Process Automation -
- A very large record-keeping provider faced scalability challenges with manual processes and user intervention.
- Several payroll files were processed and error checked manually before uploading to the record-keeping system.
- This created dependencies on certain employees and posed serious risks to the business.
- Convergent was hired to automate the plan setup, payroll processing, recon and trading processes.
- We developed a custom payroll processing software and the corresponding user interface along with a comprehensive XML driven file processing system.
- The applications were then integrated with a third-party automation software.
- Alerts, audits and reporting were setup to reduce downtime and facilitate process improvement.
- 100+ Key processes automated.
- 50K Man-Hours saved annually.
- 80% Reduction in system downtime.
- 75% Reduction in payroll processing time.
- 60% Reduction in out-of-balance plans through automated recon.
- 1200 Plans migrated.