkeet
“We chose SoftCo because of their expertise in the procure-to-pay areas and their prior experience.”
Mushtaque Ahmed, JJ Food
“The SoftCo AP system has been faultless, reducing our invoice query times by 75%.”
Mick Leahy, Dairygold

Why choose SoftCo?

100% Project Success

89% Cost Reduction

100% Visibility & Control

75% STP

Super Smart Matching

Anti-Fraud Technology

200+ ERP Systems

90% Faster Approvals