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How to Protect Data During a Pension Software Implementation

Your organization’s data is critically important – and quite vulnerable – during a new solution implementation. Consequently, your vendor should offer advanced security options to protect your data during your project implementation. Further, they should also provide you detailed security protocols and plans for converting your data accurately and efficiently. In your analysis of determining which pension administration software is best for your organization, be sure to keep maintaining data integrity at the top of your list.

Protecting your data during a system overhaul centers on three key areas: data cleansing, conversion, and security. While many organizations view data cleansing as a separate project altogether, tackling this problem during a software transition enables your organization to solve problems early. Vendors should offer solutions to help your pension agency complete this task – one of the few key features to look for in a new system. Here are more details on how your agency can complete these critical data tasks.

Data cleansing is often an underestimated task during a new system implementation. It’s a process ensuring you have the right data at the right level of detail to support the new system. You must be prepared to resolve sources of data integrity issues in your existing system so that you do not carry these same problems over into the new solution. We strongly recommend involving internal staff that have a good understanding of the data you need to conduct business.

The chances are that your new system won’t identically confirm to your old – meaning that your data will have to be converted to its new environment. To safeguard your data and reduce project delays, check that your new system can supply you with a comprehensive data conversion plan. The plan should outline the proposed strategy and methodology for data conversion, in addition to showing how they will keep you up-to-date on conversion expectations, timelines, and activities. Developing these partnership protocols and data conversion scripts will accelerate the data conversion process.

Security should be top of mind when it comes to transferring data to a new software administration system. Your new vendor should be able to encrypt the required data in the database as well as when it is in transit anywhere – even when the system is in production. Refrain from storing Personally Identifiable Information (PII) data on local devices and restrict access to sensitive data to those only need it to perform assigned activities. Employing advanced authentication for reporting agencies, third party administrators, and other partners help secure your data further and bolster your defenses.

If you’re looking for more information on how to secure and improve your pension agency’s data – while using a comprehensive, browser-based software – then be sure to learn more about Sagitec’s Neospin™ solution. For additional insights on choosing the best pension software for your organization, be sure to download our free Pension Buyers Guide.

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Topics: Pension Administration System Implementation