"We have found FinancialForce Accounting extremely user friendly and have significantly reduced the time for administrators to get information back to Management and Agents on commissions and revenues generated by products, information we simply didn’t have before."

Melissa Connors, Operations Accountant, Olympia Benefits

Olympia Benefits are specialists in delivering health and dental plans, niche life and travel insurance products to Canadian small businesses. Olympia has been in business since 1996 and operates as a subsidiary of the publically traded company Olympia Financial Group Inc. Over the past 15 years, they have processed nearly 1,000,000 claims for over 29,000 businesses and 80,000 employees. With annual claims exceeding $60 million, they are the market leader with an unparalleled depth of industry expertise and resources.

Products in Use: FinancialForce Accounting

Company size: Small

Previous system: Sage

Location: Calgary, Alberta, Canada

Industry: Financial Services & Insurance; Professional Services

Business Issues

  • Multiple systems with manual intervention required e.g. Adjustments at year end
  • Agents’ commission payments complicated as calculated in multiple systems
  • Global Admin had to put sale in one system then create a separate spreadsheet leaving lots of room for error
  • Revenue and commission analytics data limited
  • Hold ups caused by single information point

Benefits & Results

  • Commissions paid to consultants which vary by product are automatically calculated
  • One system and one view across multiple offices means can analyze sales by region or person, empowering employees with the information to follow up agent enquiries
  • Flexibility to customize reports
  • Mass upload will half the time it takes to do month end
  • Costs and time taken by Admin to get information on sales and commissions significantly reduced
  • Decreased email volumes
  • Accounts can provide management information themselves without having to go and find the answers elsewhere
  • Ability to analyze makeup of revenue previously measured as a lump sum by product