HARRISBURG, Pa.--(BUSINESS WIRE)--AmericanTCS’s PensionPro, a provider of workflow automation software for third-party administrators (TPAs), announced today it is partnering with Dynamis, a 7 Simple Machines product specializing in real-time data collection and processing for third-party administrators (TPAs). This collaboration aims to address common operational pain points by providing enhanced tools for both daily operations and year-end reporting.
An automated data flow between the PensionPro and Dynamis platforms will provide TPAs with comprehensive reporting on census, gross compensation, payroll and paycheck data from over 200 human resource information providers. The integration will allow for efficient year-end testing and will also offer PensionPro users access to real-time data throughout the year, ensuring accurate and timely reporting on critical 3(16) data on a payroll-by-payroll basis.
Dynamis also provides TPAs with three years of historical data and advanced data intelligence capabilities that can detect errors in their current census data combined with a series of checks around payroll cadences and other potential payment issues.
The partnership between PensionPro and Dynamis will enhance the efficiency of TPA operations and accuracy of their reporting while providing advanced data access.
“TPAs are required to ensure the data they collect on retirement plan participants is accurate, and much of the industry is collecting this information manually, which not only takes time but introduces the possibility of data-entry errors,” said Darren Conner, PensionPro’s Chief Operating Officer. “Dynamis applies intelligence to payroll feeds throughout the year, catching problems early and reducing year end payroll adjustments. With this integration, analyzed payroll data will feed seamlessly into PensionPro. Dynamis brings a new level of service to managing payroll data and I consider this is an essential tool for TPAs delivering 3(16) services.”
Karim Lessard, CEO of 7 Simple Machines added, “We built Dynamis from the ground up to support the business needs of TPAs. We knew the unbundled market needed a platform that could drive efficiency for administrators, open up new revenue streams and accommodate changes from Secure 2.0. Dynamis automates the collection of payroll and census data, highlighting troubling data errors in real time. The platform radically streamlines year-end testing and allows TPAs to act as 3(16) fiduciaries with confidence. Integrating census data with PensionPro will reduce the burden of work associated with year-end testing and provide efficiencies for TPAs and plan sponsors.”
About PensionPro
PensionPro, an AmericanTCS business, was formed in 2010 as a solution for TPAs in the increasingly complex world of pension management and business management technology. PensionPro develops TPA specific software to track and manage Clients, Plans, Contacts and Projects. The software suite focuses on providing tools for managing projects and analyzing profitability by reviewing employee time and client fees. Plan sponsor website integration further enhances a TPA firm’s ability to easily and securely gather information and deliver documents to their clients and referral sources. PensionPro’s cloud service model also removes the burden of handling an enterprise level IT infrastructure required to run the applications.
About 7 Simple Machines – Makers of Dynamis
7 Simple Machines was formed in 2003 to streamline retirement plan compliance through technology. The company's tools support positive retirement outcomes for over half a million American employees, and $10M+ in retirement funds move through its platforms each month. Dynamis is the real-time data platform for TPAs. Automated data from 200+ HRIS providers flows securely into Dynamis, providing current and historic data on census, gross compensation, payrolls and individual paychecks. From census to 3(16) to Secure 2.0, Dynamis supplies data intelligence and standardized reports that ensure confidence in compliance.
