CitiStreet has established a centralized group focused on client data management. The new CitiStreet Data Management group will help benefit plan sponsors manage all aspects of their benefits administration data, including conversion, cleanup, process consulting and ongoing maintenance and controls. CitiStreet has hired an industry expert in the field, Cort Raithel, to head the team.
Proper data management is essential for plan sponsors to reduce costs, reduce business risk and attain the highest level of participant satisfaction. For example, p oor data quality and process can translate into expensive case-by-case manual intervention, incorrect pension calculations, and incorrect health coverage. It almost always means plan participants must wait longer for their requests to be processed.
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