Financial Giant cuts Contract Generation Time from Hours to Minutes

Dec. 7, 2011 - PRLog -- Qorus Software, innovative IT company focused on development of document automation software for Microsoft SharePoint, today announced that Sanlam Structured Solutions (SSS), a division of one of South Africa’s leading financial services groups, Sanlam Life Insurance Limited, are using Qorus DocGeneration in their SharePoint environment. Sanlam Structured Solutions (SSS), which designs and provides structured investment and retirement solutions for the institutional and retirement fund industry, are using Qorus DocGeneration, Qorus’ flagship document generation solution for SharePoint, to reduce the time required to generate their investment fund policy contracts.

“We chose Qorus DocGeneration to simplify and accelerate the generation and storage of our investment fund policy contracts in SharePoint,” says Lionel Vice, Chief Operations Officer at Sanlam Structured Solutions. “Our use of Qorus for the generation of these contracts has resulted in a turn-around time of about five minutes per contract in comparison to the previous two hours needed to construct standard documents.”

SSS produces highly customised Contracts which outline the terms and conditions of the contractual agreement between Sanlam Life and a fund. In the past, the contract generation team manually assembled these multi-sectioned Contracts for their clients and each contract took approximately two hours to generate. The process was time-consuming and prone to human error and rework as much of the content was copied and pasted into the Contract documents.

SSS now uses Qorus DocGeneration to create intelligent Microsoft Word templates for their different products that auto-populate the contracts with the most up-to-date and accurate information for each particular fund or set of funds, which is automatically pulled from SharePoint lists. As these Contracts are now generated on demand, Qorus’ business rules determine what information is required in the contract upon adding a new record and automatically generates a new Contract with the correct Dynamic data. Qorus DocGeneration saves the document into a SharePoint Library promoting metadata for ease of search at a later stage. A workflow approvals process is then kicked off to ratify all contract information.

“Qorus now helps SSS generate their investment fund policy contracts in less time, with less effort required while increasing the quality of their final output,” says Lee Child, MD of Qorus Software. “Qorus eliminates the manual input of data into their contracts, which minimises human error and ensures consistent layout, formatting and branding for every contract.”

“The success of the project has led us to re-evaluate our other document generation processes and plans are afoot to utilise Qorus for generating other business documents to ensure similar time reduction, data consistency and quality output,” concludes Vice.

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Qorus Software develops document automation software for Microsoft’s SharePoint platform and Microsoft Office. Qorus’ flagship product, Qorus DocGeneration software, is installed as a feature of SharePoint and uses Microsoft Word for document design. Qorus DocGeneration drastically reduces the time and effort required to generate highly customised documents across any industry or department within an organisation – everything from sales proposals, group policy documents, employee / client contracts to welcome kits, financial reports and monthly invoices.

Cut document generation time from “days to less than a minute” while improving accuracy, consistency of layout and formatting, and overall effectiveness of business documents. No OpenXML coding required.