New recordkeeping and plan administration solutions have to be more scalable, adaptable, and process-centric than before. They also need to be lean and fast to enhance the organization’s agility in responding to business imperatives, both internal, such as growth and efficiency, and external, such as regulations and competition. If your technology for recordkeeping and plan administration lacks the flexibility to respond to changing business needs, then you may be losing your competitive edge in the marketplace.
With the robust technology stack and flexible service oriented architecture as its base, the five key critical capabilities of CORE solutions that can propel high performance in plan provider and recordkeeping organizations of all types and sizes are:
- SELF-SERVICE for all the stake-holders – Comprehensive recordkeeping solution, with self-service capability for all the stakeholders – administrators, sponsors, advisors and participants – that can help them work in seamless and collaborative manner.
- Flexible ARCHITECTURE – Multiple integration capabilities to ensure faster integration and synchronization with other systems and applications in plan-administration and recordkeeping organizations.
- Maximum CONFIGURATION – Maximum Configuration and minimum customization helps in reducing the implementation timelines, and achieving shorter time to market cycles.
- Faster plan ON BOARDING – Automating and streamlining the on boarding or taking-over process reduces the risk of budget and schedule overruns.
- Independent POINT Solutions– Modular point solutions for specific plan-administration and recordkeeping processes like census, payroll, eligibility, auto-enrollment, loans and distributions, year-end processing, to improve the ROI of existing applications and systems.
These scalable, secure and configurable solutions can adapt to your current applications and processes, evolve as per your business needs, and connect all the key stake holders like administrators, sponsors, advisors, participants, who are increasingly mobile and always on go. They will also help you reduce your administrative tasks and use the data in an efficient way to help you drive better business decisions. Above all, CORE solutions will enable you to improve the way you manage the DC plans – let you focus on the outcomes instead of applications and processes.