# Best Insurance Accounting Software - 2026 Reviews & Pricing

> Find the best Insurance Accounting Software for your organization. Compare top Insurance Accounting Software systems with customer reviews, pricing, and free demos.

Source: https://www.softwareadvice.com/accounting/insurance-software-comparison

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Insurance Accounting Software

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# Best Insurance Accounting Software of 2026

Updated July 8, 2026

On this page

1.  Popular Comparisons
2.  Buyers Guide

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89 results

### Compare Products

Showing 1 - 25 of 89 products

#### Company Size

-   Self-Employed
    
-   2-10
    
-   11-50
    
-   51-200
    
-   201-500
    
-   501-1000
    
-   1000+
    

#### Pricing Options

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-   $$$$$
    
-   $$$$$
    
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### Compare Products

Sort by

**Recommendations**: Sorts listings by the number of recommendations our advisors have made over the past 30 days. Our advisors assess buyers’ needs for free and only recommend products that meet buyers’ needs. Vendors pay Software Advice for these referrals.  
  
**Reviews**: Sorts listings by the number of user reviews we have published, greatest to least.  
  
**Average Rating**: Sorts listings by overall star rating based on user reviews, highest to lowest.  
  
**Alphabetically (A-Z)**: Sorts listings by product name from A to Z.

### Product: Sage Intacct

[Sage Intacct](https://www.softwareadvice.com/accounting/intacct-accounting-profile/)

4.28

[(711)](https://www.softwareadvice.com/accounting/intacct-accounting-profile/reviews/)

Best for:Mid-size businesses

### Pricing availability

Free trial: Not available

Free version: Not available

Software Advice Summary

Offering support applications for core accounting, revenue management, project accounting, order and billing, and financial reporting, Intacct is a widely popular web-based system. Great for small and mid-sized insurance business.... [Read more](https://www.softwareadvice.com/accounting/intacct-accounting-profile/)

### What users love

-   Intuitive and user-friendly interface
-   Robust accounting process automation
-   Flexible multi-dimensional reporting tools

### To take in mind

-   Complex and rigid report customization
-   Slow and unresponsive support experience
-   Expensive and escalating costs

### Best rated features:

Quotes/Estimates

5.0

For Nonprofits

5.0

Vendor Management

5.0

Customer Statements

5.0

[See all features](https://www.softwareadvice.com/accounting/intacct-accounting-profile/#key-features)

### Product: NetSuite

[NetSuite](https://www.softwareadvice.com/accounting/netsuite-financials-accounting-software-profile/)

4.23

[(2052)](https://www.softwareadvice.com/accounting/netsuite-financials-accounting-software-profile/reviews/)

Best for:Enterprise businesses

### Pricing availability

Free trial: Not available

Free version: Not available

Software Advice Summary

NetSuite is an AI-powered cloud-based business management suite that incorporates ERP, financial management, CRM and eCommerce functionalities into a unified platform, helping organizations automate core processes and gain real-time visibility into operational and financial performance. It is designed to cater to multiple industries and business sizes, ranging from startups to large enterprises. NetSuite embeds AI capabilities across the suite with agents that assist and advise business leaders with new ways to simplify tasks, suggest actions and uncover business insights. NetSuite ERP encompasses various functions essential for business operations, including financial management, order management, inventory management, warehouse management, supply chain management and procurement. The financial management module includes accounts payable, accounts receivable, general ledger, fixed asset management, payment management and tax management. The CRM (customer relationship management) features in NetSuite cover customer service management, marketing automation and Salesforce automation. The CRM module also includes tools for configuring price quotes. Additionally, the platform offers functionalities for field service management for scheduling and dispatching, a mobile application and asset management. The platform provides professional services automation that helps in project accounting, project management, resource management, expense management and timesheet management. Additionally, these features enable businesses to manage their human resources and projects efficiently. NetSuite includes an analytics and reporting module, providing reporting dashboards and access to a data warehouse. NetSuite supports global business management through multi-currency, multi-language capabilities and global accounting consolidation. It facilitates tax management on a global scale. Additionally, the software features modules for eCommerce and omnichannel commerce, supporting B2C and B2B eCommerce, order management, point of sale and logistics. NetSuite’s platform allows for application distribution, customization, integration, internationalization, performance monitoring, process automation and platform development. These features ensure that businesses can tailor the software to their specific needs. Additionally, the platform prioritizes application and operational security and effective data management.... [Read more](https://www.softwareadvice.com/accounting/netsuite-financials-accounting-software-profile/)

### What users love

-   Flexible system tailoring options
-   Comprehensive and scalable functionality
-   Centralized financial process management

### To take in mind

-   Steep learning curve and complexity
-   Complex and rigid reporting tools
-   Slow and inconsistent support experience

### Best rated features:

"What If" Scenarios

5.0

Aging Tracking

5.0

Vendor Master Data Management

5.0

Project Tracking

5.0

[See all features](https://www.softwareadvice.com/accounting/netsuite-financials-accounting-software-profile/#key-features)

### Product: Striven

[Striven](https://www.softwareadvice.com/project-management/striven-profile/)

4.82

[(130)](https://www.softwareadvice.com/project-management/striven-profile/reviews/)

Best for:Small businesses

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

Striven is a cloud-based, all-in-one business management ERP platform built for small and midsize companies tired of duct-taping popular accounting tools, a CRM, a project tool, and spreadsheets into something resembling a workflow. It brings accounting, CRM, project management, inventory, HR, and reporting under one roof, so a closed deal in sales auto-generates the invoice, updates inventory, and kicks off the project. No re-keying, no version drift, no hunting for the source of truth. The real value is the real-time integration between every part of your system, which means full integration between every part of your business. When every module talks to the others in real time, leadership stops deciding on month-old data and teams stop arguing about which spreadsheet is current. Workflows, dashboards, and reports bend to how the business actually runs, and customer, vendor, and candidate portals extend the system to the people outside your walls. For service firms, contractors, and manufacturers graduating from disconnected tools, Striven is the consolidation play that pays back in time, accuracy, and clarity.... [Read more](https://www.softwareadvice.com/project-management/striven-profile/)

### Best rated features:

Routing

5.0

Document Storage

5.0

Segmentation

5.0

Performance Management

5.0

### Worst rated features:

API

1.0

[See all features](https://www.softwareadvice.com/project-management/striven-profile/#key-features)

### Standard

$35.00/month

The plan is based on the number of users.

### Enterprise

$70.00/month

The per-user price decreases as the number of users increases.

