What sort of thing are you trying to do? Depending on the size row by row updates could be slow
I guess you have a few options but I think if the business logic is complicated I'd be tempted to dump the data into a staging table then run a stored proc
The other option would be to use a script component in the data flow
If the logic is simple (eg first three characters of a column) then I guess you could use a derived column in SSIS or a slow option could be puting a SQL function on the import table 😀
Mack