The following overview addresses how specific common key requirements of social security systems and pension funds are addressed by the various products in the Interact offerings.

Interact SSAS – Social Security Administration System

1. Registration: ability to register and track all employers & individuals in the country who contribute to social security & pension funds and receive benefits from them
2. Contributions: manage the filing/reporting of all earnings and contributions data for employers and individuals in formal and informal sectors
3. Benefits: manage the adjudication, calculation and disbursement of benefit and pension claims in an efficient and compliant manner
4. Compliance: ensure that all transactions are done correctly, with supporting evidence, in a transparent manner, ensuring enforcement of all relevant laws and collection of any arrears
5. Reporting: provide detailed and accurate reports for internal and external stakeholders to support actuarial studies and government policy-making

Interact HRMS – Human Resources Management System

1. Recruitment & onboarding: hire the best people with the right skills and onboard them quickly so they can contribute to the organization’s success
2. Payroll, leave & time management: pay all staff accurately and on-time, tracking their leave and time as per local labor laws and managing any employee loans in a seamless manner
3. Performance and competency management: ensure that all employees are on track with their performance plan and have the right competencies to achieve their goals
4. Training and development: ensure all employees receive the right training to stay up to date with social security topics and general work skills and competencies as per their training plan
5. Pension & benefit management: pay current employees the correct benefits as per their contract and eligibility, and pay retired employees the correct pensions as per the pension scheme they are a member of

Interact ERMS – Enterprise Risk Management System

1. Define risk framework: create an enterprise risk framework which addresses internal and external risks affecting the internal operations of the social security fund and the revenues and outlays driven by external factors, choose risk types, risk committees, risk officers and measurement standards to properly manage risk across the board
2. Internal risk management: identify and assess risks within the organization in terms of fraud or errors committed by internal staff with an impact assessment matrix
3. External risk management: identify and assess risks occurring outside of the organization in cases of economic shocks, fraud or other matters
4. Risk mitigation planning: create plans with detailed tasks for individuals to follow to mitigate the risks identified and assessed
5. Risk mitigation plan review: review plans and ensure that all stakeholders are completing their assigned tasks under the agreed plan, on time and up to the required level

Interact EBPC – Enterprise Budget Planning and Control

 Budget planning for internal operations: create detailed budget plans for internal operational expenses, including projects, at department level

1. Budget planning for all revenues and benefit outlays: create detailed budget plans for revenues from all fees, levies and contributions paid by employers, employees and self-employed or voluntary contributors as well as plan for specific benefit outlays by benefit type with various budget versions to best case, most realistic case and worst case scenarios
2. Budget planning for investment projects: create detailed budget plans for investment projects under consideration when evaluating investment
3. Budget control: review the budgets that were approved and track detailed actuals against approved budgets to view the variance and identify any variance against actuals
4. Budget amendment: create new budgets as a result of amendments following the budget review and control process