[See full pricing details](https://www.softwareadvice.com/project-management/striven-profile/#pricing-and-plans)

### Product: Procurify

[Procurify](https://www.softwareadvice.com/accounting/procurify-profile/)

4.59

[(203)](https://www.softwareadvice.com/accounting/procurify-profile/reviews/)

Best for:Value for money

### Pricing availability

Free trial: Not available

Free version: Not available

Software Advice Summary

Procurify is a procurement and spend management software designed to automate the intake-to-pay process for organizations. It combines procurement, accounts payable, expense management, and payment workflows into a single platform supported by artificial intelligence. Used by mid-market organizations across industries such as technology, healthcare, biotech, manufacturing, consumer packaged goods, education, charter schools, and nonprofit sectors. The platform includes features that automate purchasing workflows, from request intake to receiving, invoice processing, and payment. Key functions include purchase request management, approval routing, purchase order generation, three-way matching, and automated invoice capture. Additional tools include contract management, vendor management, budget controls, spending cards for expense tracking, and PunchOut capabilities for supplier connections. Procurify offers real-time spend visibility through analytics dashboards and a Spend Analyst tool that identifies spending patterns and potential cost-saving opportunities. The iOS and Android mobile app allows users to manage procurement workflows remotely and includes receipt capture for expense reporting. Organizations can configure approval workflows, and budget controls to support financial management across departments.... [Read more](https://www.softwareadvice.com/accounting/procurify-profile/)

### Best rated features:

Data Extraction

5.0

Requisition Management

5.0

Quotes/Estimates

5.0

Customizable Reports

5.0

[See all features](https://www.softwareadvice.com/accounting/procurify-profile/#key-features)

### Product: SAP S/4HANA Cloud

[SAP S/4HANA Cloud](https://www.softwareadvice.com/accounting/sap-s-4hana-cloud-profile/)

4.35

[(358)](https://www.softwareadvice.com/accounting/sap-s-4hana-cloud-profile/reviews/)

Best for:Features

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

SAP S/4HANA Cloud is a cloud-based and on-premise enterprise resource planning (ERP) solution. It is suitable for small, midsize and large businesses in industries such as automotive, engineering, construction, mining, research and development, retail, wholesale, public sector and utilities. Primary features include finance performance measurement, supply chain management, purchasing, contract management, lifecycle management, production cost management and accounting. Other features include audit trails, compliance reporting, billing, dispute management, production planning, materials requirements planning (MRP), maintenance management, quality management, product lifecycle management, research and development. It offers integration with SuccessFactors Employee Central, Ariba, SAP Financial Services, SAP Fieldglass and SAP Hybris Cloud for Customer. Support is offered via email and over a phone. Other help options include preferred care, support portal, self-help portal, guided resources, online chat and online case submission. Mobile applications are available for iOS, Android and Windows phones.... [Read more](https://www.softwareadvice.com/accounting/sap-s-4hana-cloud-profile/)

### What users love

-   Powerful real-time data handling
-   Comprehensive cross-system connectivity
-   Robust financial process automation

### To take in mind

-   Complex and unintuitive interface
-   Steep learning and training demands
-   Occasional lag and slowdowns

### Best rated features:

Dashboard

5.0

Enterprise Asset Management

5.0

Portfolio Management

5.0

Integrated Business Operations

5.0

### Worst rated features:

BOM Creation

2.3

Distribution Management

4.0

Cost Tracking

4.0

Collaboration Tools

4.0

[See all features](https://www.softwareadvice.com/accounting/sap-s-4hana-cloud-profile/#key-features)

### Plan

Custom

Pricing available upon request

Pricing not available

[See full pricing details](https://www.softwareadvice.com/accounting/sap-s-4hana-cloud-profile/#pricing-and-plans)

### Product: Sage Accounting

[Sage Accounting](https://www.softwareadvice.com/accounting/sage-business-cloud-accounting-profile/)

4.10

[(646)](https://www.softwareadvice.com/accounting/sage-business-cloud-accounting-profile/reviews/)

Best for:On the rise

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

Sage Accounting is a cloud-based accounting and invoice management solution for small to midsize businesses. It offers accounting, project accounting, expense management and compliance management within a suite. Sage Accounting manages all the documentation and processes required for business payments such as price quotes, estimates, statements and invoices. The solution offers integration with banks across the US, allowing users to import all payment transactions automatically. All information is available on a single dashboard, which allows users to stay up to date on their cash flow and pending payments. Sage Accounting also features tax management, which calculates applicable taxes using transaction data. The product also offers cash flow forecasting, which allows users to estimate the cash requirements in the future based on historical transactions. The product also includes payment services, which allow users to make payments directly using Sage accounts. Users can also make payments using their PayPal accounts.... [Read more](https://www.softwareadvice.com/accounting/sage-business-cloud-accounting-profile/)

### What users love

-   Streamlined daily financial management
-   User-friendly and intuitive design
-   Tailored for small businesses

### To take in mind

-   Inconsistent and hard-to-reach support
-   Limited and inflexible invoicing tools
-   Reporting lacks customization options

### Best rated features:

Time Tracking

5.0

For Accountants

5.0

Data Security

5.0

Customer Statements

5.0

[See all features](https://www.softwareadvice.com/accounting/sage-business-cloud-accounting-profile/#key-features)

### Accounting Start

$20.00/month

The Sage Accounting Start plan comes with an 30-day free trial and is ideal for micro-businesses.

### Accounting Standard

$40.00/month

### Accounting Plus

$50.00/month

[See full pricing details](https://www.softwareadvice.com/accounting/sage-business-cloud-accounting-profile/#pricing-and-plans)

### Product: Focus X

[Focus X](https://www.softwareadvice.com/product/3600-focus/)

3.81

[(119)](https://www.softwareadvice.com/product/3600-focus/reviews/)

### Pricing availability

Free trial: Not available

Free version: Not available

Software Advice Summary

Focus X is an all-inclusive enterprise resource planning (ERP) system that helps you connect every aspect of your business operations. From production to supply chain, customer relationship management to inventory and human resources, it records and stores all your core business data on a centralized database. The application is more focused on the data, information and agility of the process, as well as being able to respond to a fast-moving and volatile business environment. As an AI-enabled ERP software, Focus X is endowed with advanced capabilities that have the potential to improve control over disrupted and broken financial processes, simplify finding the right vendors, make forecasting effortless, and enhance other business processes to achieve greater growth and development.... [Read more](https://www.softwareadvice.com/product/3600-focus/)

### What users love

-   Flexible and detailed reporting tools
-   Highly adaptable customization options

### To take in mind

-   Slow and unreliable support response

### Best rated features:

Online Payments

5.0

Cash Management

5.0

Project Accounting

5.0

Scheduling

5.0

### Worst rated features:

Purchasing & Receiving

1.0

[See all features](https://www.softwareadvice.com/product/3600-focus/#key-features)

### Product: NewgenONE Digital Transformation Platform

[NewgenONE Digital Transformation Platform](https://www.softwareadvice.com/accounting/newgenone-digital-transformation-platform-profile/)

