Records Management is a critical part of social security administration. The inherent risks in poor records management are not only limited to incorrect payments but often expose the scheme to fraud, loss of data/information, compromised data integrity, poor fund management leading to non-realization of return on investment, litigation, etc.
In 2012, the Laptrust DB Scheme launched a digitization program for all scheme documents including member files, payment & discharge vouchers, correspondences, financial records, property records, minutes, board resolutions, research proposals including impact analysis and all forms of reports. Essentially, administration of the scheme became “Paperless”.

The impact of digitization for the Laptrust DB Scheme:

1. Increased efficiency in claims processing to a turnaround time of up to five working days from 60 days before digitization.
2. Increased security of documents and accessibility of the same by key personnel within the scheme administrator and digital workflow enhanced accountability and efficiency.
3. Longevity of files.

Integration of the pension ERP (pension Management System) to the Electronic Management System allows real-time access to information regardless of where an individual staff member seats.