Relius Administration Straight-Through Processing (STP)
In the defined contribution environment, many, if not most, tasks are deterministic and repetitive. It is these tasks or jobs that carry the majority of the workload and consume the majority of resources. They easily lend themselves to the development of "standard" workflow routines - now automated by the module, Relius Administration straight-through processing (STP). The STP environment enables you to optimize and prioritize the systems' use of resources.
Features
- Receives and processes participant requests
- Performs routine reporting tasks during non-peak hours
- Processes requests at a specified time each day
- Checks for census input and new data input
- Automates interaction to other third party software applications
Benefits
- Automates daily procedures for data input, such as payroll and demographic changes, hands-off processing for all recurring procedures for daily valued plans and periodic procedures for traditional plan processing
- Provides exception management reporting to automatically alert of failed data/processes
- Generates internal audit/management and client reports
- Direct output to various systems including, Relius Plan Sponsor Web
- Helps reduce service delivery costs
- Offers electronic claims processing for 125/Cafeteria plans (additional licensing)