SunGard Expands Its Managed Services Offerings
LOMBARD, IL, October 17, 2012 – SunGard is expanding its managed services capabilities to help meet the growing need for retirement plan administrators and recordkeepers to reduce costs, comply with new regulations, and focus on service differentiation in the face of revenue and competitive pressures.
With more than 25 years of experience servicing the retirement industry, SunGard provides IT outsourcing and hosted solutions to administer more than 63 thousand retirement plans for more than 9.2 million recordkeeping participants, document management services more than 10,000 active plans, as well as restatement management services. With its expanded offerings, SunGard provides the following for the retirement industry through its U.S.-based technology and service fulfillment locations:
- Participant processing for contributions, disbursements and loans
- Remittance processing for contributions and loan repayments
- Compliance test offerings, including 5500 preparation and plan design comparisons
- Plan set-up and implementation
"CEB TowerGroup research finds that 49% of financial services executives expect an increase in spending on outsourcing in the next three years. Outsourcing's appeal comes in the form of lower fixed operating costs, but firms also expect their providers to demonstrate high levels of competence in the financial products supported, the regulatory structure, and the effective application of technology," notes CEB TowerGroup senior director Peter Delano.
Mike Rogalski, president of SunGard's wealth and retirement administration business, said, "Retirement administrators are seeking outsourcing options that will help them improve efficiency of operations, reduce costs, and alleviate the pressure on internal IT departments. SunGard's retirement managed services offer a full range of functions that support essential tasks, helping our customers focus on serving their clients."
About SunGard's Solutions for Retirement Services
An integrated suite of solutions for retirement plan administration, SunGard's retirement services solutions help small and medium to large providers launch and maintain retirement products and services customized to their clients' needs. Administrators use SunGard's Omni and Relius solutions to manage the recordkeeping, trading and reconciliation, check writing and benefit disbursement processes of defined contribution and defined benefit plans, and other contributory schemes worldwide. SunGard's benefit administration software, services and expertise can help simplify individuals' workloads and amplify the value companies provide in the administration of defined-contribution or defined-benefit retirement plans.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company and is ranked 480 on the Fortune 500. For more information, please visit www.sungard.com.
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