ALIS DX’s accounting enhancements reduce the amount of work MGAs and program administrators do outside their system of record.
Dyad, a leading provider of software for insurance agencies, MGAs, Program Administrators, and specialty insurers, today announced a new set of accounting enhancements in ALIS DX, the company’s intelligent all-in-one platform for MGA operations. The updates are focused on removing manual work from three areas that slow down finance and operations teams: splitting payments across every party on a transaction, processing payments, and closing the books.
These updates bring payment splitting and financial reporting management further into the platform, so finance and operations teams spend less time on manual work and more time running the business.”
— Jeff Wargin, Chief Product Officer, Dyad
For many MGAs and program administrators, splitting commission and fee income across multiple parties, disbursing payments to finance companies and tax entities, and reconciling revenue and commission activity still happen partly outside the system of record, in spreadsheets, manual AP adjustments, or separate reporting tools. Dyad’s latest ALIS DX enhancements bring more of that work directly into the platform.
Read More on Fintech : Global Fintech Interview with Rob Young, Managing Director – UK at InDebted
Key updates include:
– Multi-party payable splitting, extended from commission payables to fee income — Market Company, Underwriter/Broker roles, and Agency Association can now be added as payable entities alongside Agency, so every party on a transaction gets paid correctly from one system instead of manual AP adjustments.
– Electronic ACH/NACHA payments for Finance Company and Tax Entity disbursements, generated directly from ALIS DX instead of created manually outside the system.
-A Revenue Recognition Report and GL Budget Management tools, giving finance teams a single, in-platform view for reconciling premium, commission, fee, and tax activity and for managing General Ledger budgets, without exporting to external spreadsheets.
-Bulk payment upload and Batch Renewal updates via Excel, letting operations teams apply changes across large volumes of payments or renewal policies at once instead of one record at a time.
– Cross-module invoice notes, giving Accounting and Business Manager teams a shared, contextual record on every invoice.
– Role-based controls over commission changes and utility downloads, giving administrators tighter control over who can modify sensitive financial and admin settings.
“Our customers didn’t sign up for ALIS DX to spend more time in spreadsheets,” said Jeff Wargin, Dyad’s Chief Product Office. “These updates bring payment splitting and financial reporting management further into the platform, so finance and operations teams spend less time on manual work and more time running the business.”
These capabilities are available now to ALIS DX customers, who should contact their project manager or support team to enable the new accounting features.
Catch more Fintech Insights : The AI Shift in Fraud: Why Banks Need a New Playbook
[To share your insights with us, please write to psen@itechseries.com ]
