PenSam signs major IT outsourcing contract
30 September 2016
PenSam has just signed a contract to outsource the running and development of all its IT systems in the pensions area and the shared group IT to KMD (a Danish IT and software company). The scope of the contract is unusual in the pensions industry and it is the biggest company contract in KMD's history. Plesner has assisted PenSam with the contract.
The new contract between PenSam and KMD means that for the next seven years KMD is to administer PenSam's IT portfolio in the pensions area and shared group services.
The contract entails an extensive restructuring of PenSam's core IT systems in the pensions area. For the next two years, KMD and PenSam are to work together to implement a new solution in the pensions area. KMD will also take over all running and maintenance of the remaining IT systems at the PenSam group.
The contract means that slightly more than 50 employees will be transferred from PenSam to the KMD group.
To KMD, the contract is the biggest company contract ever and it shows the IT company's potential as a result of a number of acquisitions in recent years. Before the conclusion of the contract, KMD acquired the company Edlund, which has previously provided a pension solution to PenSam and other pension companies.
PenSam's core business activities are occupational pension schemes and the group also offers banking and insurance products. About 400,000 employees, primarily employees working in the public sector, have an occupational pension scheme with PenSam.