AIM Insurance

AIM (Avon Insurance Management) is a leading insurance brokerage firm providing comprehensive personal and commercial insurance solutions across multiple locations. Their diverse portfolio spans auto, home, business insurance, and group benefits, serving clients across various range of industries.

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Challenge and Problem Statement

AIM Insurance faced operational inefficiencies due to the lack of an integrated CRM system

Severe Bookkeeping Backlog

7-8 months of unprocessed transactions for 2023 with thousands of entries requiring manual processing

Non essential expense not being tracked, leading to budget over runs

Historical data trapped in QuickBooks Online needing migration and reconciliation

Manual Billing Inefficiencies

Time-consuming manual creation of direct billing invoices and agency billing documentation

No automated system for commission calculations and payment tracking

Compliance and Reporting Gaps

Lack of RIBO-compliant reporting system and real-time financial insights

Manual sales tax reconciliation between Power Broker and Zoho Books

Expense Management Challenges

Manual receipt collection and expense tracking process

Time-consuming reimbursement approvals and tracking system

No mobile-friendly solution for receipt capture and processing

Solution

Strategic Catch Up Accounting and Migration

Leveraged Zoho Books' advanced transaction categorization rules to clear 8-month backlog within 30 days

Setting up the right chart of accounts to track expenses appropriately and identifying non-essential expenses to keep them within budget

Migrated historical accounting data from QBO along with attachments within 7 dayswith Zero Business Downtime

Modern Expense Management

Implemented Zoho Expense with mobile receipt scanning and auto-data capture

Streamlined reimbursement process with one-click approvals and tracking

Integrated expense data directly with Zoho Books for real-time financial reporting

Comprehensive Reporting Framework

Customized Zoho Analytics for producing RIBO-compliant reporting and real-time insights

Implemented sales tax reconciliation between Zoho Books and Power Broker, identifying missed revenues in Zoho and highlighting the exceptions

Automated Billing Ecosystem

Developed integrated solution using Zoho Books and Zoho Flow for automated invoices and bills generation

Created custom functions in Zoho Creator for precise commission calculations and payment reconciliation

Results

Metric

Improvements

Invoice Processing

96% faster

(45 mins to 2 mins)

Monthly Close Time

85% reduction

(30 days to 5 days)

Commission Tracking

100% automated and error-free

Expense Processing

90% faster

with mobile capture

Hours saved

40+ hours saved weekly

"Automate Accounts transformed our bookkeeping backlog into a streamlined, automated system within just 30 days. Their expertise with Zoho Apps not only solved our immediate challenges but created sustainable automated solutions for our billing and reporting processes. Their ability to identify missed revenue while optimizing expenses proved they're not just service providers, but true partners in our financial success."

— Dan Avon, President, AIM Insurance

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