### Pricing availability

Free trial: Not available

Free version: Not available

Software Advice Summary

A unified, cloud-based low-code platform for automating end-to-end processes and comprehensively managing content and communications, backed by AI-based cognitive capabilities and a robust integration ecosystem. Simplify your complex, content-driven business needs with one comprehensive low-code digital transformation platform. A unified, cloud-based, low-code platform for automating end-to-end processes and comprehensively managing content and communications, backed by AI-based cognitive capabilities and a robust integration ecosystem. The NewgenOne platform, with content management at its core, helps enterprises break down the silos between the front, middle, and back offices by simplifying the information (data) flows between those offices, functions, and departments. The NewgenOne platform includes the following: \* Low code capabilities for application development \* Process automation for end-to-end enterprise processes \* Contextual content services for creating an anywhere-anytime workplace \* Omnichannel Customer Engagement, to provide personalized customer communication, consistent across channels \* AI Cloud for informed and autonomous business decision-making \* Integration Ecosystem for data exchange across processes, applications, and systems \* Governance and Security, for keeping processes and information secure and compliant... [Read more](https://www.softwareadvice.com/accounting/newgenone-digital-transformation-platform-profile/)

### Product: Dynamics 365

[Dynamics 365](https://www.softwareadvice.com/product/106335-Dynamics-365/)

4.37

[(5834)](https://www.softwareadvice.com/product/106335-Dynamics-365/reviews/)

Best for:Small businesses

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

Microsoft Dynamics 365 is a cloud-based CRM ecosystem for small, medium and enterprise organizations, with a focus on Sales, Field Service, Customer Service complete with strong integrations with Microsoft’s other Office 365 offerings like Teams, Outlook, Excel & Word. The Microsoft Dynamics 365 ecosystem has offerings ranging from lead and opportunity management, marketing, field service, IOT, customer service, mixed reality and project service automation all allowing for a more frictionless engagement with your customers. Microsoft Dynamics CRM is available for software-as-a-service (SaaS) deployment as well as on-premises complete with a nice user interface for mobile and desktop as well as a technology stack that ensure database security. Dynamics 365 also offers strong API capabilities to help integrate to your other critical systems.... [Read more](https://www.softwareadvice.com/product/106335-Dynamics-365/)

### What users love

-   User-friendly and intuitive interface
-   Seamless Microsoft ecosystem integration
-   Comprehensive workforce management tools

### To take in mind

-   Expensive licensing and add-ons
-   Complex and limited customization options
-   Steep learning curve for users

### Best rated features:

Financial Analysis

5.0

Trend Analysis

5.0

For Call Centers

5.0

For Real Estate

5.0

### Worst rated features:

Lead Scoring

3.5

Sales Trend Analysis

3.8

Prospecting Tools

3.9

API

3.9

[See all features](https://www.softwareadvice.com/product/106335-Dynamics-365/#key-features)

### Professional

$50.00/month

### Enterprise

$105.00/month

### Premium

$195.00/month

[See full pricing details](https://www.softwareadvice.com/product/106335-Dynamics-365/#pricing-and-plans)

### Product: Elorus

[Elorus](https://www.softwareadvice.com/accounting/elorus-profile/)

4.91

[(324)](https://www.softwareadvice.com/accounting/elorus-profile/reviews/)

Best for:Value for money

### Pricing availability

Free trial: Available

Free version: Available

Software Advice Summary

Elorus is an online invoicing, time-tracking, billing and expense management platform. At heart, it is the ideal professional solution for every freelancer, small business and creative agency. Since 2014, Elorus has been working hard to be a trustworthy ally that successfully tends to every modern professional's business needs. With Elorus by your side, you are just a few steps away from creating and sending flawless professional estimates and invoices to your clientele. Users can have a close look at their team's projects, billable/non-billable hours and tasks. Elorus helps staff members be an expense expert and manage budgets like a pro. Teams can get paid online through trusted payment processors, use the dedicated portal to share progress with clients, make educated decisions based on detailed reports and feel safe that they will receive the optimum customer service. Get started with the product's free plan, monthly or yearly subscription and find out how Elorus can assist your business.... [Read more](https://www.softwareadvice.com/accounting/elorus-profile/)

### Best rated features:

Reimbursement Management

5.0

Accounts Payable

5.0

Electronic Payments

5.0

Document Storage

5.0

### Worst rated features:

Task Management

3.0

Reporting/Analytics

3.9

[See all features](https://www.softwareadvice.com/accounting/elorus-profile/#key-features)

### Free

$0.00

6$ per extra user

### Starter

$9.00/month

6$ per extra user

### Standard

$19.00/month

6$ per extra user

[See full pricing details](https://www.softwareadvice.com/accounting/elorus-profile/#pricing-and-plans)

### Product: Zoho Invoice

[Zoho Invoice](https://www.softwareadvice.com/accounting/zoho-invoice-profile/)

4.73

[(823)](https://www.softwareadvice.com/accounting/zoho-invoice-profile/reviews/)

Best for:Billing & Invoicing

### Pricing availability

Free trial: Available

Free version: Available

Software Advice Summary

Zoho Invoice is a 100% free cloud-based invoicing solution designed to help small businesses with invoicing, tracking expenses and accepting online payments.Key features include project billing, time tracking, reporting, customizable templates and, a client portaI. Teams using Zoho Invoice can track estimates, convert them to invoices, and send reminders to clients to complete their outstanding payments. Additionally, users can create tasks, collect advance payments for projects, and keep track of their invoice history. It is available in multiple languages including Arabic, Bahasa Indonesia, Bulgarian, Croatian, Dutch, English, French, German, Italian, Japanese, Korean, Chinese (Simplified), Portuguese, Spanish, Swedish, Thai, and Vietnamese. It allows integration with various third-party applications such as Slack, Office 365, Google Workspace, and more. Zoho Invoice caters to the needs of every size of business, especially small businesses. It provides an efficient invoicing solution for generating and sending professional invoices within a matter of minutes.... [Read more](https://www.softwareadvice.com/accounting/zoho-invoice-profile/)

### What users love

-   Flexible invoicing and customization options
-   User-friendly and intuitive interface
-   Free and affordable invoicing solution

### To take in mind

-   Complex navigation and configuration
-   Limited and outdated email features

### Best rated features:

Project Billing

5.0

Data Security

5.0

Customizable Branding

5.0

Reporting & Statistics

5.0

### Worst rated features:

Recurring Invoicing

4.0

Client Portal

4.0

Timesheet Management

4.0

[See all features](https://www.softwareadvice.com/accounting/zoho-invoice-profile/#key-features)

### Basic

$0.00

Up to 2 users

[See full pricing details](https://www.softwareadvice.com/accounting/zoho-invoice-profile/#pricing-and-plans)

### Product: TimeSolv Legal Billing

[TimeSolv Legal Billing](https://www.softwareadvice.com/product/423485-TimeSolv-Legal-Billing/)

4.71

[(647)](https://www.softwareadvice.com/product/423485-TimeSolv-Legal-Billing/reviews/)

