How AAP doubled turnover without losing control of the books
The UK’s largest buyer of with-profit endowment policies outgrew Viztopia, moved to DataFlow on Microsoft SQL Server, and kept its accounting function in control as volumes climbed.
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- 2× turnover in two years post-implementation
- 250,000 policies handled in a single year
- 18 staff using or trained on the system
- £1bn+ of policies purchased to date
Inside AAP.
Part of TIS Group Plc and operating solely in the UK, Absolute Assigned Policies Limited (AAP) was formed in 1968 and is the largest market-maker specialising in the buying and selling of with-profit endowment policies. AAP has been involved in the purchase of over £1 billion of policies and has grown to become the largest buyer of endowments in the UK. Its associated companies manage assets in excess of £750 million.
- Sector
- Financial services
- Formed
- 1968
- Group
- TIS Group Plc
- Associated assets
- Over £750 million
A system sized for a smaller business.
Rapid growth to 250,000 policies a year, and a move to Microsoft SQL Server the accounts system could not follow.
Two factors prompted AAP to revisit its financial system. First, rapid growth meant the company was handling 250,000 policies in a single year. Financial Director Simon Goldsmith felt the existing accounting system, Viztopia, “was not substantial enough for the size of business that we had grown to.”
Second, the company had switched its IT systems to run on Microsoft SQL Server and wanted an accounts system compatible with it. AAP needed something flexible enough to expand with the business, while still allowing accurate control of credit and payments and providing clear audit trails.
- Volume growth to a quarter of a million policies in one year.
- A move to Microsoft SQL Server the incumbent could not match.
- A need for accurate control of credit and payments as volumes rose.
- Clear audit trails, drillable to individual transaction level.
- An existing bespoke Microsoft Access system that had to keep working.
SQL-based accounting that integrates with what is already there.
AAP assessed Sun Accounts and Access Accounts, and chose DataFlow for its ability to adapt.
DataFlow was the first UK accounting software compatible with Microsoft’s SQL Server, and uses industry-standard SQL databases that give direct access to all tables subject to local security constraints. Every transaction is stamped with the user’s date and time of entry, and it is possible to drill down to individual transaction level to see who performed a task.
Of particular importance was integration with AAP’s existing bespoke Access system, which handles endowment policy valuations, manages the legal workflow and produces accounting transactions. An interface program written in-house at AAP meshes it with DataFlow.
- Industry-standard SQL database with direct access to all tables.
- Transactions stamped with user, date and time for a clear audit trail.
- Drill-down from summary to individual transaction level.
- Interface to a bespoke Access valuation and workflow system.
- New features made available to users immediately, at no additional cost.
The business doubled. The accounts function held.
Scalability proved to be the asset, letting a nine-strong department absorb the extra workload.
Since DataFlow was put in place, AAP has enjoyed substantial growth, and scalability proved a key asset in enabling the accounts department to keep pace with the additional workload. In Simon Goldsmith’s words: “The company’s turnover has doubled in the two years since implementation. We have been able to manage this and keep control within the accounting function.”
There are currently nine users of the software in the accounts department and a further nine trained on the system. According to Simon, “they all adapted to, or learnt the system quickly and easily.” Export features are used to output data to spreadsheets, with routine reports generated from there.
| Outcome | Before DataFlow | With DataFlow |
|---|---|---|
| System capacity | Sized for a smaller business | Absorbed a doubling of turnover |
| Database | Incompatible with the new SQL platform | Industry-standard SQL Server |
| Audit trail | Limited visibility of who did what | User, date and time on every transaction |
| Bespoke valuation system | Standing apart from the ledgers | Interfaced and posting through |
The support was excellent and the implementation process well documented with few surprises as the project progressed.
What AAP run.
Ledgers on SQL, a full audit trail, and an interface to the systems around them.
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