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Prelude's Insights on Outbound Payments Blog

Transaction pricing model makes payment processing frictionless

PayPilot® and its transaction pricing model make outbound payment processing frictionless

As a financial controller, a big part of my responsibility is to be financially prudent and perpetually qualifying my decisions with a fair and reasonable ROI in the best interest for my company and its stakeholders. This vetting process is the recipe for success of all seasoned professionals and at ARI Mutual Insurance we truly know a good thing when we see it because we have the numbers to back it up, and the numbers do not lie. 

No more big IT budgets

However, if there is a constant that we all deal with, it is the constant of “change”.  There is always a new variable. Whether it is a compliance issue, a competitive threat, a new process to our workflows, etc., we need to have the flexibility to be purposely pro-active and appropriately reactive. In the world of insurance, and more specifically insurance IT, it is very difficult to be flexible.  Many systems are hard coded behemoths that are more similar to trying to turn a tractor-trailer in a single space than a mini-cooper in an open lot.  It seems leagues of IT staff, huge budgets and long-tail development and implementation times have stifled many of my peers in the industry from filling the features and functionality gaps in their processing.  What may be perceived to a business user or financial professional as a simple request can often grow into enormous magnitude when put through the IT gauntlet.

This friction-filled quandary often led me and my colleagues to dismiss opportunities for process improvements on the near-term because it would be too costly.  And, then there is Prelude Software.

Prelude Best Value

We have had the fortunate opportunity to be a client of Prelude Software since 2003. We rely on Prelude’s PayPilot software to be our disbursement hub and act as our system of record for all of our outbound payments. To be clear, this is an integral part of our infrastructure that has allowed us to compete with and perform like the biggest in our market. PayPilot provides the flexibility that we need to add payment types and payment methods and ancillary related processing on demand.

PayPilot has been tremendous in allowing us to scale and morph our IT processing. We have gone from outsourced IT infrastructure to in-house. PayPilot has even allowed us to extend the lifecycle of our core systems. It fills the feature and functionality gaps of our core systems. 

Most recently, we implemented core system changes and put in InsureSoft's Diamond Suite for Claims and Policy. The changes were seamless for our business people related to outbound payments.  

The key benefits are as easy as 1-2-3 to everyone involved with IT and Finance. 

1. First and foremost, Prelude is fluent in insurance and payment processing. 

2. Equally important, they understand the need to be flexible and on-the-ready. Prelude offers a “pay-as-you-use” software license model that has been brilliant for us.

    • We no longer pay ala carte for modules and enhancements that would allow us to react and scale. Everything is included. All of our user licenses, our maintenance and support and all of PayPilot’s modules. We want it, we get it. No more going back to build a CBA to justify the next request for necessary enhancement to react to the marketplace.

3. Prelude does all of the heavy IT lifting too, meaning they do all of the mapping to our core systems, our 3rd party systems and our banking relationships.  Along with self-services capabilities built into the solution, we have a dedicated account rep and a Prelude IT staff that quickly responds to our request for enhancements and configuration. 

One of the reasons ARI Mutual Insurance is formidably competitive and nimble is because we are savvy to know the power of a disbursement solution and the pay-as-you-use pricing model. Our PayPilot processing solution scales, is evergreen and affords us the flexibility we need to be the best in our marketplace.

PayPilot’s pricing model allows us to focus on making the process better instead of spending our time creating budgets and justifying our need for an improvement to our workflows. PayPilot truly makes our requests for additional processing frictionless!

Guest Blogger for Prelude Software

Michele K. Martin
Assistant Vice President & Controller
ARI Mutual Insurance Company

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