Majesco Taps NetSuite to Modernize Operations as It Powers the Future of Insurance
Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that it has implemented Oracle (News - Alert) NetSuite to help transform its core business operations and better serve its customers and internal departments. With NetSuite, Majesco will be able to streamline its day-to-day operations, improve decision making and enhance its overall employee experience.
"We're thrilled about the modern capabilities NetSuite (News - Alert) will provide to our entire organization. Having one unified cloud-based platform will improve business operations across our sales, finance, procurement, product delivery, and support organizations," noted Adam Elster, CEO of Majesco. "We selected NetSuite as it enables us to standardize operations, enhance business insights and serve our customers more efficiently."
Majesco is partnering with the insurance industry to create a future that is agile, nimble and, fast. Its cloud-based solutions modernize and transform P&C and L&A and Group insurance businesses to better meet the demands of their next generation customers. To support its continued growth, Majesco plans to use NetSuite to increase transparency and efficiency across its core business operations. Majesco plans to leverage the order management, project management, resource management, project accounting, timesheet management, procurement, billing management, and reporting capabilities within NetSuite.
In addition, NetSuite will provide Majesco with the visibility, control and agility required to support its growth and help its customers capture new market opportunities. For example, NetSuite will enable Majesco to unify information across its business, increase automation, and enhance efficiency and accountability. As a result, Majesco is perfectly positioned to continue leading the charge for a new era of insurance.
"Like many of our customers, Majesco is leading the way forward in its industry, being the first to provide cloud-based products to change the way it conducts business and better serve a market," said Sam Levy, SVP of Sales, Oracle NetSuite. "By implementing NetSuite, Majesco will be able to react quickly to new business opportunities, while continuing to offer leading services to its customers."
Majesco (NASDAQ: MJCO) provides technology, expertise,and leadership that helps insurers modernize, innovate and connect to build the future of their business - and the future of insurance - at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform - a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Majesco's reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under "Item 1A - Risk Factors" in Majesco's Annual Report on Form 10-K, as amended by its Quarterly Reports on Form 10-Q.
Important factors that could cause actual results to differ materially from those described in forward-looking statements contained in this press release include, but are not limited to: the adverse impact on economies around the world and our customers of the current COVID-19 pandemic; our ability to achieve increased market penetration for our product and service offerings and obtain new customers; our ability to raise future capital as needed; the growth prospects of the property & casualty and life & annuity insurance industry; the strength and potential of our technology platform and our ability to innovate and anticipate future customer needs; our ability to compete successfully against other providers and products; data privacy and cyber security risks; technological disruptions; our ability to successfully integrate our acquisitions and identify new acquisitions; the risk of loss of customers or strategic relationships; the success of our research and development investments; changes in economic conditions, political conditions and trade protection measures; regulatory and tax law changes; immigration risks; our ability to obtain, use or successfully integrate third-party licensed technology; key personnel risks; and litigation risks.
These forward-looking statements should not be relied upon as predictions of future events and Majesco cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by Majesco or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Majesco disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.
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