Philippine Retirement Authority

An Information Technology Audit on the

Philippine Retirement Authority

Special Retiree Service Syste

1.0 INTRODUCTION

The previous paper illustrated the present state of the Philippine Retirement Authority, its processes, and finally concluded with an assessment of its the SWOT elements. This report follows up by asking: Given its vision of developing the Philippines into a retirement haven, will investing in information technology bring the PRA closer to its vision?

We believe that there is enough impetus to pursue investments in information technology for reasons that many tourist entries are enjoyed by the country, while the number of retirees is expected to dramatically increase as worldwide populations, particularly baby boomers, age. Given the PRA's current membership level of 3,600+ members, there exists a potential for at least 15,000 members by the end of 2010. In the face of peace and order, austerity measures, and foreign competition, the benefits seem to far outweigh the risks.

It is with this conclusion that a 2-pronged approach is recommended in order to move the PRA closer to its vision. These are:

(1) Enhancing marketing capability which will lead to higher sales, and

(2) Building operational capacity through the creation of efficient processes, and introducing new and radical means of doing things.

2.0 A GLIMPSE INTO THE FUTURE: THE PRA IN 2034

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3.0 WITHIN REACH: THE PRA IN 2007

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4.0 NEW BUSINESS PROCESS PROJECTED

With the new capabilities that can be developed, the business process of PRA can be enhanced to shift from a procedure-based perspective into a more qualitative marketing and servicing oriented through

st. A projected business process may be designed as follows:

4.1 Build/Maintain Strong Market Presence

From the current "hunting" approach that involves looking, approaching and convincing clients to know about PRA and the SRRV Program, a more dynamic through

st can be established. The activities that will be covered by this step will include the expansion of accreditation of resorts, hotels, travel agencies, service/medical/care-giving facilities as well as networking with local and international marketers. The interactive website can serve as the web portal of the retirees for their special and various needs. The site may be able to generate interest among foreigners and former Filipinos. From a low-profile government agency, it is important for PRA to make itself felt and to push itself into the attention of the retirees market. The prospecting and invitation steps in the current business process will also be included in this step. All marketing communications in every media channel will also fall in this process.

4.2 Develop Client Relations

This step begins when a prospective retiree client initiates contact with PRA in whatever communication channel he or she may use (phone, postal mail, courier mail, fax, personal or walk-in, text or email). This second step is essentially geared on creating and establishing positive relationship with the prospective retirees, the clients. This step will cover the activities from entertaining of inquiries, briefing clients about what the program is all about, up to entertaining applications. Moreover, this step will emphasize the gradual earning of the trust and confidence of clients on the SRRV Program, on the PRA and on the country as a whole. Aside from the activities that must be performed, the qualitative dimension of the client's experience of the PRA Brand should be considered as a very critical factor.

4.3 Formalize Program Membership

This part of the process will involve the processing of applications, issuance of the SRRV and up to the ceremonial activity of Oath Taking by the new retiree member. Again, the relationship aspect of this step includes the conditioning of the new retiree member as having been taken under the protection and community of the organization. This is vital in strengthening the "Portal" concept role of PRA in their stay in the country.

4.4 Sustain Client Relations

The activities of this process shall cover all the servicing activities currently being performed as well as providing of new services that will be introduced. The new services will include.

4.5 Membership Termination and Post-Membership Relations

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IV. DESIRED STATE

Since the main objective of PRA is to encourage foreign investment into the Philippines through retirees (including former Filipino) from different countries and foreign nationals with business interest / functions in our country, we take the initial steps by significantly changing the way PRA are doing things.

Let us first put ourselves ten to twenty years from now. A retiree from Japan is scouting for a country to spend his retirement years. He surfs in the internet and find Philippines as the most attractive retirement program. By calling through

a toll-free phone provided in the PRA's website, a customer service representative attends to all his queries and do the marketing of the company's product / program. He also has the option to e-mail directly to PRA or even chat depending on his preference.

After getting all the important information about this Japanese retiree, he is now referred to a GSA (general sales agents) on his home country who will do the actual visit and get all the required data (hard facts) with the use of a wireless equipment (e.g. PDA). Application form, signatures, pictures and other related documentation will be uploaded by the GSA to PRA's system. He can also do the bank remittance for the required amount all within a day.

Upon receipt of all the required documentation, PRA processed internally the generation of SRR Visa in close coordination with Bureau of Immigration and other related government agencies. This Japanese retiree can come to the Philippines anytime to claim his SRR Visa