Best for:Ease of use

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

TimeSolv is a cloud-based legal time tracking and billing solution that caters to law firms, accountants, consultants, architects, and freelancers, helping them manage daily business operations. TimeSolv integrates project management features such as time tracking and assigning tasks with billing functionality, allowing users to track billable hours and budget in real time. It also provides case management features and document management tools to help organize and store data. Users can utilize a document automation feature for auto-filling standard formatted documents. It offers a suite of billing functions, including invoicing, batch billing and integration with LawPay, allowing users to pay their bill online. Users can upload images of receipts to invoice files. TimeSolv also provides reports so law managers or practitioners can track their billable hours over weeks or months. TimeSolv offers two-way integration with QuickBooks, as well as integrations with Xero Accounting, Dropbox and NetDocuments. It offers Android and iOS apps for remote usage. Services are offered on a monthly subscription basis that includes support via phone and email.... [Read more](https://www.softwareadvice.com/product/423485-TimeSolv-Legal-Billing/)

### What users love

-   Intuitive and user-friendly interface
-   Responsive and hands-on support team
-   Flexible and efficient billing workflows

### To take in mind

-   Invoice customization and usability issues

### Best rated features:

Document Capture

5.0

Third-Party Integrations

5.0

Fee Calculation & Posting

5.0

Archiving & Retention

5.0

### Worst rated features:

Reporting/Analytics

3.0

Collaboration Tools

3.0

Activity Dashboard

3.3

[See all features](https://www.softwareadvice.com/product/423485-TimeSolv-Legal-Billing/#key-features)

### TimeSolv Legal (1-4 Users)

$47.50/month

The plan can be billed on a monthly or annual subscription. Volume discounts apply.

### TimeSolv Legal (5-14 Users)

$45.12/month

The plan is billed on a monthly subscription.

### TimeSolv Legal (15+ Users)

$42.74/month

The plan is billed on a monthly subscription.

[See full pricing details](https://www.softwareadvice.com/product/423485-TimeSolv-Legal-Billing/#pricing-and-plans)

### Product: ePayPolicy

[ePayPolicy](https://www.softwareadvice.com/insurance/epaypolicy-profile/)

4.88

[(258)](https://www.softwareadvice.com/insurance/epaypolicy-profile/reviews/)

Best for:Customer support

### Pricing availability

Free trial: Available

Free version: Available

Software Advice Summary

ePayPolicy is a payment processing solution designed to help businesses in the insurance sector collect credit card and ACH payments from policyholders. The centralized dashboard enables administrators to track transactions, access electronic receipts, control user permissions, and check transaction status in real time. ePayPolicy provides organizations with a payment page and allows them to add a custom logo and colors in sync with their brand. Clients can also upload documents through their payment page and set up recurring payments. Managing general agents (MGAs) can use the batch processing functionality to send electronic commissions and refund checks to agents and partners. ePayPolicy offers an API, which lets businesses integrate the system with several third-party platforms such as FinancePro, Veruna, Jetfile, Novidea, QQCatalyst, Sagitta, and more.... [Read more](https://www.softwareadvice.com/insurance/epaypolicy-profile/)

### What users love

-   Flexible and secure payment options
-   Intuitive and user-friendly interface
-   Responsive and helpful support team

### To take in mind

-   High transaction and service fees

### Best rated features:

Invoice Management

5.0

Recurring/Subscription Billing

5.0

Multiple Payment Options

5.0

Compliance Management

5.0

### Worst rated features:

Customizable Fields

4.0

Recurring Invoicing

4.0

[See all features](https://www.softwareadvice.com/insurance/epaypolicy-profile/#key-features)

### Basic

$25.00/month

[See full pricing details](https://www.softwareadvice.com/insurance/epaypolicy-profile/#pricing-and-plans)

### Product: Agiled

[Agiled](https://www.softwareadvice.com/project-management/agiled-profile/)

4.73

[(350)](https://www.softwareadvice.com/project-management/agiled-profile/reviews/)

Best for:Invoice Creation

### Pricing availability

Free trial: Available

Free version: Available

Software Advice Summary

Agiled is an all in one business management platform. It comes with built-in CRM, HRM, Financial Management, Project Management and Time Tracking. Users can manage all of their business in one place and provide a client portal access to their customers. Agiled can be customized according to the business needs. Users can manage projects and invite their team to update tasks and progress. Support is extended via live chat, email, documentation, FAQs and an inquiry form.... [Read more](https://www.softwareadvice.com/project-management/agiled-profile/)

### Best rated features:

Multiple Billing Rates

5.0

Issue Management

5.0

Completion Tracking

4.8

Employee Database

4.8

### Worst rated features:

Reminders

3.0

Customizable Templates

3.8

Team Collaboration

4.0

Automatic Time Capture

4.0

[See all features](https://www.softwareadvice.com/project-management/agiled-profile/#key-features)

### Basic

$0.00

### Pro

$30.00/month

$25/month when billed annually.

### Premium

$59.00/month

$49/month when billed annually.

[See full pricing details](https://www.softwareadvice.com/project-management/agiled-profile/#pricing-and-plans)

### Product: QuickBooks Enterprise

[QuickBooks Enterprise](https://www.softwareadvice.com/construction/qb-desktop-enterprise-profile/)

4.51

[(20659)](https://www.softwareadvice.com/construction/qb-desktop-enterprise-profile/reviews/)

Best for:Ease of use

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

QuickBooks Enterprise is an accounting solution designed for SMBs across different industry verticals such as construction, nonprofit distribution, manufacturing, and retail. With QB Enterprise solution, any business owner can expand business operations using advanced inventory, reporting, and invoice tools, in addition to premium support from Enterprise's CS and Payroll teams. Quickbooks includes inventory management, inventory tracking, expense tracking, payroll management, invoicing, multi-user management, advanced reporting tools, and more. QuickBooks Enterprise offers customizable reporting tools that help users analyze data and make informed business decisions. With over 200+ auto-filled templates and 70 industry-specific reports, this Quickbooks accounting software helps businesses find the QuickBooks data to solve any business issue. Quickbooks advanced inventory tools allow businesses to gain visibility and control over the inventory management process with the ability to track inventory movement, automatically scan and update inventory items, manage any purchase order/sales order from one dashboard, and plenty more. QuickBooks Enterprise also allows businesses to control, customize, and automate financial transactions with job costing tools, batch invoicing, invoice tracking, cash flow management, fixed asset tracking, sales tracking, payment processing, and more. Businesses also have to ability to scan and attach multiple documents including receipts and quotes for multiple accounting tasks. The tool enables businesses to arrange documents into categories and keep track of important accounting files. This solution also maintains a change log to record changes within each document with the proper date and time stamp. QB also offers different QuickBooks software such as QuickBooks Premier and QuickBooks Pro that includes include different functionality and features.... [Read more](https://www.softwareadvice.com/construction/qb-desktop-enterprise-profile/)

### What users love

-   Flexible setup and onboarding support
-   Comprehensive accounting for businesses
-   Detailed and customizable reporting tools

### To take in mind

-   Inconsistent and slow customer service
-   Bank syncing and reconciliation issues
-   Expensive for smaller businesses

### Best rated features:

Due Date Tracking

5.0

For Schools

5.0

For Residential

5.0

Electronic Signature

5.0

### Worst rated features:

BIM Modeling

2.0

SKU/UPC Codes

3.3

[See all features](https://www.softwareadvice.com/construction/qb-desktop-enterprise-profile/#key-features)

### Gold

$2,210.00/year

Up to 30 users.

