Successfully Roll out 360-Degree Integrated Solutions for Mutual Plan Sponsor Clients
BPAS and MassPay announced the successful launch of 360-degree integrated solutions for mutual plan sponsor clients. BPAS is one of the major national providers of retirement plans, benefit plans, fund administration, and collective investment trusts. On the other hand, MP (MassPay) is a provider of HR, payroll, and wellness services. Because of its service quality, it has been an Inc. 5000 fastest-growing private company year after year.
The solution automatically links and orchestrates data between the plan recordkeeper/investment provider, sponsor, and employees.
Automatic System to Save Time, Reduce Data Entry Errors, and Protect Data Integrity
Data updates between BPAS and MassPay whenever there is a change to one of the systems. The system is completely automatic. As a result, it saves time, reduces data entry blunders, and protects data reliability without manual entries. Jason Maxwell, CEO of MP said, “Employers told us what they were looking for. They want to select best-in-class solutions for plan administration and payroll services, not bundle them arbitrarily. And, they want to have the two firms work together seamlessly. That’s what we’re able to bring to the table with BPAS.”
Both the companies – BPAS and MassPay understand the right of companies to manage their mix of service providers across payroll, employee benefit, and accounting services as they deem fit. BPAS works with numerous recordkeepers while MP works with various payroll providers. They came together to create an integrated solution for the benefit of mutual clients.
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The Plan Is to Put All the Clients on the Freeway!
Paul Neveu, President of BPAS Plan Administration & Recordkeeping Services said, “Our model at BPAS is to put all clients on the freeway, meaning that we receive complete census data each payroll period, then perform a range of services on the client’s behalf to simplify their daily experience. It’s all predicated on receiving complete, accurate, and timely data.” He added that the company was thrilled about the partnership with MP and it would be a terrific resource for current and future clients seeking similar benefits. They will collectively offer a high-touch service environment, minimized routine tasks, and maximum automation between the recordkeeper and payroll system.
BPAS and MP started working together in 2014 through advisor partnerships. MP has clients across the US. Additionally, it has also been providing services to a large number of employers in New England. Mutual clients of the firms have been using the 180 solutions till now. But MP will upgrade them to the 360 solutions in the months to come. This will help mutual clients save a lot of time and resources.
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