The public needs to be educated about SS&C. They wreck companies and peoples lives. These stock manipulation shell companies acquire companies that have cash and assets with the intent of laying the people off and stripping the company of its cash and assets. Companies like SS&C hurt the local economy and need to be exposed.
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How long can a shell of a corporation operate without truly providing the services it is contracted to do ?
Yes, DST is gone. Its now SS&C. On the Health side there are only a handful of clients left. Don’t know why those handful of clients are hanging on and not moving to a more modern secure system rather than fighting their old technology system everyday. At Health the clients place calls through support and we have no one to work their issues. No systems people left to support them. We just make excuses and leave their trouble tickets open. Management tells us to just close the tickets anyway even though we have done nothing to resolve their issues. This can not continue indefinitely.
In the case if Health Solutions, they have left behind a broken company devoid of much of its talent. This company was in decline for over a decade before the merger so I would expect retrenchment strategies to be applied aggressively soon.
Lets be honest. Legacy DST management is responsible for this. If they ran the company properly and truly focused or servicing existing clients and growth, SS&C would never have to been able acquire them.
DST leadership cashed out and sold out the city of KC, the employees and the company.
Believe it or not, they even did the same thing to a division of Citi SS&C acquired. They shut it down took all the assets as well. Its a pattern for SS&C.
They did the same to us Boston Financial. Made lots of promises but ultimately just pulled out all the cash and shut us down.
A suggestion to SS&C. If you are not a stock manipulation organization and want to really support the electronic healthcare industry, bring back the knowledgeable people you laid off and listen to them how you can recover this healthcare technology company that was trying to support the healthcare companies that had stayed on as clients. The leaders and staff you kept are clueless. As was stated here in another post, the managers spend their days meeting about trivial nothing.
Those of us still here at DST SS&C Health Solutions have watched this company go down and down. The DST company prior to SS&C would not make an investment to modernize the technology. They just took the clients reoccurring revenue as the client base got smaller and smaller. Then SS&C came along and started pulling out all of our funds and emptying our bank accounts. Now we have no money and most of the knowledgeable people have either been laid off or have left. The remaining employees are suffering as well as the clients that are hanging on. The clients hanging on are the smaller clients that really can not afford to change systems during this economic downturn time.
The DST management is a joke. The management left knows nothing about healthcare IT. They just talk to each other and exercise their egos to staff. There is no way a company can stay in business with this type or lack of leadership. The company laid off the leaders with any knowledge. The company just gets smaller and smaller. Soon there will be nothing left. Then SS&C has done their job and crashed another company.
The work life of DST manager is playing office internally. Sending invites for internal meetings to review useless power points that do nothing for the organization or for the very few clients they have left. They conduct these internal meetings that only other managers and employees attend as the few clients they have left suffer and struggle with old outdated software that no longer works. Clients calling and complaining, sending in cancellations. Anyone up for an internal meeting, we can order food.
This is very true.
One of the best things about my Post-DST job is that my boss knows every application we use inside and out. She may not have the same ideas about using them to service our clients as I do, but she knows her stuff.
My last several months at DST were spent committing information to electronic resources because I did not have time to bug programming or spend half a day finding information on a file. I had to have that information for myself. I only hope it's helping the unfortunate people still stuck working there, because as OP said, your managers don't know anything at all about the systems they're supposed to service.
SS&C have come in, stripped jobs and outsourced them abroad (India, Thailand, China and beyond) and streamlined the business best they can to maximise their profit.
The problem they are not recognising (in the mad dash for that profit margin) that many of the systems are like jigsaw pieces of which only a handful of people truly understand.
Another painful afliction that blights DST is that much of top management and middle management have next to no idea of many of these systems work/hang together and worse still have very little 'real-world' experience - so when they hear a new fangled buzzword and get all excited, organise a few 'meetings' then for all their panting the end-result is a pile of poo - 'agile' anyone..?
Word of advice (SS&C) be precise and careful on who you remove, systems you adopt and consider what much of management really do (beyond hiding behind charts and reports...oh and buzzwords).
Unfortunately, what SS&C does in not illegal. It is immoral and unethical business but stock manipulation organizations use a loop hole to put money in their pockets. The type of business practices organizations like SS&C exercises does harm local economies and results in large layoffs within the cities and states that house these public stock market companies. Organizations like SS&C manipulation of public stock market companies should be stopped but the enforcement of this is not supported by the legal system. Its too bad its this way.
You said that right on. DST was a part of the Kansas City community as a major employer in the area and community. They owed many buildings in the community and was one of the largest employers in Kansas City then SS&C came along. Now the buildings that housed many employees in the area have been sold or have for sale signs posted. SS&C really hurt the Kansas City business community and damaged the economy. They did the same to DST Health in Birmingham Alabama. DST Health was a major employer in Birmingham Alabama. Now only a handful of people still work there. Look at all of the companies SS&C acquires. Its the same story ...........,,