### Platinum

$2,717.00/year

Up to 30 users.

### Diamond

$5,264.00/year

Up to 40 users.

[See full pricing details](https://www.softwareadvice.com/construction/qb-desktop-enterprise-profile/#pricing-and-plans)

### Product: FloQast

[FloQast](https://www.softwareadvice.com/accounting/floqast-profile/)

4.87

[(106)](https://www.softwareadvice.com/accounting/floqast-profile/reviews/)

Best for:Features

### Pricing availability

Free trial: Not available

Free version: Not available

Software Advice Summary

FloQast, an Accounting Automation Platform created by accountants for accountants, enables organizations to automate a variety of accounting operations. Trusted by more than 2,800 global accounting teams – including Twilio, Los Angeles Lakers, Zoom, and Snowflake – FloQast enhances the way accounting teams work, enabling customers to automate close management, account reconciliations, accounting operations, and compliance activities. With FloQast, teams can utilize the latest advancements in AI technology to manage aspects of the close, reduce their compliance burden, stay audit-ready, and improve accuracy, visibility, and collaboration overall. FloQast is consistently rated #1 across all user review sites. Learn more at FloQast.com.... [Read more](https://www.softwareadvice.com/accounting/floqast-profile/)

### Best rated features:

Multi-Company

5.0

Audit Management

5.0

Financial Consolidation & Close Management

5.0

Due Date Tracking

5.0

### Worst rated features:

Project Management

4.0

[See all features](https://www.softwareadvice.com/accounting/floqast-profile/#key-features)

### Product: Invoice Ninja

[Invoice Ninja](https://www.softwareadvice.com/accounting/invoice-ninja-profile/)

4.74

[(166)](https://www.softwareadvice.com/accounting/invoice-ninja-profile/reviews/)

Best for:Customer support

### Pricing availability

Free trial: Available

Free version: Available

Software Advice Summary

Create. Send. Get Paid. Invoice Ninja is the leading small-business platform to invoice, accept payments, track expenses & time tasks. Designed for freelancers and small to medium size businesses, Invoice Ninja is a suite of apps to help you get paid. Incredibly easy to use Invoice Ninja was built to serve freelancers and business owners with a complete suite of invoicing & payment tools to advance your business. Invoicing & Payments Every feature is geared towards accurate and secure invoicing and getting you paid. Instead of using Word and Excel docs, nondescript PayPal forms or overpriced software, with Invoice Ninja you can send beautiful branded invoices with minimum of effort and maximum professionalism. Time Tracker & Projects The feel of desktop software but with the power of a web-based app. The time-tracker app can either launched from within your online Invoice Ninja account, or using a downloaded desktop icon. Just click, and begin! Create projects and individual tasks per project. When done, simply “Send task to invoice” and all details will be sent ready for your clients to pay! Track Vendors & Expenses With Invoice Ninja, all your earnings, expenses, clients and vendors are stored and managed in one system. Categorize your vendors & re-invoice expenses to clients, or simply run expense reports. All of these features combine to help you receive the money you deserve and reduce the amount of time you spend on repetitive invoicing tasks. Spend less time on paperwork and more time at your craft.... [Read more](https://www.softwareadvice.com/accounting/invoice-ninja-profile/)

### Best rated features:

Invoice Management

5.0

Multi-Currency

5.0

Mobile App

5.0

Partial Payments

5.0

### Worst rated features:

Credit Card Processing

3.0

[See all features](https://www.softwareadvice.com/accounting/invoice-ninja-profile/#key-features)

### Forever Free

$0.00

The plan is free forever.

### Ninja Pro

$10.00/month

The plan includes a 14-day free trial.

### Enterprise

$14.00/month

The plan includes a 30-day guarantee. The plan price depends upon the number of users: 1-2 users - $14/month 3-4 users - $26/month 6-10 users - $36/month 11-20 users - $44/month... [Read more](https://www.softwareadvice.com/accounting/invoice-ninja-profile/#pricing-and-plans)

[See full pricing details](https://www.softwareadvice.com/accounting/invoice-ninja-profile/#pricing-and-plans)

### Product: ZarMoney

[ZarMoney](https://www.softwareadvice.com/accounting/zarmoney-profile/)

4.68

[(95)](https://www.softwareadvice.com/accounting/zarmoney-profile/reviews/)

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

ZarMoney is a cloud-based comprehensive accounting solution for businesses of all sizes. It offers various features such as inventory management, billing and invoicing, automated accounting controls, text and email alerts, a customizable dashboard, advanced user permissions, and report creation. ZarMoney is designed to help businesses increase productivity while reducing costs and errors from manual processes. This solution can track all expenses and profits from one centralized platform. ZarMoney integrates with Shopify, Stripe, Zapier, Gusto, Mailchimp, plus other platforms to enhance data syncs and sharing. Pricing is per user on a monthly subscription basis. Support is available via ZarMoney Academy and an online help center.... [Read more](https://www.softwareadvice.com/accounting/zarmoney-profile/)

### Best rated features:

Real-Time Data

5.0

Dashboard

5.0

For Small Businesses

5.0

Credit Card Processing

5.0

### Worst rated features:

Vendor Management

1.0

[See all features](https://www.softwareadvice.com/accounting/zarmoney-profile/#key-features)

### Entreprenuer

$15.00/month

Only allows for 1 user with unlimited transactions

### Small Business

$20.00/month

Includes 2 users with $10 for each additional user

### Enterprise

$350.00/month

Allows 30+ users with custom features

[See full pricing details](https://www.softwareadvice.com/accounting/zarmoney-profile/#pricing-and-plans)

### Product: TopNotepad

[TopNotepad](https://www.softwareadvice.com/accounting/topnotepad-profile/)

4.63

[(106)](https://www.softwareadvice.com/accounting/topnotepad-profile/reviews/)

Best for:Ease of use

### Pricing availability

Free trial: Available

Free version: Available

Software Advice Summary

TopNotepad is a cloud-based accounting management solution that offers invoicing, expense management, payment management and customer relationship management. Users can create invoices with built-in templates and log payments using client lists. Users can also log expenses using customized categories. The TopNotepad mobile app allows users to upload receipts for expense reports. TopNotepad features a cash book, which records business transactions on a day-to-day basis. The cash book is then used to create balance sheets and P&L reports. The software also features estimates and quotations, which enables users to create estimates and convert them into invoices. With the help of email functionality, users can email invoices directly to clients. Three different pricing options are available based on number of users and amount of data storage.... [Read more](https://www.softwareadvice.com/accounting/topnotepad-profile/)

