Directly integrated in Applied Epic, Automated Statements enables finance and accounting teams to pay producers and carriers faster by automating reconciliation workflows
Chicago, IL., April 29, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced Automated Statements, an AI-powered statement recording and reconciliation application for direct bill commissions and agency bill payables launching in fall 2025. Natively embedded in Applied Epic’s General Ledger, Automated Statements will allow users to simply upload direct or agency bill statements in any format and leverage AI to extract data for matching and reconciliation to policies and plans in Applied Epic, creating step-change efficiency value for the direct bill and agency bill revenue processes.
Automated Statements centralizes and automates accounting workflows within Applied Epic to accelerate time-consuming reconciliation workflows and improve quality and confidence in an agency’s financial data. Covering more than 90% of certified P&C and Benefits carriers, Automated Statements in Applied Epic enables data extraction from statements received in any format, including scanned images, PDF, CSV, advanced matching to plans and policies, and financial data recording or reconciliation, depending on direct or agency billing methods. Statements can be submitted to the Applied Epic General Ledger for suspended or reconciled statements with a single click, saving staff time. AI-powered accounting automation in Applied Epic helps finance and accounting teams reconcile the statement of record with ease, ensuring their business, people, and carrier partners are paid quickly and accurately while reducing back-office costs to drive more profitable revenue growth.
“Applied has been at the core of agencies’ accounting and financial workflows since its inception, and with the introduction and rapid growth of digital payments with Applied Pay the past couple of years, there is a clear opportunity and demand to create more automation value for the back office,” said Chase Petrey, president, Applied Pay, Applied Systems. “Direct bill commissions and agency bill payables are two of the most common and time-consuming tasks for finance and accounting teams, and by integrating our differentiated solution directly into their management system’s general ledger, we are going to immediately create step change efficiency gains and make the process of money movement simpler and faster than ever.”
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About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.
CONTACT: Lauren Malcolm Applied Systems (678) 438-5093 LMalcolm@appliedsystems.com
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