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Expanding insurance group PIB chooses Aqilla to support cloud strategy

8th Feb 2018
Brought to you by
Aquilla_highres

A Cloud-based ERP solution for mid-market organisations

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Expanding insurance group PIB, chooses Aqilla to support cloud strategy whilst standardising systems and increasing speed of deployment when new businesses join the group. 

Aqilla, providers of a cloud accounting software solution which delivers all the features and tools required by today's successful finance professional, is pleased to announce a new case study for one of its customers: PIB.

Insurance group PIB was formed in 2014. By 2016 it had secured investment which allowed it to begin a high growth strategy, acquiring insurance businesses with niche expertise. The group now consists of 15 businesses and is still on a growth trajectory.  

While each subsidiary business operates its own insurance brokerage system, handling the day to day transactions, the group chose Aqilla for central finance management, primarily for its speed of deployment as new businesses join the group.

PIB's group finance manager Will O'Keeffe said: “We have a cloud strategy at group level and having our core finance system in the cloud means we can create a template version of Aqilla, clean of creditors and debtors, and install it within an hour for each newly acquired company. Using Aqilla's Excel Add-In, we can populate it with data quickly. At the front end, the system is so easy to use, we can be operational at subsidiary level in a very short space of time.”

The central group system is designed to capture divisional data by line. This data is processed by the divisions and fed into Aqilla's database; query builder is then used to search and report on both group and divisional data. This delivers information which can be manipulated into a useful inter-company matrix and presented across a range of reports, from monthly management packs to group consolidation and adhoc performance monitoring.

Hugh Scantlebury, managing director of Aqilla added, “Aqilla suits PIB very well and their group model is testament to the value cloud apps can bring to fast-emerging businesses; a cloud strategy comes with a very low cost of entry, keeping overheads low while being able to scale quickly as the business grows. It allows emerging groups to seize opportunities quickly and achieve efficiencies from an early stage.”

Once the various banking platforms have been standardised PIB will then integrate Aqilla with its banking process; and as more companies are acquired these will be integrated into their preferred brokerage systems (all of which are cloud-based) to drive more efficient ways to store and integrate data across the group with Aqilla at the core.

The case study is available to download here