The FREEDOM Group Introduces High-Performance Financial Systems for Larger Insurance Enterprises
Freedom Group, a unit of FISERV, Inc. (NASDAQ: FISV), introduced the FREEDOM Financial Series-Enterprise, a powerful set of financial applications designed to meet the processing needs of insurance companies with higher transaction volumes.
Larry J. Kane, President of The FREEDOM Group, said FFS-Enterprise is a response to changing market conditions.
"As the insurance industry changes, it's our job as a solutions partner to ensure that our back-office accounting applications bring our clients the speed and flexibility of new technology," Kane said.
"The FREEDOM Financial Series-Enterprise provides best-of-class functionality and technology, along with quick implementation - all at low cost of ownership."
The architecture of FREEDOM Financial Series-Enterprise responds to changing business conditions through a multi-tier, client/server business model. The object-oriented, component-based design allows the system to process efficiently, expand rapidly with business growth and encompass the benefits of new technologies faster than ever before.
There are two modules:
• FFS-Enterprise General Ledger is based on a user-defined account structure of up to 60 positions, allowing insurers to build report logic right into the system. Ledgers and adjusting ledgers can be consolidated automatically in any combination to produce cash, statutory and GAAP results for insurance-specific reporting requirements.
FFS-Enterprise General Ledger supports multiple companies, which can be consolidated despite varying account structures, calendars and currencies.
• FFS-Enterprise Accounts Payable provides tools to manage and track vendors, invoices, cash disbursements and employee expenses. The system supports both centralized and decentralized accounts payable processing.
FREEDOM Financial Series-Enterprise is compatible with other leading FREEDOM Group products, such as Check-EZE MICR Check Printing, Policy STAR, Claims Workstation, Annual Statement 2000, Reinsurance and TRACKER Unclaimed Property System.
The FREEDOM Group specializes in the development of insurance-specific systems and other financial industry applications.
Founded in 1986, The FREEDOM Group also offers professional consulting services to assist clients in optimizing FREEDOM software performance and backs the products with responsive, toll-free customer support for a client base in excess of 2,000 companies. The company's Web site, at www.freedomgroup.com, has more information.
Fiserv, Inc. (NASDAQ: FISV) is an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 10,000 financial services providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at www.fiserv.com.
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CONTACT: The FREEDOM Group
David Chase, 800/373-3366
dchase@freedomgroup.com
or
Fiserv, Inc.
Kevin Kasper, 262/879-5129
kevin.kasper@fiserv.com