Technology doesn’t stand still, and business intelligence software is the most recent example of cutting edge, innovative improvements in data mining. Historically, business intelligence tools served up 5500 filing data from the Department of Labor that insurance brokers and agents spent hours gleaning through. This graveyard of information was arduously sifted and sorted to prospect for potential new clients. The reality, and rightly so, is much of the data found in 5500 business intelligence software was inaccurate, stale and wasted valuable time, and that’s if you even knew what you were looking for.
Business intelligence tools have changed. What is the new reality? 5500 data is available with fresh information that is easy to access and save. Clients still need to complete their annual 5500 filing, so the real game changer happens when you can quickly view the 5500 filing data and know if a client is in danger of an overdue filing or is actually overdue.
