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Sapiens FinancialPro Statutory Reporter from Sapiens
Tailor-made for insurance statutory reporting (NAIC, GAAP, IFRS), automates regulatory submissions, validation, and compliance monitoring with configurable workflow and data checks.
Product analysis by function
Statutory Reporting Systems for Finance and Accounting
Software that prepares financial statements in accordance with statutory accounting principles required by insurance regulators.
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Data Integration & Import
(9 Yes /9 Known /11 Possible features)
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Multi-source Data Integration Ability to connect to and retrieve data from multiple systems (GL, subledgers, data warehouses, etc). |
Marketing material and product page claim integration with multiple sources—ERP, GL, data warehouse and subledger connectors for insurance data aggregation. | |
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Automated Data Mapping Supports automated mapping of source fields to statutory reporting schema. |
Documentation and presentations mention automated mapping between source systems and statutory formats (e.g., NAIC, IFRS). | |
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Real-time Data Sync The system can synchronize with source systems in real time. |
No information available | |
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Custom Data Transformation Supports custom data transformation rules for preparing statutory reports. |
Official datasheet and website refer to customizable transformation and validation rules supporting reporting requirements. | |
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Data Validation Rules Built-in or configurable rules for validating imported data. |
Described as having configurable data validation and error correction steps prior to submission. | |
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Bulk Data Upload Supports upload of high volume data sets efficiently. |
Sapiens FinancialPro highlights bulk/batch data loading for large insurance transactional sets. | |
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Data Import Speed The speed at which the system imports data. |
No information available | |
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Error Reporting & Logging Automated error logs and reporting for import failures. |
Product specifications include automated logging and audit trails for failed and successful imports. | |
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Data Extraction Templates Pre-built templates for extracting statutory data. |
Prebuilt extract templates for statutory formats (e.g., NAIC, IFRS) mentioned in brochures. | |
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Manual Data Entry Interface Easy-to-use UI that allows override or entry of missing/adjustment data. |
UI demonstration videos show manual adjustment/override entry screens. | |
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API Support Availability of APIs for automated integration with other platforms. |
API integrations for data import/export described in integration documentation and technical specs. |
Statutory Compliance & Regulatory Updates
(9 Yes /9 Known /10 Possible features)
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Multi-regulatory Support System can produce reports for multiple regulatory jurisdictions. |
Supports NAIC, US GAAP, IFRS, and Solvency II, as highlighted in Sapiens product literature. | |
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Automated Regulatory Updates Automated updates and patches are provided for new statutory changes. |
Product notes recurring support for regulatory changes through automated release updates. | |
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Version Control Tracks which version of regulation is being applied to each report. |
Release management and compliance version tracking described in compliance documentation. | |
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Regulatory Alerts Notifies users when statutory requirements change. |
Product offers system notifications and regulatory alerts for updated statutory requirements. | |
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Statutory Forms Library Prebuilt statutory forms for various jurisdictions (e.g., NAIC, Solvency II, IFRS 17). |
Sapiens supplies standard statutory report and form templates for multiple jurisdictions. | |
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Change Log Tracking Maintains history of changes to compliance logic and reporting formats. |
Change logs and audit trail features specifically mentioned for compliance tracking. | |
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Automated Rules Update Frequency How frequently the rules engine is updated. |
No information available | |
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Audit Trail Comprehensive logging of data, changes, and user actions for audit purposes. |
Out-of-the-box audit/trail reporting and logging; specifically referenced as an audit-ready solution. | |
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Test Environment for Regulatory Changes Ability to test impact of new rules in a sandbox before production roll-out. |
Sandbox/test environment for rule changes mentioned in product briefs and implementation support. | |
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Report Certification Workflow Supports certification, sign-off, and approval workflows for key reports. |
Certification and approval workflow for sign-off described as core workflow module. |
Report Generation & Customization
(10 Yes /10 Known /11 Possible features)
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Prebuilt Report Library Includes library of standard statutory reports for insurance. |
Prebuilt statutory and management reports listed as available out of the box. | |
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Report Customization Tools Users can create or modify reports to fit specific needs. |
Demonstrations/examples show report builder and customization features. | |
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Ad-hoc Query Reporting Allows users to build custom reports on demand. |
Custom/ad hoc reporting highlighted in sales demos and technical overviews. | |
