PMACS® 8.1 is now ready for deployment. The enhanced features include:
• Improved Mass Change Functionality;
• Enhanced Accounting Journal Entry Functionality;
• Improved Performance;
• Regulatory Changes through Fall 2011.
“While McCamish will continue its predominant focus on the life and annuity BPO business, PMACS®, which plays a critical role in our services, is also a world class product that has been licensed by several of the largest life insurance carriers in the United States,” said Gordon Beckham, President and CEO of McCamish Systems, an Infosys BPO company. “We will continue investing heavily in PMACS®, as evidenced by the release of PMACS® 8.1, while aggressively seeking to expand its reach as a product, both within and outside the life insurance industry.”
“Competition in life insurance has moved beyond product and into relationship management,” said Mike Fitzgerald, Senior Analyst, Celent. “Products that integrate producer management and commission payment are becoming table stakes in the fight to gain distributor loyalty and grow the business. The PMACS® platform should be included in reviews of insurance distribution management systems.”
PMACS® is a single platform providing complete distribution management capabilities. PMACS® controls agent authority and compensation payments with unlimited hierarchy levels. The platform is flexible, multi-tiered and browser-based. It is scalable and data source independent—information can easily be retrieved from the relational database using available user interface or a variety of electronic data interface (EDI) options. The user-friendly application is programmed using the latest technology. Sales force management tools include producer maintenance, licensing, compensation, statements, and disbursement processing and reporting.
About McCamish Systems and Infosys BPO
McCamish Systems, LLC, located in Atlanta, Georgia, is the Life Insurance and Retirement Services subsidiary of Infosys BPO Ltd. (infosysbpo.com), the Business Process Outsourcing subsidiary of Infosys Limited, which was set up in April 2002. Infosys BPO focuses on integrated end-to-end outsourcing and delivers transformational benefits to its clients through reduced costs, ongoing productivity improvements, and process reengineering. Infosys BPO operates in India, the Czech Republic, China, the Philippines, Poland, Mexico, USA and Brazil and as on September 30, 2011 employed approximately 20,617 people. It closed FY 2010-11 with revenues of $426.8 million.
About Infosys Ltd
Many of the world’s most successful organizations rely on the 142,000 people of Infosys to deliver measurable business value. Infosys (infosys.com) provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow’s enterprise.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarters ended December 31, 2010, June 30, 2011 and September 30, 2011. These filings are available at sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
Richard Magner, McCamish Systems
P: +1 770 690 1711 / E: rmagner[.]mccamish.com.
Sachin H C, McCamish Systems
P: +1 770 690 1815 / E: inf-shc[.]mccamish.com.