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No-Touch Processing

Setting the Right Course for Pension Systems.

Overview

Pension Systems are all over the map when it comes to no-touch processing. Adoption rates vary dramatically from country to country.

It’s the best way to scale the number of transactions agencies can conduct without hiring more people, so why aren’t more pension systems saying “yes” to no-touch?

What is no-touch processing?

No-touch or “straight-through” processing allows pension systems to perform transactions without the need for a caseworker to “touch” the process at all.

No Touch

No-touch should be the course more traveled.

Pension systems believe that they should use no-touch processing, but not all are. Interestingly, the ones who use no-touch the most see the greatest value in it.



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High Value

High value for low-touch transactions.

No-touch can help when it comes to a variety of tasks.



Applications and benefits processing

Pension
Payments

Updates to custom information



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Hands Off

Can being “Hands Off” allow agencies to be more hands on?

Caseworkers who spend less time processing transactions can spend more time on complex cases or coaching pension members.

Forecasting, processing applications, and changes in customer contribution levels also stand out in individual markets.



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Navigating The Elements

IT systems, workforce and leadership challenges can slow progress toward no-touch processing.


More than 8 in 10 are concerned about the complexities associated with integrating no-touch into their organization, and associated IT hurdles.

IT is a top concern in:


Overall, 83% of agencies believe employees will need to be more tech-savvy and manage a wider range of processes as no-touch use increases.

Most believe that CIOs, CTOs, and COOs have equal responsibility in leading pension systems toward greater use of no-touch.


Anchor Your Approach

While there is hesitation to move full steam ahead, with the right combination of IT infrastructure, workforce skills and leadership support, agencies can take full advantage of no-touch processing. Here’s how:

Shape the organization

In a way that supports automation and allows you to get tasks done quickly, without business disruption.

Build an infrastructure

That enables connectivity and intelligence.

Take away simple jobs

That can be automated and replace them with value-adding coaching roles.

Train staff

To be more tech-savvy.

Encourage leaders

At the helm to drive the agenda toward efficient end-to-end processes.

Authors

Mark Jennings

EALA Human Services Industry Lead

Mail to Mark Jennings. This opens a new window.

Owen Davies

Managing Director

Mail to Owen Davies. This opens a new window.

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