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Multi-format Export Supports exporting reports in various formats (PDF, XLSX, XBRL, XML, CSV). |
Exports to XLSX, PDF, XML, XBRL, and CSV mentioned in Sapiens technical documentation. | |
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Automated Scheduling Supports automated scheduling and recurring report generation. |
Can schedule regular/recurring report generation (see workflow scheduler in documentation). | |
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Drill-down Analysis Interactive capabilities to view detailed data behind report figures. |
Interactive drill-down into report numbers showcased in UI demos. | |
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Multi-entity/Consolidated Reporting Ability to produce reports for multiple entities or consolidated group accounts. |
Supports consolidated/multi-entity reporting as standard for insurers with many entities. | |
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Data Annotations/Explanatory Notes Ability to add notes and comments to reports. |
Notes/annotation capabilities highlighted for regulatory and internal reporting. | |
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Report Rendering Performance Speed of generating statutory and ad-hoc reports. |
No information available | |
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Conditional Formatting Rules-based formatting for highlighting exceptions or key figures. |
Product documentation mentions rules-based conditional formatting for report highlights. | |
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E-filing Integration Direct transmission or integration with regulatory e-filing portals. |
Regulatory e-filing supported (examples for NAIC and other e-portals). |
Workflow & Process Automation
(9 Yes /9 Known /10 Possible features)
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Role-based Workflows Supports different approval and review steps based on user roles. |
Role-based workflow for review/certification steps validated in technical overviews. | |
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Task Assignment & Tracking Assigns responsibilities and tracks completion status of tasks. |
Product marketing mentions task assignment and tracking as part of process module. | |
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Automated Adjustments Processing Automated calculation and posting of statutory adjustments. |
Automated adjustments and calculations are part of the statutory process engine. | |
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Process Monitoring Dashboard Real-time dashboards to monitor process status and bottlenecks. |
Dashboard UI for monitoring process status is presented in sales and training demos. | |
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Exception & Error Handling Automation Automated handling and escalation of process exceptions. |
Workflow includes exception/error step capture and automated escalation paths. | |
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Workflow Customization Allows custom steps and routing logic in processes. |
Configurable/custom workflow steps and routing logic described in implementation guides. | |
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Automated Notifications Automated email or in-app alerts for pending actions. |
Supports automated user/system notifications for common workflow events. | |
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Audit Trail on Workflow Actions Tracks all workflow actions for audit compliance. |
Workflow actions appear in global audit logging features. | |
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Parallel Processing Capability Ability to run multiple workflows or steps in parallel. |
Parallel processing featured for large insurers/multinational group reporting. | |
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Workflow Template Library Pre-defined workflow templates for standard statutory reporting cycles. |
No information available |
Security & Access Control
(9 Yes /9 Known /10 Possible features)
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Multi-factor Authentication Supports two-factor or multi-factor authentication for user logins. |
Multi-factor authentication supported (info available in security section of product sheets). | |
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Role-based Access Control Fine-grained user permissions by role, department, or report type. |
Role- and permission-based access described for reports and admin features (see architecture docs). | |
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Data Encryption (at rest & in transit) All data is encrypted during storage and transfer. |
Product claims data encryption in transit and at rest as part of compliance offering. | |
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Single Sign-On (SSO) Supports integration with enterprise identity providers. |
Integration with enterprise SSO protocols (e.g., SAML, AD) listed in integration capabilities. | |
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Audit Logging Logs all user actions for traceability. |
Comprehensive audit log of system/user actions present; validated in SOC/ISAE documentation. | |
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Customizable Password Policies Allows enforcement of organization-wide password rules. |
Admin-configurable password policy requirements documented in security guide. | |
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User Activity Monitoring Continuous monitoring for unauthorized or anomalous activity. |
Behavioral/user activity monitoring described as standard (for security/compliance). | |
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Data Masking & Redaction Sensitive fields can be masked or redacted based on user role. |
Field masking options for sensitive values based on role access (see RBAC configuration options). | |
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Access Control Change Log Historical record of role and access permission changes. |
Access control change tracking available to admins (covered in audit log section). | |
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Session Timeout Controls Configurable timeout for inactive user sessions. |
No information available |
User Experience & Interface
(6 Yes /6 Known /10 Possible features)
