Pyramid Introduces an Innovative Data-Warehousing
Solution for Retirement Plan Processors --
Pan-American Life To Be the Industry's First User
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Pyramid Digital Solutions, Inc., a leading provider of Internet, voice and data-access technology, has announced the introduction of PlanWarehouse, the retirement plan processing industry's first out-of-the-box data-warehousing solution. PlanWarehouse enables retirement plan processors to provide their sponsors and administrators with instant access to plan data via a standard Internet browser.
Historically, plan processors have been limited to the use of printed quarterly reports and simplistic querying tools. With Pyramid's PlanWarehouse and its unique PlanAnswers technology, users can now ask true ad-hoc questions about their plans. For example:
PlanWarehouse can quickly inform plan sponsors about participant age, geographic location, hire date, market values, investment data and more. Responses can be viewed immediately within the browser or downloaded as XML or spreadsheet files.
David Shah, president and CEO of Pyramid, stated, "Plan sponsors have been clamoring for a more intuitive, immediate way to access plan data. Given the trend towards daily valuation and the emphasis on tracking assets, investment utilization and participation rates, quarterly reports are no longer sufficient. With the power of the Internet and PlanWarehouse's advanced natural language recognition features, processors can now provide their sponsors with the tools they need to make informed decisions."
Pyramid's PlanWarehouse technology is independent of the plan processor's back-end recordkeeping system. The solution will support systems from a variety of vendors including SunGard Employee Benefit Systems, Corbel, FDP, TrustMark and Cascade. The product will also work with proprietary systems built for in-house use.
Pan-American Life, based in New Orleans, will be the first to use Pyramid's PlanWarehouse. Michael DiCenso, Pan-American's senior vice president of U.S. sales and corporate marketing, stated, "Our customer base, which is composed of small, medium and large plan sponsors, has been asking for a better way to access their plan data. Pyramid's unique solution enables us to service our customers quickly and efficiently. You've got to see Pyramid's PlanAnswers technology to believe it -- there's nothing else like it in the industry."
As an official Solutions Partner for SunGard Employee Benefit Systems, Pyramid is proud to offer a comprehensive, integrated suite of products designed to enhance the capabilities of SunGard's market-leading recordkeeping systems. Pyramid's clients include some of the world's leading financial institutions, mutual fund providers, life insurance companies and corporations, including Norwest Bank, State Street Global Advisors, M&I Trust and Investment Management, Invesco Retirement Services and Standard Insurance Company. Pyramid maintains a Web presence at http://www.pdscorp.com.