Ascend, a leading provider of accounting automation software for the insurance industry, has launched its latest solution, Direct Bill Automation, designed to streamline accounting workflows for processing, extracting, reconciling, and posting direct bill commissions. With this launch, Ascend becomes the first company to offer a comprehensive platform that unifies accounting tasks for both agency bill and direct bill processes.
Ryan Corcoran, CFO of Ellerbrock-Norris, praised the innovation: “Direct Bill Automation empowers our accounting team by reducing time spent on low-value tasks, allowing us to focus on high-value strategic objectives.”
Key Benefits of Direct Bill Automation include:
– Cost Reduction: The technology-driven solution ensures immediate savings with quick and seamless integration.
– Scalability: Designed to support business growth, the platform meets current needs while accommodating future expansion.
– Enhanced Financial Reporting: Provides complete oversight of direct bill entry, reconciliation, and recordkeeping, improving accuracy and efficiency in revenue recognition.
Andrew Wynn, co-CEO of Ascend, stated, “Direct Bill Automation is a significant step in our mission to reduce operational burdens for our clients, enabling them to focus on their core business functions.”
Ascend’s solution enhances broker efficiency by automating manual processes and providing real-time visibility into accounts receivable and payable, resulting in faster financial reconciliation and auditing. Currently serving over 3,000 businesses, including top brokers like NFP, INSURICA, and The Baldwin Group, Ascend has earned accolades such as Top 50 Insurtech by CB Insights and recognition as a Global 5-Star Technology and Software Provider by Insurance Business.
