Can a technology’s architecture help drive economies of scale?
As the economy continues to improve, market experts are predicting a return to the
merger & acquisition boom similar to what we experienced from 2004 to 2007. As
usual, the main driving factor is growth. But it has to be growth that makes sense.
That means that companies will often look for synergies in their acquisitions that
allow them to merge corporate functions and/or specific operations in order to
achieve economies of scale. These economies create greater profit potential and
ultimately help companies achieve success.
Economies of scale can benefit companies in a number of areas, including
technology. But how can a solution’s architecture help companies achieve
economies of scale? The OPUS illustration solution from illustrate inc and its True
Engine Architecture can deliver economies of scale that generate long-term benefi ts
for their customers. With the True Engine Architecture, each company’s product
rules, calculations, business rules and rounding requirements are completely
separate from the product engines. This means that there truly is one engine for all
companies.
As technologies change and new devices permeate the market, insurance companies are looking to take advantage
of the new technologies and upgrade their solutions. In the past, this would mean that each company was looking
at a potential re-write of their illustration solution at significant cost, whether they stayed with their current vendor
or went to a new solution. Neither option was cost-effective. With True Engine Architecture, illustrate inc�s OPUS
Solution has the benefit of only having to convert a single instance of the engines in order to upgrade technologies.
Once the engines are upgraded, each client can choose to take advantage of the new upgrade on their schedule.
This means that rather than a re-write of their entire solution, the engine upgrade costs are spread across all clients,
and each client is simply responsible for testing the upgrade. As new customers come on board, the cost for future
upgrades becomes a fraction of what it would have been.
Focus on your core strengths
Stop re-inventing your illustration solution every 3 to 5 years and start focusing on your key strength of creating
new insurance products that generate revenue. By outsourcing your illustration solution to a solutions provider you
get great technology today. By outsourcing your solution to illustrate inc and our OPUS platform with True Engine
Architecture, you get best-of-breed technology today and peace of mind that your technology will deliver for years
to come.
About illustrate inc
illustrate inc is an industry leader in illustration and point-of-sale systems used in the insurance and financial service sectors throughout North America. illustrate inc has grown steadily over the past 20 years as a result of its hard focus on addressing industry need for efficiency, effectiveness and speed to market. For more information, please visit www.illustrateinc.com.
