Business Edge Systems has launched its new Employee Benefits Administration product - Acumen.
Designed for in-house administered funds, Acumen provides extensive functionality to simplify and automate fund administration. Its parameter-driven nature enables rapid response to new business requirements and legislative changes via configurable system rules. This allows business users to configure and implement rule changes, independently of IT.
Acumen`s functionality includes maintenance of fund rules and configuration parameters; administration of membership details; standard enquiries and reports at both fund and member level; essential Employee Benefit processes such as share of fund and IRP5 extracts; and a facility for end-users to define customised reports. An in-built job scheduler manages all routine reports and processes - simplifying administrative effort.
Says Rob Stansell, Managing Director of Business Edge: "We developed Acumen using the latest technology and design techniques. The objective was to allow easy maintenance by the fund administrators so that they could effectively manage and implement changes, with no dependence on IT. The system design is component-based so that any future requirements can be `plugged in` without affecting existing functionality."
Acumen has been successfully implemented at Anglo American Platinum Corporation Limited (Anglo Platinum), the world`s largest platinum producer, which has used it to replace its mainframe system for Group Provident Fund administration.
"We can confidently say that Acumen is meeting all our expectations. The system is not only proving more cost-efficient, but has also simplified the administration process. More information is available than ever before and is more easily accessible to the administrators, auditors and actuaries," says Mark de Klerk, Principal Officer of the Anglo Platinum Group of Retirement Funds.
Acumen runs on Windows 2000 and SQL Server 7 and uses Windows Terminal Server to provide distributed access for remote fund administration.
Business Edge Systems will showcase Acumen at the annual conference of the Institute of Retirement Funds, at the Sandton Convention Centre from 19 to 21 August 2001.
Business Edge Systems has delivered retirement fund solutions for the following companies: Anglo Platinum, Liberty Life, Fedsure Life, Gold Fields of South Africa, JCI and Metal Industries.
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