Case Study: EPIC Retirement Plan Services achieves a 50% reduction in billing time and labor with BillingPlatform

EPIC RPS Increases Effciencies with BillingPlatform

EPIC Retirement Plan Services, an NBT Bancorp company that administers $12 billion across some 3,300 retirement plans, was hampered by an outdated, homegrown billing process that relied on multiple small applications and manual work. To modernize fee management and centralize billing for its growing 401(k) business, EPIC implemented BillingPlatform’s cloud-based billing solution.

BillingPlatform provided a configurable, web-based system with an extensible metadata model that allowed EPIC to set up 40 fee models, automate complex rating scenarios, and manage rate changes across thousands of accounts without heavy IT support. The deployment centralized reporting and workflow and produced measurable results: invoice and billing labor costs fell by over 50%, about 75% of the billing process is now automated (cutting billing time by roughly half), and mass fee changes (e.g., 1,500 customers) can be applied in seconds.

EPIC Retirement Plan Services

Dane Alexander

Accounting Supervisor