In today’s digital and highly automated business environment, there is a growing trend to expand operational performance benchmarking. This fixation on continuous process improvement was evident in a recent study by the National Conference on Public Employee Retirement Systems (NCPERS). The study, which compiled responses from 159 state, local and provincial government pension funds, found that 23 percent of pension funds have expanded operational performance benchmarking and 8 percent are considering it.

Digital Transformation is definitely the rage du jour – and for good reason.  Traditional business models have been assaulted as innovative companies radically improve performance and customer reach.  Digital advances such as analytics, mobility, social media and smart embedded devices are changing business models, customer relationships, and entire value propositions.

Did you know that two of three Americans own a smartphone today? Smartphones are used for almost everything today – ordering food, banking needs, shopping online or booking doctor’s appointments. Most industries have realized the potential of mobility solutions and have leveraged it for better customer experience and detailed behavior analytics leading to personalized products and services.

Homelessness is a continual problem in many countries and the same goes for the U.S. Though many states have reported a decrease in homelessness, there are as many states where there has been an increase in the number of people without proper homes. While there are quite a few shelter homes and organizations trying to provide daily accommodation, they are always in dire need of resources and donations.

The tax season is upon us and this time of year happens to be a busy time for pension agencies. In addition to compiling and sending out annual 1099-Rs, pension organizations must also increase their level of member communication and engagement to ensure their membership is updated with important tax information. Members are anxious to know when their annual 1099-R will be mailed out, what exemptions they may qualify for, or if they should update their tax withholding amounts.

Replacement of a pension administration system is a big decision for an organization to make. Determining which solution is best, and the feasibility of implementing said solution, pose even bigger challenges.

Organizations across all industries have an immense amount of knowledge, both in tangible and tacit form. Despite the proliferation of information, most organizations are dealing with a knowledge gap that inhibits innovation, growth and the cross-pollination of ideas. In order for organizations to benefit from their knowledge base and turn it into a true value proposition, it must be harnessed. The most effective way to capture and create knowledge for easy consumption is by investing in an Enterprise Knowledge Solution (EKS). According to Oztemel and Arslankaya (2012), an enterprise knowledge solution assists with “the representation, organization, acquisition, creation, use and evolution of knowledge in its many forms.[1]”  In addition to bridging the inherent knowledge gap that exists in organizations today, below are several other reasons why organizations should invest in an EKS.

Studies show that mobile app adoption rates amongst older generations are significant and climbing. A recent study (2015) from the Pew Research Center shows that 58% of Americans aged 50 to 64 own a smartphone¹.

MOBIAS Pension is a mobile app that provides your members access to their pension accounts via a downloadable application. MOBIAS differs from a traditional member web portal in that it offers mobile-optimized account access with the integrated native features of a mobile phone (i.e. camera, GPS, phone, email, etc.).  With MOBIAS, the power of self-service is at your member’s fingertips, allowing them to access and update their information anytime, anywhere.

It’s easy to get caught up in the possibilities when it comes to designing your new pension administration system. And of course, you want to make sure that your new system makes up for the inadequacies of your old one. However, fixating too heavily on such details can lead the system design process astray.