Written By: Jennifer Middlin, Product Marketing Manager
As an MGA, you administer insurance programs and negotiate contracts on behalf of carriers—and you’re good at it! Doing it quickly and effectively is what keeps you attractive to your partners and your clients.
But what are you doing with your internal systems to stay competitive? When it comes to having a competitive advantage, does your management system come to mind? It should, and there are a few places where you might be losing an edge.
Knowledge workers waste too much time searching for information. They’re inundated with emails, attachments, and conversations outside of the “normal” channels (like social media or text correspondence). In fact, an IDC research report shows that knowledge workers spend about 2.5 hours per day, or roughly 30 percent of the workday, searching for information. IDC further estimates that an employer with more than 1,000 employees could be wasting $2.5 to $3.5 million per year searching for nonexistent information!
And it’s not just the lost time that’s an issue, there are exponentially more problematic (and more expensive) issues that can arise:
Bad decision making based on faulty information
Insecure file storage due to staff creating shortcuts and saving files locally
Lost sales because customers can’t find the information they need on products or services and give up in frustration
What is the key to reducing this thrashing? Your employees must be able to share and reuse information regardless of format or location.
How do you know if your business has the tools it needs to stay competitive? Download the MGA Guide to Selecting a Management Solution for tools to help you determine if you need a new accounting and management system to help you grow your business.