impact report

impact
report

THE INFLUENCE OF STAX·AI ON TRUST ACCOUNTING PROCESSES FOR TPAs

THE INFLUENCE OF STAX·AI ON TRUST ACCOUNTING PROCESSES FOR TPAs

Executive Summary

Executive Summary

In 2020, we committed to rehumanizing processes for TPAs, and since then, we have revolutionized document processing and operational workflows, particularly in how brokerage statements are managed. By automating key processes, Stax·ai significantly enhances efficiency, reduces operational burdens, and improves client retention and acquisition. This report details the breadth of these successes, focusing on the measurable impact of Stax·ai on TPAs and highlighting its contributions to faster processing times, reduced operational costs, and business growth.

streamlined document processing

streamlined
document processing

Previously, TPAs were required to scan and individually file each document into separate client folders, manually organizing them by plan and year. This process was time-consuming and required extracting financial data from each document to ensure accounts were accurately reconciled. The reconciliation process was manual and labor-intensive, involving multiple rounds of verification against various sources of truth.

Stax·ai has radically transformed this process by enabling the bulk scanning of documents, automatically separating and filing them into appropriate folders based on plan year and client details. In addition to file organization, the platform extracts key data—including totals and individual transactions—from each document and populates it in the Investments Dashboard. This dashboard provides an overview of accounts and plans, allowing administrators to identify discrepancies or missing statements in real time, reducing the need for manual cross-referencing.

impact on processing times

impact on
processing times

To date, our partners have experienced a significant reduction in document processing times, with all reporting time savings of up to 50%. While every firm’s needs vary, this could equate to saving several hours per plan each month, or hundreds of labor hours over the course of a year for a typical TPA managing hundreds of accounts. These efficiencies free up time for administrators to focus on more strategic, client-facing tasks, helping TPAs deliver higher-value services without increasing staff workloads or needing additional resources.

reduction in operational costs

reduction in operational costs

Stax·ai’s impact extends beyond time savings, resulting in a measurable reduction in operational costs. The platform's intelligent automation has allowed TPAs to optimize resource allocation and minimize time spent on non-revenue-generating tasks. According to survey respondents, 66% reported a decrease in operational expenses after implementing Stax·ai. The correlation between faster processing times and reduced operational costs demonstrates how automation can lead to overall cost efficiencies in trust accounting operations.

client retention and acquisition

client retention
and acquisition

Our transformative automation capabilities have not only improved operational efficiency but have also positively influenced client retention and acquisition. While 33% of respondents observed an increase in client retention, the impact on new client acquisition was even more pronounced. Approximately 66% of TPAs reported growth in new business, with numbers reaching up to 700 new plan sponsors. As partners, we’ve helped to improve service delivery, streamline processes, and provide real-time data visibility has allowed TPAs to enhance customer satisfaction and focus more strategically on business development.

conclusion

conclusion

We are proud of our partners’ success and grateful to be an integral part of their journey. We've proven to be a robust solution for TPAs, particularly in navigating an increasingly complex regulatory environment.

By automating document processing and improving data visibility, we have significantly reduced operational costs and processing times, enabling TPAs to operate more efficiently and effectively. The platform’s influence on new client acquisition underscores its role not only in operational optimization but also in driving business growth. As more TPAs partner with us, they stand to benefit from sustained improvements in workflow automation, cost savings, and enhanced client service—outcomes that will soon be further amplified by the launch of our first-of-its-kind client experience (CX) platform.

Overall, our evolving suite of solutions is more than just a technological upgrade—it is a catalyst for growth and operational excellence within the TPA industry.

Copyright © 2019-2024 Stax.ai, Inc.

All rights reserved.

Copyright © 2019-2024 Stax.ai, Inc.

All rights reserved.

Copyright © 2019-2024 Stax.ai, Inc.

All rights reserved.

Copyright © 2019-2024 Stax.ai, Inc.

All rights reserved.