Retirement Administration encompasses many processes driven by low value, manual activities such as paper distribution, copying, routing, data entry, logging, filing and discovery that not only increase your staffing costs, but also expose you to risk of human error that can degrade customer satisfaction and render you vulnerable to noncompliance risks and higher legal discovery costs. Being able to process requests, analyze trends, and proactively staff the appropriate processing departments for peak times is critical to maintaining customer satisfaction.
KwikWork Business Process Framework (BPF) 4Retirement Administration is a configurable solution that integrates IBM FileNet P8 or EMC Documentum with existing benefits systems to enable automation through electronic form submission and customer self servicing. It expedites deployment of processes spanning multiple departments such as Membership Services, Buy Back, Refunds, Retirement Eligibility and Service and Loan Processing. KwikWork BPF leverages sophisticated business process management (BPM) capabilities to speed the processing of enrollment forms, refunds, benefit estimates, beneficiary changes, or length of service credits. Kwikwork BPF for Retirement Administration delivers:
- Dramatically reduced administrative costs
- Improved cycle times that enhance customer satisfaction
- Increased process visibility, enabling process bottlenecks to be addressed faster for improved operational efficiency and productivity.
- Centralized access to all relevant information, enabling faster, more accurate processing and enhanced decision-making, collaboration and customer responsiveness.
- Enhanced compliance with the Sarbanes-Oxley Act and other federal and state mandates through the automatic enforcement of information security protocols and auditing and reporting capabilities.
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