When choosing a benefits administration platform, organizations face numerous options. But determining the ideal fit based on the unique needs of the organization isn’t so easy. The more complex the business, the more difficult the selection process.
What makes a benefits administration and pension platform world-class?
A multiple-employer organization, which faces drastically different priorities and challenges compared to employer groups, for example, must cater to different segments. To that end, multiple-employer benefits administrators and stakeholders must have the knowledge to break down administration platforms and decipher between average and world-class.
There are several key factors that separate world-class platforms from other products.
- Partnership flexibility - A platform should offer a full spectrum of flexible, scalable partnership options based on your needs.
- User experience - Ensure that the administration portal meets the unique needs required from a multiple- employer organization, as needs will differ compared to the employer groups they oversee.
- Future-ready architecture - A flexible and configurable platform that can be fully tailored is key to meeting the varying needs of employer groups.
- Core modular offerings and add-ons - Look for customizable modules and add-ons that will meet current and future needs.
- Data integrity and analytics synergy - A world-class benefits platform will enable a cohesive data ecosystem that leverages insights to drive better financial outcomes.
Download our eBook for more information about the key factors to take into consideration for a world-class benefits administration platform.