Press Releases
SunGard's Omni Data Validation Web Helps Global Benefit Administrators Improve Payroll and Census Data Collection
September 6, 2011 — Birmingham, AL
SunGard has launched a payroll and census data collection capability to help benefit administrators increase production efficiencies by giving U.S. and international plan sponsors an online submission process to fund and post information automatically on the recordkeeping system. Available as an integrated module of SunGard’s
Omni pension recordkeeping solution or as a stand-alone solution, Omni Data Validation Web helps to reduce operational costs throughout the payroll collection process by providing plan sponsors with the ability to submit contributions, loan payments, participant indicative information and other administrative data online.
Payroll and census collection is one area of employee benefit administration that continues to struggle with manual, labor-intensive data collection and recordkeeping due to lack of automated or integrated processes and workflows. Omni Data Validation Web helps plan sponsors and record keepers streamline online data that has been submitted for payroll, compliance, demographic and other participant indicative purposes. Using a customizable, Web-based interface, it notifies users of required actions via email, supports multiple file formats for uploading payroll data, provides feedback on deferrals and loan payments, and helps to improve data quality by employing standardized data formats through a rules-based data validation process which can integrate with SunGard’s Omni or other recordkeeping systems.
Greg Clark, senior vice president of SunGard’s
wealth management business, said, “Payroll contribution processing is primed to help plan sponsors and record keepers increase operational efficiencies, improve client service and reduce costs. The fully integrated, Web-based data collection process provided by SunGard’s Omni Data Validation Web helps benefit administrators streamline the process of obtaining required data to process contributions, loans and other participant indicative data.”
About SunGard’s Omni
An integrated suite of solutions for retirement plan administration, SunGard’s Omni helps mid to large providers launch and maintain retirement products and services customized to their client needs. Administrators use Omni to manage the recordkeeping, trading and reconciliation, check writing and benefit disbursement processes of defined contribution, defined benefit and other contributory schemes worldwide.
About SunGardSunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves more than 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit
www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Omni are trademarks or registered trademarks of SunGard Data Systems, Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.