Empowering clients to optimize operational efficiencies and reduce costs
Firms are increasingly focused on their core competencies in order to achieve a competitive edge. They rely on Managed Services and provider partnerships to deliver additional expertise or scale-based services. By outsourcing or co-sourcing recordkeeping operations, administration, and IT production support when working with a Managed Services Provider (MSP) like Enterprise Iron, you own and oversee the system while we are responsible for service delivery.
Bound by a contractual relationship, a service-level agreement (SLA), financial incentives, and penalties, the entire engagement is structured and trackable. Enterprise Iron’s expert Managed Services average a minimum of a 5% cost reduction in Year 1 and YoY per-unit cost reductions as measured from an agreed-upon baseline. We have a detailed history of achieving results for our Clients and continue to deliver exceptional value every day.
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Menu of Services
Validation of Participant Service Tracking and Eligibility for various transactions
Conversion Support: BizNuvo®, Data Mapping, Migration Support
Creation and Processing of Transactions in Recordkeeping System (Money In/Out, Loans)
Contact Center Operations including Staffing, VRU, Recording, Authentication, and Analytics
Plan Data Management and Configuration/File Format/Feedback Files and Reconciliation
Modernization of Processes and/or Recordkeeping platform (enhance UX and improve efficiency)
Compliance: Form 5500, Testing, Tax Filing
Technology Support: Platform upgrades, configuration of web, voice, and mobile applications/web administration
Plan Documentation: Design, Analysis, & Safe Harbor
Miscellaneous Services as requested: Proxy Voting, ESOP Administration, Business Continuity, etc.
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Why Managed Services?
» Adds specific expertise and skillsets to enhance and improve services (people, processes, and technology including multi-lingual capabilities)
» Unburdens critical resources to focus on other core business priorities
» Deploys a dedicated team that acts on behalf of our clients, for their exclusive benefit and functions as an extension of their business
» Supports seamless technology maintenance and other upgrades by sourcing expertise via a third-party
» Provides leverage to reduce cost (substitute higher cost for lower-cost resources, labor arbitrage, reduces long-term benefit obligations)
» Gives assurance of a predictable cost structure with the ability to scale services as required
» Enhances information security and reduces operational compliance risk via EI’s dedicated cybersecurity, regulatory, and legislative monitoring practices
» Transfers and/or shares fiduciary responsibilities
Case Study: Data Quality Improvements
For this Client, we implemented a strategy using the OFSAA tool yielding a 50% data quality improvement and 15% cost reduction.
Case Study: Digital Transactions
A retirement organization needed to build new digital services to enhance its business and continue to facilitate its retirement plan distributions.
Case Study: Enhancing Reconciliation Processes
We transformed a Defined Contribution Company’s reconciliation process by reducing a two-year backlog and identifying over $2M in gains.
Enterprise Iron offers multiple Managed Services delivery models that are adaptable to your unique needs
