Keep your data clean and clear
Is your data in good shape? If it is, will it still be in a couple of years time?
If your answer to either question is no or maybe then read on.
Living with dirty data is not a cost effective strategy. Many pension funds are in a position where liabilities cannot be accurately quantified and are therefore open to inaccurate valuation. Schemes will continue to pay the price, and may in future incur penalties if designated levels of record keeping are not adhered to.
We believe that cleansing and taking action to maintain data quality is the first step to reducing your running costs. It is the key to seeking competitive pricing from third party advisors, and more importantly, to raising service levels across the board and increasing Member confidence in scheme administration.
Not all administration systems have the built in tools that enable you to report on and prove the quality of the data held. Even where these exist, just correcting the data issues is not the complete solution to the problem.
Our services provide our customers with comprehensive automated and lasting solutions which not only deal with the existing data issues but enable the identification and control of data anomalies, from initial data capture through to member benefit notification and payment.
We provide an investigation and analysis phase followed by a solutions phase. In the initial phase relevant information is identified and captured and the relevant data checks are configured and carried out, culminating in reports production and walk-through of our findings. Following on from this, we discuss and plan with you the next steps. Here we will identify the cleansing options available to you, identifying resources required where appropriate and prioritising the work. Where possible automated solutions are offered as these can be reused as part of the ongoing monitoring and cleansing cycle.
You can be assured you will receive our fullest attention. We are independant of all systems providers and have a committment to reducing your ongoing costs.
Keep your data in good shape with PxP
