Case Study: Platform Migration

Enterprise Iron Financial Industry Solutions, Inc.
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BUSINESS PROBLEM

A large Defined Contribution Recordkeeping organization was faced with consolidating four existing platforms to a new target state platform. 

The client needed to augment the required knowledge and  resources to complete the project, and therefore needed a partner with retirement technology expertise capable of sourcing business practitioners across multiple roles including:

  • Program & Project Management
  • Technical Analysis
  • Data Mapping and ETL (Extract, Transform, Load)
  • Business Rule Harvesting
  • Production Support
  • Development Operations

OUR SOLUTION

Enterprise Iron partnered with our clients Institutional Retirement Technology to define requirements, build functionality and convert clients to new services delivered via a new platform.

We supported our client by providing retirement business and technical resources to augment their staff groups.

Working in Agile and Waterfall project frameworks, Enterprise Iron was able to support the following activities:

  • Map and convert Data from the four recordkeeping platforms to new target state platform ingestion format
  • Extract the relevant business rules so that they may be carried and loaded into a centralized Business Rules repository
  • Create a repository to store history of Conversion transactions
  • Record any data quality issues found (corrupt data, missing data etc.)
  • Identify and record any data formats and compatibility issues
  • Produce the general design requirements
  • Record timings of the extraction process
  • Maintaining the risk register for Executive Committee oversight

RESULTS & CLIENT BENEFITS

Our resources provide direct experience on large recordkeeping platform migration efforts.

As a result of partnering with Enterprise Iron, our client achieved the desired outcomes of its platform migration initiative:

  • Our client was able to retain >99% of its existing clients, by ensuring a smooth transition and immediate enhancements to its Sponsor and Participant services
  • Millions of dollars in cost savings for the “care and feeding” required to maintain four disparate systems and many ad hoc, one-off business processes
  • Installation of new recordkeeping functionality and services within the target state recordkeeping ecosystem
  • Integration of new platform and service capabilities with existing technology and business operations to better compete in an ultra-competitive marketplace
  • A better, common set of client experiences for Participants, Sponsors, Advisors and TPAs

Our commitment to excellence in the delivery of successful outcomes for our clients has earned us the opportunity to continue providing skilled resources to this client for the long-term.