Empowering clients to optimize operational efficiencies & reduce costs
In today’s saturated marketplace, many 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 an expert 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, financial incentives, and penalties, the entire engagement is structured and trackable. Enterprise Iron’s Managed Services solutions 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)
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