August 29, 2013, 9:30 AM — Charlie Billings faced a daunting task: Create an entire IT operation for a company already in full swing.
The company is Lincoln Trust, a provider of 401(k) services, where Billings is vice president of IT and CTO. The company had spent four years achieving high efficiency, with a business operations strategy that relied on enterprise-level workflow technology. The technology--off-the-shelf software that had been customized and run in a private cloud--was so successful that it was the main reason PENSCO Trust bought Lincoln Trust, Billings says.
The sale, completed in March of 2012, transferred about 75 percent of Lincoln Trust, along with the technology, to PENSCO. That left Lincoln Trust with the 401(k) business line, about half its 200 employees, and a pressing need for a new technology platform.