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Intuitive Dashboard User-friendly landing page with shortcuts to frequent actions. |
Landing dashboard and UI quick-navigation shown in product UI screenshots and videos. | |
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Personalized Views Users can customize their workspace and reporting views. |
Workspaces and saved report views can be created by users (see personalized dashboard features). | |
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Multi-language Support System interface supports multiple languages. |
No information available | |
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Collaboration Tools Comments, annotations, and chat for team communication. |
Comment/annotation/chat options for team collaboration mentioned in product features. | |
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Mobile Accessibility Access system and reports via mobile web/app. |
No information available | |
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Accessibility Compliance Meets accessibility standards (e.g., WCAG 2.1). |
No information available | |
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Contextual Help On-screen guides and knowledge base links. |
Product help, on-screen guidance, and knowledge base integration featured. | |
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Recent Activity Log Visual display of recent user and team actions. |
Recent activity feed/log found in home dashboard interface in most implementations. | |
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Template Saving Save report or workflow templates for reuse. |
Template saving supported for reuse of forms, reports, and workflow blueprints. | |
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Shortcuts & Favorites Mark and quickly access commonly used reports and tasks. |
No information available |
Audit, Controls, and Reconciliation
(9 Yes /9 Known /10 Possible features)
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Full Data Lineage Trace the origin, transformation, and movement of data through the system. |
Full data lineage and traceability from source import to statutory report output, documented as audit support. | |
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Automated Account Reconciliation Systematic reconciliation of accounts needed for statutory reporting. |
Automated account reconciliation for financial/statutory closes included in feature lists. | |
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Reconciliation Exceptions Management Tracks, manages, and resolves reconciliation discrepancies. |
Exceptions are tracked and managed as standard, supporting compliance requirements. | |
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Pre-validation Checks Automated checks before report submission to catch inconsistencies. |
System performs pre-validation before report submission—highlighted in implementation guide. | |
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Integrated Control Framework Document and embed internal control procedures into workflows. |
Supports documentation/embedding of control procedures into reporting workflows. | |
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Separation of Duties Enforcement Ensures that critical tasks cannot be performed by a single user. |
Separation of duties is available as part of workflow permission configurations. | |
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Adjustment Approval Workflow Ensures statutory adjustments are documented and approved. |
All adjustments require supporting documentation and approval in workflow process. | |
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Data Locking and Freezing Ability to lock data to prevent changes post-certification. |
Locking/freezing of data post-report certification is a compliance feature for auditors. | |
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Audit Reporting Produce detailed audit and controls compliance reports. |
System produces dedicated audit report outputs for compliance and audit needs. | |
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Change Audit Metrics Measures and logs the frequency and impact of report/data changes. |
No information available |
Performance & Scalability
(5 Yes /5 Known /10 Possible features)
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Concurrent User Capacity Maximum number of users supported simultaneously. |
No information available | |
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Large File Handling Ability to import, export, or process large statutory files. |
Product spec sheets promote processing of large statutory files (>100MB) for insurance groups. | |
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Peak Processing Speed Maximum processing speed under heavy load. |
No information available | |
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Horizontal Scalability Ability to scale by adding more servers or instances. |
Supports cloud and on-prem scaling, including multi-instance/horizontal expansion. | |
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Disaster Recovery Time Objective Time to restore system after failure. |
No information available | |
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Batch Processing Support Can process large data batches overnight or during scheduled windows. |
Batch jobs/processing for nightly/overnight data and report runs are available. | |
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Archiving & Retention Policy Automated archiving for old statutory reports per policy. |
No information available | |
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System Uptime SLA Guaranteed system availability per service contracts. |
No information available | |
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Seamless Upgrades No service disruption during regular upgrades or patches. |
Upgrades/patches can be executed without scheduled downtime (see managed services offering). | |
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Load Balancing Built-in mechanisms to distribute processing load. |
Load balancing for large insurance groups and multinational deployments mentioned. |
Interoperability & Extensibility
(6 Yes /6 Known /10 Possible features)
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Open API Availability Provides open APIs for custom integrations. |
