Navigating the challenges with automation and agility
Although the retirement industry has always been a low-margin business, it still faces intense cost pressures and increased work volume. Organizations want solutions that harness digital power to design happier customer journeys despite the fast-evolving regulatory sphere.
Keeping in view the requirements, we, at Wipro, have outlined solutions that optimize IT and operations for retirement/pension administration to sustain in the present and transform with scalable sophistication in the future. Our focus is on delivering a personalized participant and plan sponsor experience, powered with a human-centric product design, rapid prototyping, and automated insights. We are proud to be agile as we encourage relying on modernized platforms and new ways of working for faster plan conversions. Our experts suggest integrating proven outcome-based models to ensure competitive cost structures.
Our unique portfolio of retirement and pension services can help
- Optimize process and reduce typical turnaround times like pay cycles for hardship payments and death processing leveraging RPA
- Leverage low-cost locations and efficiently manage workforce to realize cost benefits and overall service efficiency
- Build a data-driven organization that is critical and can sustain in a hyper-competitive environment
- Perform auto-detection and auto-resolution of IT incidents using closed-loop automation and next-gen AMS
- Capitalize on robust ‘journey to Cloud’ capabilities and help implement an integrated modernization road map
- Enable clients to handle essential mainframe services with a “Mainframe as a Service” solution
Benefits we assure:
- Up to 35% reduction in TCO
- 80% reduction in process turnaround time
- 40% reduction in major incidents
- Improved compliance and customer experience leading to cycle time reduction and future readiness