CPA Mutual Insurance Company of America Risk Retention Group (CPA), a member-owned captive insurance company, has selected SunGard’s iWorks enterprise accounting system (EAS) and statutory statement solution to increase operational efficiencies by consolidating financial processing onto a single platform.
The single platform will allow CPA to access its general ledger, accounts payable, and annual and quarterly statements through one system.
SunGard’s insurance solutions will help CPA to streamline accounting and statement processing, further increase efficiencies and bring accounting functions in-house.
Bill Thompson, president of CPA, said: “With SunGard’s iWorks, we are able to manage accounting fuctions internally and make all of our financial and statements processes seamless."
“The iWorks EAS and statutory solutions are intuitive and integrate well with other systems we have in place. SunGard also provides the stability and product commitment we were seeking in a systems provider.”
Kevin Singerman, COO for iWorks Financials, said: “Insurers need greater flexibility in meeting reporting requirements while increasing efficiency and performance of their accounting operations. We’re pleased that CPA Mutual has chosen SunGard’s iWorks solutions to help simplify financial accounting processes and meet various reporting requirements, while delivering essential functions in an intuitive, integrated environment.”
