Press Release
Alliance Benefit Group Implements Straight-Through Trade Processing
Jacksonville, FL, September 17, 2002 – SunGard Corbel announced today that Alliance Benefit Group (ABG) has joined a growing number of clients who have implemented Relius Administration’s straight-through processing functionality within its retirement plan recordkeeping business. Managing approximately 650 plans, with 45,000 participants, and plan assets of $1.1 billion, Alliance Benefit Group needed to move from a manual processing environment to scheduled, unattended processing in order to maximize efficiencies, thus enhancing and protecting profit margins.
The Relius Administration straight-through processing solution has allowed ABG to automate non-administrator tasks such as trading, contribution processing and dividend/capital gain posting. The straight-through processing system receives and processes participant transaction requests, performs routine reporting tasks during non-peak hours, processes requests at specified times each day, and generally automates key repetitive tasks. With straight-through processing, ABG can plan for future growth without adding resources or increasing costs associated with the services they offer.
“In today's world, third party administrators compete not only with each other, but also with non-traditional competitors such as large mutual fund houses and banks with seemingly unlimited technology budgets,” said Steve Pulley, president, Alliance Benefit Group North Central States. “In order for independent TPA’s to compete, we need to automate as much as possible. At ABG, we believe straight-through processing will help us compete with the big providers. Our initial estimates show that with straight-through processing we can grow our business by 50% without the pressure of adding any processing staff. That provides us with tremendous potential, and a significant competitive advantage.”
“With technology as the driving force in the retirement plan recordkeeping industry, firms need straight-through processing to stay ahead of the game”, said Don Mackanos, president of SunGard Corbel. “It helps our clients to streamline workflows, increase their return on investment, and maintain a competitive edge without requiring an increase in staff to accommodate growth.”
About Alliance Benefit Group
ABG is a full-service compensation and employee benefits consulting, recordkeeping, and administration organization for the small to medium sized employer. The company has over 70 employees today headquartered out of Minnesota with a consulting office in Kansas City. ABG has clients in 49 states from large publicly traded to one-person companies. ABG divisions include: retirement plan recordkeeping and administration, Section 125 administration, payroll service bureau, consulting and brokerage services and registered investment advisory.
About SunGard Corbel
SunGard Corbel Inc., an operating unit of SunGard, provides the employee benefits industry with retirement plan recordkeeping software, document generation software, all types of retirement plan documents, government forms software, plus educational seminars and services. Visit SunGard Corbel at www.sungardcorbel.com
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