Fedsure Group Benefits has launched a new business-to-business e-commerce offering which will allow paperless retirement fund administration by connecting the division`s mainframe back office systems to the Internet.
Intermediaries and employers will be able to access the Fedsure Group Benefits database via an Internet browser.
"The new offering, eQuip, has the potential to radically transform the way we have traditionally handled fund administration," says divisional IT manager Barry Canin. "Traditionally it was very paper-bound, but now we can operate on a fully electronic basis."
Canin says the eQuip data warehouse is hosted at The Internet Solution and has been installed behind a corporate firewall.
"It is accessed from a browser using a secure link and is user ID and password protected," he adds. The site is encrypted and has VeriSign certification.
Canin says the benefits of the new offering include an improved service through faster turnaround times and a reduction in the administration effort in the intermediaries` offices, allowing intermediaries to focus on a value-added service.
He adds that eQuip also provides transparency. "We won`t be able to say the cheque is in the mail, or we are waiting for a tax directive," he says. "You can log into the system and be able to see exactly what we are doing."
Among other things, the system allows for detailed enquiries, filling in electronic forms, and has an electronic interface with the revenue service for tax directives. One of the highlights is a payroll electronic data interchange.
The division has also launched its own Web site, which marketing manager Odette Pinto says was designed to be simple, aesthetic and easily navigable. "We took into account all the things that slow Web sites down," she says.
Pinto adds that the division is committed to upgrading and maintaining the site on a regular basis.
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