Rxeconcile
One modest investment in Rxeconciling your producer database with state and federal records will save you significant sums of money, reduce licensing and registration workload and improve your market conduct compliance rating.
Invest now to save substantial sums over time.
RegEd finds that at a typical company, more than 8% of the producers on file with the state should have been terminated. Terminating them results in significant savings. Without an electronic data comparison, or a resource-consuming manual clean up, that amount grows with each renewal cycle.
Invest now and increase your licensing department productivity.
When companies scrutinize their licensing and registration efficiency, most find that 10 -25% of employee time is spent reworking erroneous filings that were made using incomplete or inaccurate information. The time that is freed-up by reconciling your producer data can be used to increase efficiency in all required filings, to enhance producer and company satisfaction with your licensing/registration operation, and allow you to invest more time in optimizing market conduct compliance.
Invest now to improve your market conduct compliance, and minimize your risk of fines.
Four of the top five finable market conduct infractions for licensing involve imperfections in your producer database. While database clean-up requires an investment, the investment is nominal in comparison to the expense of regularly levied fines of $25,000 or more, and the public embarrassment to your company of a failure to be in compliance.
You can make Rxeconcile even more painless by engaging RegEd Registration & Licensing Services to handle terminations, additional appointments or registrations that are identified.