### Best rated features:

For Small Businesses

5.0

Reminders

5.0

Purchasing & Receiving

5.0

Vendor Management

5.0

### Worst rated features:

Contact Database

4.0

Dunning Management

4.0

[See all features](https://www.softwareadvice.com/accounting/topnotepad-profile/#key-features)

### Basic

$12.50/month

[See full pricing details](https://www.softwareadvice.com/accounting/topnotepad-profile/#pricing-and-plans)

### Product: Prophix One

[Prophix One](https://www.softwareadvice.com/accounting/prophix-profile/)

4.57

[(127)](https://www.softwareadvice.com/accounting/prophix-profile/reviews/)

Best for:Value for money

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

Prophix is a financial management solution used for financial consolidation, budgeting, analysis, planning and management reporting. The solution provides a spreadsheet-style interface that helps users to analyze financial data and organize information. Prophix can be deployed both cloud and on-premises and is suitable for a range of industries such as financial services, construction, government, and utilities. Prophix lets users manage information such as budgeting requirements, cash flow, balance sheets and income statements. Data analysis tools are also available. The solution supports both non-financial and financial budgeting, including top down, bottom up, zero-based and activity-based methodologies. The solution offers multiple modeling options for forecasting such as inter-period forecasts, "‘what-if" analysis and rolling forecasts. It also provides modules for saving personnel records, such as salary, medical expenses and tax calculations. Support is offered via phone and email.... [Read more](https://www.softwareadvice.com/accounting/prophix-profile/)

### Best rated features:

Goal Setting/Tracking

5.0

Financial Management

5.0

Modeling & Simulation

5.0

Multi-Department/Project

5.0

### Worst rated features:

OLAP

1.0

Dashboard

2.0

Third-Party Integration

3.0

[See all features](https://www.softwareadvice.com/accounting/prophix-profile/#key-features)

### Basic

$1.00

[See full pricing details](https://www.softwareadvice.com/accounting/prophix-profile/#pricing-and-plans)

### Product: Cloud ERP

[Cloud ERP](https://www.softwareadvice.com/distribution/bizautomation-distribution-profile/)

4.87

[(30)](https://www.softwareadvice.com/distribution/bizautomation-distribution-profile/reviews/)

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

Cloud ERP Software is an enterprise resource planning solution that integrates core business management functions into a single platform. It is designed for small to medium-sized businesses, particularly those in distribution and manufacturing sectors that manage supply chains involving logistics for buying, selling, shipping, and warehousing goods. It also supports businesses that sell through retail or distribution channels and those involved in manufacturing, configuring, or assembling finished goods. The software includes Data-Mirror technology for real-time streaming replication, enabling faster performance on complex queries. Its architecture uses T-SQL stored procedures to reduce API overhead and enhance system performance. The platform provides a complete suite of integrated applications, including Order Management, Supply Chain Management, Inventory and Warehouse Management, Multi-Entity Accounting, CRM, Manufacturing, Project Management, and ERP Ecommerce. Built-in artificial intelligence features deliver business insights and workflow automation to improve operational efficiency. The system supports scalability for businesses of varying sizes, accommodating a wide range of users without concurrent user limitations. It allows customizable workflows for shipping rules, order processing, and document management to align with specific business needs.... [Read more](https://www.softwareadvice.com/distribution/bizautomation-distribution-profile/)

### Best rated features:

Reporting/Analytics

5.0

Product Identification

5.0

Accounts Receivable

5.0

Accounting

5.0

### Worst rated features:

Sales Tax Management

4.0

Sales Pipeline Management

4.0

[See all features](https://www.softwareadvice.com/distribution/bizautomation-distribution-profile/#key-features)

### BizAutomation Pricing

$99.95/month

BizAutomation offers one general pricing plan of $79.95 per user per month for one year. Additional add-ons include third party integrations, BizCommerce, multi-channel connect, BizIQ, and invoice broadcasting.... [Read more](https://www.softwareadvice.com/distribution/bizautomation-distribution-profile/#pricing-and-plans)

[See full pricing details](https://www.softwareadvice.com/distribution/bizautomation-distribution-profile/#pricing-and-plans)

### Product: Lendio

[Lendio](https://www.softwareadvice.com/accounting/lendio-profile/)

4.51

[(211)](https://www.softwareadvice.com/accounting/lendio-profile/reviews/)

Best for:Value for money

### Pricing availability

Free trial: Available

Free version: Available

Software Advice Summary

Sunrise is a cloud-based accounting application for small businesses and freelancers in all industries. Primary features include billing, invoicing, quote management, contact management, accounting, expense management and financial reporting. Other features include estimate creation, discount and refund processing, bank reconciliation, bank statement import, tax management and multiple-currency support. The software enables users to create customized invoices, mail them to clients and receive online payments. Sunrise also has a recurring invoice feature that automatically sends invoices to clients and charges their credit card. The software can add discounts when applicable and processes refunds. The tax management module automatically adds taxes depending on the client’s location. The financial reporting module generates profit and loss reports, balance sheets, tax summaries, customer statements, accounts receivable and other reports. Pricing is per month, and mobile applications for Android and iOS devices are available. Support is offered via phone and email.... [Read more](https://www.softwareadvice.com/accounting/lendio-profile/)

### Best rated features:

General Ledger

1.0

Payment Processing

1.0

Invoice History

1.0

Customizable Invoices

1.0

### Worst rated features:

Tax Calculation

1.0

Online Invoicing

1.0

Invoice Creation

1.0

Mobile Payments

1.0

[See all features](https://www.softwareadvice.com/accounting/lendio-profile/#key-features)

### Free Self-Service

$0.00/month

The plan has a processinf fee of- 3.55% + $0.30 per CC transaction 1.5% + $0.30 per ACH transaction.

### Sunrise Plus

$19.99/month

The plan has a processinf fee of- 2.55% + $0.30 per CC transaction 0.5% + $0.30 per ACH transaction.

