Why an Insurance Broker’s Finance Team Chose Dynamics 365

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Why This Company Switched to Microsoft Dynamics 365 for Complex Multi-entity Consolidations, Pro-forma Reporting and an Overall ERP Solution Upgrade


Complex accounting requirements is an understatement when you consider the aggressive growth-through-acquisition strategy of one of the largest insurance brokers in the United States. With a current acquisition rate of 1-2 companies each month, 1,900 employees, $2 billion in placed premiums, and 25 entities (and counting), this company’s finance team was in desperate need of an ERP solution that could support their aggressive growth and future goals.


A Multi-faceted Financial Management and Accounting Solution That Could Step Up to the Challenge


The company’s finance department ultimately felt their legacy system was becoming an obstacle for their aggressive growth plan. The list of complex requirements for a new ERP system was extensive, but the key accounting capabilities needed to ensure the company’s ability to keep pace with aggressive growth included automated consolidation management and pro-forma reporting.


The ability to automate consolidations would not only allow the finance department to easily keep up with growth, but this automation would also support a broadening business model that includes investment in a wider variety of businesses--regardless of specialty.


Due to the firm’s aggressive growth and increased rate of acquisitions, the current pro-forma reporting process within the legacy system was not sufficient. The fact that the lines of business were continuously expanding made efficient pro-forma reporting increasingly difficult.


Pro-forma reporting capabilities were a critical factor in determining whether the company should transition to a new ERP system, and when combined with the other legacy ERP disparities, the decision to pull the trigger on a new ERP solution was made.


Meet the ERP Solution They Chose: Microsoft Dynamics 365 Finance


After evaluating numerous ERP platforms with the help of a major consulting organization, the firm chose Microsoft Dynamics 365 Finance as their ERP solution. What set Dynamics 365 Finance apart from other leading platforms? As put by the company’s CAO (Chief Accounting Officer), “After seeing Dynamics in action, we were very comfortable with its ability to address all our challenges.”


Microsoft Dynamics 365 Finance offered the firm the flexibility and reliability they needed from an ERP solution to support their rapid and aggressive growth. The reporting capabilities were a key feature, along with Dynamics 365’s ability to integrate with business-critical software like SK Global.


The next step was to find a Microsoft partner to implement Dynamics 365 Finance, and AKA Enterprise Solutions was the perfect fit. Recommended by Microsoft due to our reputation in the financial services industry, we had a deep understanding of the firm’s complex accounting needs and knew Dynamics 365 (and AKA) had the tools to deliver. In addition to Dynamics 365 Finance, the firm’s finance team chose our custom solution for their unique and extensive consolidation requirements, DynamicsAdvantage Multi-Entity Financial Management for Financial Services.


Then the Coronavirus Hit…


A mid-March start date was planned for the Dynamics 365 Finance implementation, and then COVID-19 hit. Unlike other companies amidst the pandemic, this large insurance broker was able to smoothly adjust to a remote workforce by making only a few changes (thanks to remote processes already in place) and didn’t bat an eye at the idea of proceeding as planned.


Charging Ahead Through COVID-19


Pandemic or not, this insurance company’s finance team still required a new ERP software solution to keep up with rapid growth. The only challenge we had to overcome to move forward was how to implement the new ERP solution remotely.


Fortunately, AKA was accustomed to both planning and executing implementations remotely and the firm was ready to jump on board. Even though the project is still in progress, the CAO has said, “We have been able to communicate as well remotely as we would have in person. At this point, if I had to do it again this way, I would not hesitate.”


An ERP Solution That Delivers and Enables Growth


The firm is now positioned to manage their complex accounting needs and adapt to the rapid growth they are sure to continue experiencing (both through acquisitions and organic), thanks to Microsoft Dynamics 365, Power BI and the custom Multi-Entity financial management solution from AKA.


Consolidation logistics are no longer an issue for the finance department. They can bring acquisitions directly into Dynamics 365 as part of a faster, much more efficient and streamlined process.


And, don’t forget about pro-forma reporting. This major requirement has been satisfied with the new, scalable ERP solution and pro-forma reporting has never been easier.


Dynamics 365: Microsoft’s Solution for Growing Organizations


Complex accounting is no longer an issue with Microsoft Dynamics 365. Contact AKA’s financial services experts to learn more about how we can deliver a custom solution to meet your unique challenges.


See how another financial services firm, Unit Trust Corporation, used AKA’s DynamicsAdvantage for Multi-Entity Financial Management to simplify their consolidation process, too:



AKA specializes in making it easier to do business, simplifying processes and reducing risks. With agility, expertise, and original industry solutions, we embrace projects other technology firms avoid—regardless of their complexity. As a true strategic partner, we help organizations slay the dragons that are keeping them from innovating their way to greatness. Call us at 212-502-3900!

Article by: Amy Spencer | 212-502-3900

Amy leads the marketing team that is responsible for go-to-market strategies, messaging, and demand generation for AKA’s financial services and life sciences practices, as well as the company’s cross-industry offerings. She is also responsible for the processes and systems, such as marketing automation and CRM, that the team employs to align marketing with sales for a greater impact. Amy earned a Bachelor of Arts degree in Communications from The College of New Jersey and has 25+ years of experience driving the marketing strategy and execution for technology and professional services firms.

1 thought on “Why an Insurance Broker’s Finance Team Chose Dynamics 365”

  1. ERP platforms with the help of a major consulting organization, the firm chose Microsoft Dynamics 365 Finance as their ERP solution thanks for the post, nice information it is really helpful.

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