Pension PlayPen thinks that the work of systemsync is critical to the ongoing success of auto-enrolment.
Systemsync solutions ltd is pleased to announce the launch of pensionsync (its data integration platform for Auto Enrolment data) and to name NOW: Pensions, The People’s Pension, GenLife and NEST amongst the pension providers it will initially integrate into.
pensionsync will allow its customers (payroll software and benefits platforms) to seamlessly exchange data with multiple pension providers via one data interface. This has the benefit of removing the need for payroll software to export data into unsecure CSV files that then burden payroll bureaux and employers with the job of manually transferring the data to pension providers.
Efficient transfer of payroll data to and from pension providers is commonly referred to as being the largest autoenrolment challenge facing employers. systemsync solutions ltd estimates pensionsync will save the average employer up to 1/2 a days effort each payroll period and remove the need to increase headcount within payroll bureaux.
Will Lovegrove CEO of systemsync solutions ltd stated “pensionsync has been developed to dramatically reduce the cost and complexity of AE for all parties: employer, bureaux, payroll software and pension provider. Both cloud-based and desktop payroll software will be able to easily integrate their product into pensionsync and then deliver data to multiple providers on an expedited basis, without compromising the security of their customer data, and at a fraction of the upfront costs of integrating directly to the same providers themselves.”
pensionsync is initially offering a free “API-enabled file translation service” that converts PAPDIS files to market leading pension provider formats, before bringing online its chargeable data delivery services later in 2015.
Comments from pensionsync’s partners:
“Auto-enrolment is all about seamless, at volume, data transfer and The People’s Pension is delighted to be working with systemsync to build an API solution that makes a reality of the PAPDIS data standard. Bearing down on cost and improving efficiency will be of benefit to all parties in making automatic enrolment work for employers of all shapes and sizes. Solutions like this will become increasingly important as we deal with an increasing number of employers over the next few years.”
Jamie Fiveash, Chief Operating Officer, The People’s Pension
“API processing is the holy grail of payroll/pension interfacing, particularly in the huge data-transfer universe that auto enrolment has created. The reduction in the total cost of ownership that this technology brings will not just benefit employers and providers, but ultimately scheme members, helping ensure better retirement outcomes.”
Peter Thompson, Director of IT, NOW: Pensions
“We are pleased to be aligned with systemsync solutions ltd who share our ethos for making it easy to transfer data from payroll to pensions. A solution such as pensionsync will lower the cost and complexity surrounding auto enrolment compliance for employers, payroll administrators as well as pension providers.”
Nick Ayton CEO, GenLife
“To provide a comprehensive workplace communications and employee engagement programme around autoenrolment we need to seamlessly connect a combination of disparate systems. pensionsync api’s will make that possible.”
Steve Bee, CEO, Jargon Free Benefits.
systemsync solutions ltd was formed in 2015 by the founders of a software development consultancy based in Parsons Green, London. On the 25th March 2015 systemsync solutions ltd announced it had received over £850K of seed investment from a small group of Angel investors. systemsync solutions ltd has worked alongside The Pensions Regulator, The Chartered Institute of Payroll Professionals, Pensions BIB and major players in the market to help define the PAPDIS data standard.
For further information please contact:
Will Lovegrove, CEO, on firstname.lastname@example.org