Evolutionary Awards – EBSphere: Evolution in administration

Category: Evolution in improving member outcomes

Describe your evolution:

EBSphere has over its 24 years existence grown to be a major contributor to administrators in the Employee Benefits market. Our product, Everest, has enhanced the administration process for our clients using the latest technology available. Innovation is included as one of the EBSphere guiding principles, and we endeavour to deliver an innovative and world class system for our clients.
Throughout the process of administration, the system validates and automates to ensure minimal user intervention. This allows for smooth processing of claims including external interfacing to obtain regulatory tax information, processing of electronic investment instructions, validation of bank accounts and submission to the respective bank account.

With the interface to the systems ancillary services, less pressure is experienced by administrators by performing manual inputs ultimately reducing risk for the administrators.
The Member record holds all member and fund related documentation virtually, ensuring that valuable communication, supporting documents, are “filed” in an easy to obtain, secure environment.

The member’s experience via various portals, such as Websites, SMS, USSD and WhatsApp, provides the members with an updated and transparent view of their retirement fund record.

The entire ambit of retirement fund administration which includes contributions receipts and reconciliations, investment trades, risk benefit administration, communication, and clients’ specific requirements, are met using the Everest administration system and the built in workflow processing engine.

A key element of the Everest system is the accounting module which is built-in to the system functions in real time. As and when processes viz, claims, investments, payments are actioned on the system, the necessary accounting entries are posted real-time allowing for a full set of accounts to be available at a push of a button. EBSphere and its flagship product, Everest, have experienced organic growth, establishing a strong presence across many African countries. We tailor our solutions to meet the specific benefit and regulatory requirements for our cross-border clients.

This product has resulted from a group of dedicated and knowledgeable people with experience in the Employee Benefits, actuarial and administration environments complimented with skilled developers facilitating an evolving product that benefits our clients.

Describe the impact your evolution has had in response to its identified challenges and targeted outcomes.

EBSphere has been fortunate to weather through industry storms over the years. All industry changes and updates have been prepared for release in a timely manner. Customisation plays a big part in finding a solution for our clients. The growth of EBSphere is testament to the product and its ability to support and enhance those we partner with. The system architecture is robust to support major industry changes such as the Two Component System without having to perform any major redevelopment of the application. With the changes in the legislative framework, EBSphere enhanced the system capabilities to leverage the latest technology via multiple communication mediums such as the Online Website, API’s to integrate with WhatsApp or mobile App solutions to submit and process claims.  The system continues to evolve, and the additional functionality adds to the concentric diversification of Everest.

Supporting Documentation >