Compensation Fund breakfast turns its attention to PE
The Compensation Fund (CF) Commissioner’s breakfast session with stakeholders will be held in Port Elizabeth on Saturday, at which the new claims management system will come under the spotlight.
This time Commissioner, Vuyo Mafata and his team will network with the South African Women in Construction.
The session Follows a similar event held two weeks ago in East London where the team met with the Eastern Cape Black Business Forum.
Challenges with previous and current claims system include:
Lack of automated verification and validation of information;
There is lack of automation of business processes;
Challenges with the switching of batches,
Manual generation of reports;
Lack of Integration of systems (Claims and payment system);
Data Migration from the legacy systems;
Segregation of duties; and
Lack of Document Management System.
The meeting is expected to be told that through the e-COID project, the Fund has realised improved validation of user information faster turnaround time for registration of companies at the fund as well as efficiency of submission of Return of Earnings.
Other significant benefits of the new claims system are:
Faster turnaround due to efficient, streamlined processes;
Correct workflows the right process going to the right person at the right time;
Open communication status updates on the progress of your claims;
Timeous payments to all stakeholders;
A single source of the truth data migration from legacy systems; and
Correct data data cleansing and enrichment.
Source: Government of South Africa