Sapiens and IBM Solution Enhances The Principal's Retirement Plan Processing System

Strategic Insights -

The Principal Financial Group, the nation's 401(k) leader, has chosen a solutions partnership with Sapiens and IBM to enhance its current systems on the web, significantly reducing costs and improving client satisfaction. The system, which utilizes Sapiens eMerge solution and an IBM S/390 enterprise platform and Websphere solution, has successfully transferred most customers to a web-based delivery system for improved access and efficiency. The Principal has seen significant savings through this system, enabling it to continue providing new enhancements to meet the growing needs of its retirement plan members.

Key Takeaways:

  • The Principal Financial Group, the nation's 401(k) leader, has partnered with Sapiens and IBM to enhance its current systems on the web.
  • The system, utilizing Sapiens eMerge solution and an IBM S/390 enterprise platform and Websphere solution, has successfully transferred 1,200,000 transactions every day to a web-based delivery system for improved access and efficiency.
  • The Principal has seen significant savings through this system, enabling it to continue providing new enhancements to meet the growing needs of its retirement plan members.
  • The system is designed to improve client satisfaction, with over 43,000 clients now having improved access.
  • The Principal is planning to move in-house users to an Intranet access using Sapiens' eMerge Workflow Server, with longer-term direction expected to use IBM's WebSphere.
  • Sapiens and IBM have designed and implemented a solution that streamlines processing and improves performance, utilizing rapid deployment methodology to build and deploy applications with intelligent middleware integration.
  • The system's success is a result of the partnership between Sapiens and IBM, who have designed and implemented a solution that meets The Principal's needs for improved efficiency and access.

Statistics:

  • 1,200,000 transactions processed every day through the new system.
  • Over 43,000 clients now having improved access to the system.
  • The system has reduced costs for The Principal, enabling it to continue providing new enhancements to meet the growing needs of its retirement plan members.

Sources:

  • "Sapiens and IBM Solution Enhances The Principal's Retirement Plan Processing System" (Business Wire, September 28, 2000).
  • Sapiens International Corporation N.V. (NASDAQ: SPNS), "Sapiens and IBM Jointly Announce The Principal Financial Group Upgrade to e-Business Solution" (PR Newswire, September 28, 2000).
  • The Principal Financial Group, "The Principal Financial Group Announces Partnership with Sapiens and IBM to Enhance Retirement Plan Processing System" (Business Wire, September 28, 2000).