As Singapore’s leading enterprise software solutions provider for more than two decades, SIFT Analytics has catered to over 500 corporate clients in ASEAN, focusing on projects that transform complex data challenges into real business value.
One of these is the breakthrough collaboration with multinational insurance and finance corporation, AIA to which SIFT Analytics has won the Singapore Business Review (SBR) Technology Excellence Awards for Analytics – IT services.
SBR annually recognizes the accomplishments of ventures that target the fulfilment of this role through their trailblazing products, services, and strategies in the SBR Technology Excellence Awards 2021.
This year, the award applauded SIFT Analytics in designing and supporting AIA’s data analytics adoption journey, to meet their evolving needs in automating its real-time information collection process, which in turn would be used to improve performance tracking and decision making. The digital and analytics automation solution allows data to be collected and analyzed, results of which are then used to improve processes that AIA’s agents apply to increase client interest and improve sales.
The automated solution also provided on-demand visibility of daily reports from a dashboard, a vast improvement from the previously monthly reports.
The introduction of SIFT Analytics’s intuitive, precise, and timely solution, provided AIA’s agents with more accurate insights on business performance and sales figures. It also enabled the management team to better formulate strategies that support AIA agents’ sales engagement activities, reduced human administrative error, placed less reliance on manual tasks, and streamlined operations.
Common and repeated processes were consolidated and transformed into automated, auditable, easily understandable, and governable business workflows. This improvement increased productivity. From spending two weeks per month dedicated to consolidating and generate business-as-usual (BAU) reports, the process has been replaced by eight automated reporting processes that run daily, giving decision-makers timely insights. Time saved from generating BAU reports is now used to focus on investigating and provide prompt responses to agent enquiries or perform other analyses.
SIFT Analytics’s solution has ensured better accuracy of calculations as production credit agency/district as at transaction date. The data gathered are now stored in central repository accessible to other business users with analytics and reporting needs.
After only six months, these key enhancements translated into better ROI for AIA, which reported doubled workflow numbers.
The users’ receptiveness to such changes have proved to be key to the project’s success. The project team has already identified new business challenges that SIFT Analytics and AIA can work on and benefit from the partnership.