[See full pricing details](https://www.softwareadvice.com/accounting/lendio-profile/#pricing-and-plans)

### Product: ZipBooks

[ZipBooks](https://www.softwareadvice.com/accounting/zipbooks-profile/)

4.53

[(114)](https://www.softwareadvice.com/accounting/zipbooks-profile/reviews/)

Best for:Value for money

### Pricing availability

Free trial: Available

Free version: Available

Software Advice Summary

ZipBooks is a cloud-based solution designed to streamline accounting, invoicing and financial management processes for small businesses. The platform offers a range of features tailored to streamline complex financial tasks and provide valuable insights to users. The accounting functionality of ZipBooks streamlines bookkeeping and reporting tasks with a user-friendly interface and intelligent automation features. Users can organize transactions, track expenses and reconcile accounts. The platform’s intuitive design and automation enable users to manage their finances without advanced accounting knowledge. Additionally, ZipBooks supports bank connections, allowing users to link their accounts for real-time transaction tracking and reconciliation. ZipBooks helps streamline the billing and invoicing process by allowing users to create both one-time and recurring invoices and accept payments via major credit cards or PayPal. Additionally, the platform offers automated payment reminders and integrates billing seamlessly into financial records, enabling faster and more efficient payment processing. The capabilities of ZipBooks leverage data analytics to provide users with valuable business insights and predictions. Through smart insights, reports and predictions, businesses can identify trends, track key performance metrics and make informed decisions. Additionally, the platform's intelligence goes beyond historical reports to automate, predict and advise, providing actionable insights based on several data points. ZipBooks offers smart and automated expense tracking, enabling users to categorize transactions, generate income statements and customize accounting reports based on specific tags. The platform provides team management functionalities, allowing for collaboration and delegation of tasks within the software. Additionally, users can manage team permissions on reports, invoicing, billing and time tracking for enhanced productivity. ZipBooks' mobile accounting feature enables users to manage their business on the go, with the ability to send invoices, mark payments, store receipts, and categorize expenses through a mobile web experience or native mobile application. Additionally, it helps optimize workflow and ensures users can stay on top of their financial management tasks even while not in the office. ZipBooks stands out for its user-friendly interface, which simplifies even the most complex financial tasks. The platform's automation features and real-time transaction tracking help users save time and reduce manual errors in accounting processes. With ZipBooks, businesses can streamline their invoicing, billing and expense tracking in a single, integrated solution. ZipBooks offers a mobile-friendly web experience and a native mobile application. This allows users to manage their business finances from anywhere, whether it's sending invoices, marking payments or categorizing expenses. Additionally, with its user-friendly interface and powerful features, ZipBooks is designed to streamline accounting and financial management for small businesses and freelancers.... [Read more](https://www.softwareadvice.com/accounting/zipbooks-profile/)

### Best rated features:

Accounts Payable

5.0

Accounts Receivable

5.0

Purchase Order Management

5.0

Inventory Management

5.0

### Worst rated features:

Reporting & Statistics

3.5

Financial Reporting

3.9

Reporting/Analytics

4.0

[See all features](https://www.softwareadvice.com/accounting/zipbooks-profile/#key-features)

### Starter

$0.00

### Smarter

$15.00/month

### Sophisticated

$35.00/month

[See full pricing details](https://www.softwareadvice.com/accounting/zipbooks-profile/#pricing-and-plans)

### Product: Doxis AI.dp

[Doxis AI.dp](https://www.softwareadvice.com/accounting/klippa-profile/)

4.77

[(31)](https://www.softwareadvice.com/accounting/klippa-profile/reviews/)

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

Doxis AI.dp is a cloud-based Intelligent Document Processing solution. This advanced technology uses Optical Character Recognition (OCR) to extract data, convert, classify, and verify documents to automate workflows, while also detecting fraud, masking data, and ensuring compliance with security standards. With Doxis AI.dp, you'll enjoy a wide range of benefits that will revolutionize your business operations. The software's fast and accurate text recognition and data extraction capabilities can handle a vast variety of document types, from invoices and receipts to various identity documents, such as passports and ID cards. The software's advanced fraud detection technology is designed to catch fraudulent documents, ensuring the security and integrity of your data. The API allows for automated parsing of documents for useful data, making it easy to extract the information you need. The OCR engine also automatically verifies the authenticity of documents, saving you time and preventing errors. Our powerful machine learning algorithms automatically classify, label, and sort documents, making it easy to find and organize your files. Doxis AI.dp eliminates tedious and repetitive administrative tasks, streamlining data entry processes and saving you valuable time which can be better spent on tasks that matter. Doxis AI.dp also offers advanced features that can transform your Know-Your-Customer (KYC) processes. The OCR technology allows for seamless client and customer onboarding, removing bottlenecks and improving the customer experience. Our software also offers fully automated data masking, anonymization, and redaction with artificial intelligence, ensuring that sensitive information is kept private and secure. The automated data discovery and inventory feature will save you time and money, by allowing you to quickly and easily find and organize your files. The document conversion capabilities allow you to convert documents to and from various formats, such as CSV, XLSX, XML, UBL, PDF, or JSON. Klippa DocHorizon is fully customizable to meet your specific needs, allowing you to tailor it to your unique business requirements. Doxis AI.dp's 3-step process is easy and efficient, allowing you to complete your document processing within seconds. Simply submit a picture or scanned document to the API by uploading it to the DocHorizon platform, the OCR engine converts the image to a TXT file and the parser converts the TXT file into structured data using machine learning techniques, then returns the preferred output format to a chosen location. Additional options are available for further processing, classification, and verification with third-party sources, and the output can be delivered in a format of your choice to your desired location (API, email, FTP, etc.). With Doxis AI.dp, you'll be able to focus on your core business and leave the tedious and repetitive tasks to the software.... [Read more](https://www.softwareadvice.com/accounting/klippa-profile/)

### Best rated features:

Auto Extraction

5.0

Document Conversion

5.0

Third-Party Integrations

5.0

Workflow Configuration

5.0

[See all features](https://www.softwareadvice.com/accounting/klippa-profile/#key-features)

### Custom

Custom

Pricing available upon request

[See full pricing details](https://www.softwareadvice.com/accounting/klippa-profile/#pricing-and-plans)

### Product: Accounting Xpert Enterprise Edition

[Accounting Xpert Enterprise Edition](https://www.softwareadvice.com/accounting/xpert-profile/)

4.69

[(39)](https://www.softwareadvice.com/accounting/xpert-profile/reviews/)

### Pricing availability

Free trial: Available

Free version: Not available

Software Advice Summary

Accounting Xpert is an on-premise accounting solution that serves businesses of all sizes. Primary features of the software include a general ledger, accounts receivables and payables, payroll, W2 and 1099 laser processing, bank reconciliation and inventory management. Other features of Accounting Xpert include purchase order management, sales order management, sales analysis, data import from QuickBooks and a check writing system. The software allows users to maintain and print their general ledger for historical dates, range of accounts and check number. The software offers other predefined financial reports formats, such as single or double underlining, titles, totals, non-print accounts, account description, heading, footnote and columns. It offers integration with Microsoft Word, Microsoft Excel, Quicken and QuickBooks. Accounting Xpert is available in an one-time payment option. Customer support is offered via email, phone and online FAQs.... [Read more](https://www.softwareadvice.com/accounting/xpert-profile/)

### Best rated features:

Expense Tracking

5.0

Bank Reconciliation

5.0

Check Printing

5.0

Accounts Payable

5.0

### Worst rated features:

Direct Deposit

4.0

Payroll Reporting

4.0

[See all features](https://www.softwareadvice.com/accounting/xpert-profile/#key-features)

### Basic

$1,595.00one time

[See full pricing details](https://www.softwareadvice.com/accounting/xpert-profile/#pricing-and-plans)

1

[2](https://www.softwareadvice.com/accounting/insurance-software-comparison/?page=2)[3](https://www.softwareadvice.com/accounting/insurance-software-comparison/?page=3)[4](https://www.softwareadvice.com/accounting/insurance-software-comparison/?page=4)

## Popular Comparisons

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QuickBooks Online vs QuickBooks Enterprise

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Zoho Invoice vs Wave

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## Send me a copy of this list to my inbox

### Get a copy of this list with pricing info sent to your inbox so you can pick up where you left off when convenient to you.