Open REST and SOAP APIs for custom integrations are documented. | |
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Out-of-the-box ERP/GL connectors Comes with connectors for common ERPs and general ledger systems. |
Connectors for SAP, Oracle, and common insurance/GL/ERP solutions promoted. | |
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Third-party Application Integration Supports integration with external audit, actuarial, or analytics tools. |
Support for external audit and actuarial tools through technical APIs mentioned. | |
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Webhooks & Event Notifications Offers push notifications for events and status updates. |
No information available | |
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Add-on Marketplace Ecosystem for certified add-ons or extensions. |
No information available | |
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Data Export Flexibility Exports data in various open standard formats. |
Exports supported in open data formats as part of standard functionality. | |
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Plugin/Module Support Can add new modules, plugins, or functions. |
Modular - new modules/plugins can be added for changing requirements. | |
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Scripting/Custom Logic Custom scripts or logic can be introduced for bespoke needs. |
No information available | |
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Custom Workflow Integration Embed workflows from or to other software solutions. |
No information available | |
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Legacy System Support Ability to interface with legacy data sources or applications. |
Interoperability with legacy insurance/accounting systems featured in technical documentation. |
Vendor Support & Service
(9 Yes /9 Known /10 Possible features)
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24/7 Support Availability Global support offered around the clock. |
24/7 global customer support is a standard service in Sapiens documentation. | |
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Dedicated Account Manager Assigned support resource for customer relationship. |
Dedicated account management referenced in customer service offering. | |
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Onboarding & Training Programs Comprehensive onboarding, tutorial, and certification paths. |
Onboarding programs and structured user training are included in implementation packages. | |
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Detailed Documentation & Knowledge Base Extensive product docs and searchable help articles. |
Comprehensive searchable documentation and online help center. | |
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Community & User Group Access Active user forums and best practice sharing. |
No information available | |
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Customer Feedback & Roadmap Transparency Customers can submit feedback and review product roadmap. |
Feedback systems and product roadmap transparency options highlighted on the support site. | |
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SLAs for Support Response Service level commitments for response and resolution times. |
SLAs for support response provided within standard Sapiens service contracts. | |
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Compliance Certifications (SOC, ISO, etc.) Proof of security, reliability, and privacy standards compliance. |
Mentions SOC/ISO certifications for cloud offerings (verify for specific deployment). | |
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Customizable Support Packages Ability to choose support tier and channel. |
Customizable support packages and escalation options are listed in vendor contracts. | |
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Disaster Recovery Support Vendor-managed recovery procedures in the event of data loss/outage. |
Disaster recovery and backup/restore supported both in SaaS and on-prem deployments. |
Cost Management & Licensing
(9 Yes /9 Known /10 Possible features)
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Transparent Pricing Structure No hidden costs—clear pricing per user, entity, or transaction. |
Transparent pricing model, clear per-user/entity, described in tender documents/pricing sheets. | |
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Flexible Licensing Options Subscription, perpetual, and enterprise agreements supported. |
License options—SaaS, on-prem, enterprise subscriptions—explained in vendor documentation. | |
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Pay-as-you-go Usage Option to pay only for what is consumed (by volume/users/reports). |
Pay-per-report and user-based pricing models available per solution brief. | |
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Scalable Pricing Model Pricing scales reasonably with increased use or data. |
Pricing scales with user/local entity volume—see enterprise quotes. | |
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Free Trial / Proof of Concept Free eval or pilot phase offered before purchase. |
Free trial and/or PoC offered as part of presales support. | |
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Total Cost of Ownership Estimator Tool to estimate five-year total cost with all required services. |
TCO analysis available from Sapiens sales team for enterprise RFPs. | |
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Unlimited User Option Flat-fee plan available for unlimited users. |
No information available | |
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No Extra Fee for Regulatory Updates Core statutory update costs included in base price. |
Regulatory updates included in annual subscription cost, per product FAQ. | |
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Cost Predictability Ability to forecast yearly costs accurately. |
Yearly/quarterly cost forecasting included with pricing proposal and contract. | |
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Budgeting & Cost Allocation Tools Built-in features to allocate and track system costs by department/entity. |
Tools for budgeting/tracking entity or department-specific costs present. |
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