There has been some confusion in the market about the scalability of Sagitec’s pension administration solution, Neospin™. Some industry representatives assume that Sagitec can only serve large agencies, this however, is not accurate.
After contemplating this inaccurate assumption, I have surmised that these comments are merely a product of how the human mind operates. People use available information to explain the cause and effect of events in an effort to make sense of the world. Therefore, these individuals are attributing Sagitec’s recent project acquisitions to the market segment the firm is able to serve. This attribution, however, is not accurate.
Sagitec has secured contracts with some of the largest pension agencies in the country, but this does not preclude the firm from serving clients on the other end of the spectrum. Sagitec has developed four pension administration solutions for city and local pension agencies in the last six years and is currently engaging with several other similar agencies regarding future IT modernization projects.
An example of how Neospin™ can scale to meet these clients’ unique needs is evident in the solution that the firm developed for the Kansas City Public School Retirement System (KCPSRS). In 2008, KCPSRS’ IT technology consisted of disparate systems such as dBase, FoxPro and Microsoft Excel. In addition to integrating these technologies into one unified pension administration system, KCPSRS also wanted an off-site hosted system to reduce internal single points of failure, said Joe Schaefer, KCPSRS’ information technology manager.
After analyzing various software vendors, the review team selected Sagitec because the company, “provided all of our requirements at an excellent price and value,” said Schaefer.
The project took two years to complete and the Neospin™ solution has greatly improved KCPSRS’ operational efficiency.
“Since we have gone live, the system has reduced calculation errors, reports are produced accurately and without multiple iterations, and business processes are streamlined because there are less circumstances that require data manipulation,” said Schaefer.
KCPSRS’ future IT investments will include enhancements to their existing system and the agency will involve Sagitec in that endeavor, Schaefer said.
The inherent scalability of Sagitec’s technology ensures that clients, such as KCPSRS, receive a tailored solution that fits their unique needs and budget. Sagitec’s Business Development Manager Diann Clift explained that there are many reasons why Sagitec is perfectly suited to serve clients of all sizes.
“Sagitec’s technology is extremely flexible and can integrate with a client’s existing technology,” said Clift. “This flexibility also allows clients to adopt new technology at their own pace. They can start with a base system and add additional functionality or services as their budget allows.”
For more information about Sagitec’s IT solutions and services, or to schedule a demo, please contact Diann Clift at (612) 284-7130 or at diann.clift@sagitec.com.
Do you want an analysis of your current IT infrastructure but aren't ready to contact Sagitec for an in-depth assessment? If so, take our free and quick Pension System Assessment to learn how your current system measures against industry best practices.
About Sagitec Solutions:
Sagitec Solutions, LLC designs and delivers tailor-made pension, provident fund, and unemployment insurance software solutions to clients of all sizes. With broad industry experience, Sagitec helps their customers achieve strategic business objectives, enhance service offerings, and lower operating costs. They are headquartered in the Twin Cities area of Minnesota. Further information can be found at http://www.sagitec.com or by contacting Rick Deshler at (651) 335-3406 or at rick.deshler@Sagitec.com.