Every quarter, eCapital Advisors hosts a Workday Adaptive Planning User Group where clients share their experiences and gain exclusive access to upcoming trends. A recent User Group featured eCapital client Ed Liang, Director of Financial Planning & Analysis (FP&A), who spotlighted his InsurTech startup’s successful partnership with eCapital and Workday Adaptive Planning.

If you ask Ed Liang, he will tell you that his InsurTech startup is “primed to disrupt” an old way of delivering life insurance by digitizing the process. Dallas-based Bestow is on a mission to make coverage accessible to millions by creating the best possible software products and user experiences. Named as one of Forbes Best Employers, Bestow needed a scalable infrastructure to keep its competitive edge.

A Place for Data

Like many startups, Bestow missed a central system to house budget and financial data. Consequently, the InsurTech startup could not efficiently use data from Excel and Google Sheets. Further, maladaptive legacy system did not integrate well with APIs or interface with other systems. As a result, FP&A team’s ability to locate and consolidate data and produce necessary outputs was limited.

InsurTech Startup Selects eCapital

While Bestow evaluated several vendors for the job, eCapital’s personalized demonstration and dedicated team set the firm apart, which allowed Liang to realize the value of the investment. eCapital began weekly working sessions to deliver a custom balance sheet and centralized system tailored to Bestow’s needs.

The New Way Ahead

Today, Bestow has a firm handle on data management. Moreover, Liang said he enjoys modeling multiple scenarios and dashboards highlighting data in visually digestible charts and graphs. With budgeting and forecasting data stored, Bestow’s FP&A team views financial data from a business line perspective. What is more, automation opens the door for seamless integration and added analysis tools for Bestow in the future.

Performance Management Solutions for FP&A:

  • Multiple scenario modeling
  • Planning business lines
  • Data visualization
  • Customized solutions