StreamServe Financial Services™ Extends SAP Business Processes with Integrated Document Processing and High-volume Printing
BURLINGTON, MA USA – November 12, 2007 – StreamServe® Inc., a global leader in document processing and Dynamic Enterprise Publishing solutions, today announced the release of StreamServe Financial Services designed for use with the SAP® for Insurance solution portfolio. The solution is the third product to be endorsed by SAP, following endorsements of StreamServe Financial Services™ designed for use with the SAP® for Banking solution portfolio, and StreamServe Utilities™ designed for use with the SAP® for Utilities solution portfolio.
StreamServe Financial Services is integrated with SAP for Insurance to deliver high-impact results when used with insurance applications such as SAP Claims Management and SAP Collection and Disbursements for Insurance. The solution extends the value of SAP for Insurance with high-volume document extraction, assembly, consolidation, and delivery. Bottom-line results include enhanced efficiency, profitability, and customer satisfaction.
By combining SAP business processes with StreamServe document process capabilities insurance organizations gain added management and control over their documents at every stage of a process. As a result, organizations can enhance customer communications by providing personalized and dynamic claim updates delivered through notifications, adjustments, and payment documents.
“Insurance organizations are under tremendous pressure to deliver increased value to customers in an increasingly competitive industry,” said Chris Stone, president and CEO of StreamServe, Inc. “Given that the claims function alone accounts for between 75 and 90 percent of total administrative costs within the insurance industry, our solution allows companies to reap tremendous savings while enabling the presentment of unified communications that demonstrate value to customers and partners.”
Designed to provide streamlined customer communications, StreamServe Financial Services enables the delivery of documents in any format, through any channel such as print or electronic media according to customer specifications while enabling the consolidation of multiple customer documents into single mailings. For example, claims summary documents typically mailed individually each time a claimant activity occurs can be consolidated into a summary document, or collated, sorted and distributed via a single envelope.
“We are pleased to endorse another solution in StreamServe’s Financial Services line, which will benefit our customers in the insurance industry,” said Leo Schneider, senior vice president, Insurance Industry Business Unit, SAP. “SAP for Insurance enables insurers to leverage existing intelligence data in claims, billing, vendor management and underwriting to maximize their business advantage and ensure consistent customer satisfaction while providing the ability to innovate and prepare for future challenges. Used together with StreamServe’s latest SAP-endorsed business solution, we can improve efficiency, profitability and customer loyalty for our customers in the insurance industry.”
SAP-endorsed business solutions are complementary to SAP software offerings, developed in accordance with SAP development guidelines, and provide additional capabilities and flexibility for businesses running SAP solutions. StreamServe integrates customer communications capabilities within the framework of the SAP NetWeaver® platform.
“Insurance companies are faced with increasing pressure to improve their sales, underwriting, claims and customer service processes in order to be competitive and sustain profitable growth,” said Kimberly Harris-Ferrante, research vice president at Gartner, Inc. “Focus on streamlining and automating process is a critical success factor in both the North American and European marketplaces. Insurers taking this approach will find multiple benefits including faster transaction processing, improved customer satisfaction, improved productivity of employees and agents, and reduced processing costs.”
About StreamServe, Inc.
StreamServe document processing and Dynamic Enterprise Publishing solutions enable world-class organizations to streamline, consolidate, personalize and dynamically deliver customer communications in any format through any channel. StreamServe allows organizations to deepen brand-awareness, while providing marketers with flexible, efficient channels for ongoing communications and targeted offers that lead to cross-sell and up-sell opportunities. StreamServe customers realize additional revenue gains and business process efficiencies as a result of StreamServe’s open architecture design which enables seamless integration with existing enterprise systems and archival systems. More than 4,600 customers in 130 countries use StreamServe solutions, including leading insurance organizations such as Agis Insurance, AOK, and CZ Insurance. StreamServe is headquartered in Burlington, MA with 15 offices worldwide.
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StreamServe™, the StreamServe logo, StreamServe EDP, StreamServe Persuasion™, “A Leader in Dynamic Enterprise Publishing” and “How Does Your Company Present Itself?” are all trademarks of StreamServe, Inc. SAP, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other marks are the property of their respective holders. © StreamServe, Inc. 2007.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
PR Contact:
StreamServe, Inc.
Kim Robinson
[email protected]
781-761-6659