Insurance agencies that don’t have a good software system in place are missing out on a host of benefits that can make them more productive and profitable. After all, there’s a great deal to be done in their offices. In addition to managing policies, serving current clients and seeking new prospects, professionals must make time to analyze the firm’s financial activities to better plan for continued growth. Insurance accounting software can help with that.

The right solution should make it easy to perform important accounting functions in one intuitive, integrated system. You shouldn’t have to use different vendors for accounts receivable, payroll and budgeting applications. When all your data is in one place, your reporting will be more accurate and faster to obtain.

In this guide, we cover the functionality insurance providers should be aware of when evaluating a new system, as well as best practices for comparing solutions. Potential buyers will also learn the difference between the two main software deployment options available in today’s market.

Here's what we'll discuss:

-   [What is insurance accounting software?](#Whatisinsuranceaccountingsoftware)
    
-   [What are common features of insurance accounting software?](#Whatarecommonfeaturesofinsuranceaccountingsoftware)
    
-   [What are the benefits of insurance accounting software?](#Whatarethebenefitsofinsuranceaccountingsoftware)
    
-   [What should you consider while evaluating insurance accounting software?](#Whatshouldyouconsiderwhileevaluatinginsuranceaccountingsoftware)
    
-   [What are the deployment options for insurance accounting software?](#Whatarethedeploymentoptionsforinsuranceaccountingsoftware)
    

## What is insurance accounting software?

Insurance accounting systems make it possible for agencies to have a “paperless” office, meaning documentation is stored digitally.

Software is capable of incorporating multiple payers in a policy, policies in multiple currencies and carriers with multiple brands into an organized and accessible information system. It can help target individual information as well; open item features can help insurers match payments to individual charges. The ability to process heavy amounts of data quickly is especially important due to high complexity and volume of data.

It’s important to acknowledge that this may not be your first time researching insurance accounting software. In a recent survey of accounting software buyers, we found 58 percent of respondents were hoping to replace or upgrade their current solution.

One of the main signs the time is right for an IT replacement is if you feel like you’ve outgrown your current setup. When your provider is no longer able to support the amount of data your company has in its files, you should start looking for a system that is able to scale with you as you grow.

## What are common features of insurance accounting software?

In addition to core modules and CRM/billing features like open item accounting and collections control, insurance accounting software may include some of the following:

**Core accounting**

This includes all of the basic functions needed to balance your agency’s books, such as general ledger functionality, the ability to track [accounts payable (A/P)](https://www.softwareadvice.com/accounting/accounts-payable-comparison/) and [accounts receivable (A/R)](https://www.softwareadvice.com/accounting/accounts-receivable-comparison/), fixed assets and bank reconciliation.

**Integration with insurance systems**

The most advanced systems will incorporate the accounting with the insurance features and functionality. Even dedicated accounting solutions, however, should integrate with popular solutions like Majesco and StoneRiver.

**Document management**

Insurance companies deal with many different kinds of documents, so it’s important to have a system that manages those efficiently. Effective document management for an insurance software program will support cataloguing, template-based document creation, advanced viewing/annotating/archiving, multi-lingual translations and multiple distribution options like email, fax or postal.

**Policy workflow**

Insurance software should be able to follow the customer through the entire process from lead generation and the initial quote through to underwriting and issuing the policy. From there, it needs to support billing/payments, policy changes, amendments, legal changes and direct integration into the claims process.

**Claims processing**

Effective claims management makes for a more accurate and efficient claim workflow process. This feature will include online support to open the claim, irregularities and fraud detection, secure payments, subrogation and other claims-related functionality.

**Audit management**

Insurance accounting software eliminates the paper and the field worker associated with the audit process, managing electronic receipts, audit requests and progress reports faster and more reliably.

## What are the benefits of insurance accounting software?

Here are some of the benefits insurance companies can capitalize on after implementing accounting software:

**Improved productivity.** Staff has more time to focus on serving clients and growing the business when they can rely on software to automate daily, time-consuming tasks. This is especially true for first-time software buyers who are switching to a digital system after years of entering data manually. Most systems have developed native mobile apps and enable remote access, which make it easier for employees to submit information and evaluate the business’ books remotely.

**Greater visibility into company finances.** Executives will be able to make more informed decisions for the agency’s future when they have a clearer picture of its financial trends. Many systems have robust reporting capabilities that allow executives to drill down on every detail related to cash flow management.

**More accurate budgeting.** When data is on different systems, it takes a great deal of time and effort to format it and generate budgets. You also run the risk of missing line items while transferring data. Software allows users to automate and consolidate information so they no longer have to update multiple spreadsheets.

## What should you consider while evaluating insurance accounting software?

The frequent periods of many complex transactions make access to technical support an important feature to consider in order to avoid confusing setbacks. Viewing payment terms and schedules should also be a prominent feature of any software package. Billing and collection process tools are useful as well.

When evaluating these systems, buyers should consider the following:

-   Does it handle multiple carrier brands and multiple payers?
    
-   Does it support examination of data on an individual basis?
    
-   Is reliable technical support provided? Is there a fee?
    
-   Does the package support scheduling and billing features?
    

Potential buyers should also pay special attention to how many training services a vendor provides. You may be impressed with a product’s many features during the demo phase of the selection process, only to discover it’s extremely difficult to learn how to access those features.

Set yourself up for a smooth implementation by noting the vendor’s training resources for your team. These may include online guides, tutorial videos, webinars and classes.

## What are the deployment options for insurance accounting software?

There are two main deployment options for insurance accounting software:

-   **Software as a Service (SaaS).** This is also known as “web-based” or “cloud-based” software that is hosted remotely on the vendor’s servers.
    
-   **On-premise.** This is software that is hosted in-house on the user’s own servers.
    

Accounting systems have traditionally been on-premise, but there’s recently been a rise in the popularity of cloud-based solutions. That’s because they offer remote access and lower upfront costs. The benefit of an on-premise deployment, on the other hand, is that users won’t have to pay recurring fees for the software license.