ORLANDO, Fla., Feb. 11, 2020 (GLOBE NEWSWIRE) -- PlanSource, a leading provider of cloud-based benefits administration technology, experienced vigorous growth in 2019, with significant increases in new business bookings and customer adoption, a new carrier partnership program and multiple product innovations.
2019 highlights
- New business growth – 33% year-over-year growth in new business bookings
- Increased customer adoption – More than 1,500 new employers, associations and third-party resellers started using PlanSource to manage benefits programs in 2019, including notable organizations such as:
- Stark County Schools' Council is a consortium of school districts and related agencies with 15,000 employees serving 135 member schools, libraries and colleges.
- PAISBOA (Philadelphia Area Independent School Business Officers Association), a regional association business officers in 132 schools with 9,900 employees.
- Employee Family Protection, Inc. (EFP), a reseller of PlanSource, is a leading benefits and HR fulfillment services firm with more than 500 employer clients nationally.
- Acquisition by Vista Equity Partners – Vista, a leading investment firm focused on enterprise software, data and technology-enabled businesses, acquired PlanSource in April 2019. Vista partners with management teams to foster operational excellence, paving the way for sustainable growth opportunities, innovation and impact in the markets they serve. See details of the acquisition here.
- PlanSource Boost – A groundbreaking program with leading insurance carriers designed to modernize the benefits experience through real-time API integrations, an engaging employee shopping experience and time-saving services. Participating carriers include Aflac, Allstate Benefits, Cigna, Guardian Life, Lincoln, MetLife, Mutual of Omaha, Prudential, The Hartford, The Standard, Unum and Voya. See more.
- Product innovations – PlanSource launched numerous tools and enhancements to provide a better benefits experience, including a new HR user experience, integrated text messaging, Jellyvision decision support integration and a user community forum.
- Strengthened executive leadership team – Expanded the depth of its executive team by welcoming experienced industry veterans Dave Osborne, formerly of SAP, as Chief Revenue Officer and Srini Venkatramani, formerly of IBM, as Chief Product and Technology Officer.
- ISO certification – After an extensive third-party audit, PlanSource received ISO 27001 certification, which verifies that the company has a rigid information security management system in place that meets the standards specified by the International Organization for Standardization (ISO) and International Electrotechnical Commission (IEC).
“2019 was a transformational year for PlanSource,” said Dayne Williams, CEO of PlanSource. “We really hit our stride and made important connections with carriers and technology providers. And now, with backing from Vista, we have a clear vision of our roadmap and strategy for unlocking growth opportunities in 2020 and beyond.”
New mobile-friendly HR experience headlines year of product innovations
In 2019, PlanSource rolled out four major software releases containing numerous enhancements to the company’s benefits administration technology.
- New HR experience – The PlanSource benefits administration experience for HR teams has been redesigned to be mobile friendly and accessible, and streamlines common tasks, consolidates information and improves usability. This new, modern experience was rolled out in phases throughout 2019, giving users the opportunity to become gradually accustomed to the new design and provide feedback. See a demo of the new experience here.
- Integrated text messaging – A text messaging tool has been added directly to the PlanSource system so HR can send important benefits information to employees through multiple channels. HR teams can create unlimited campaigns, customize messaging to their target audience, and test, schedule and track all communications.
- ALEX Integration – PlanSource has partnered with Jellyvision to integrate ALEX, Jellyvision’s interactive guidance platform, into the PlanSource benefits administration system. ALEX uses a blend of subject matter expertise and behavioral science to help people make smart choices about their benefits and savings. Learn more at www.plansource.com/jellyvision.
More information on these updates and all the company’s product releases are available at www.plansource.com/releases.
About PlanSource
PlanSource is a technology company driven to create a better benefits experience for employers and their employees. More than 5 million consumers receive their benefits through the PlanSource platform, which provides flexible and intuitive software and services for benefits administration. By combining industry-leading software and a full suite of technology-enabled services, PlanSource provides companies of all sizes with a complete solution for benefits shopping, enrollment, billing, compliance and administration. Learn more at www.plansource.com.
PlanSource is a registered trademark of PlanSource, Inc., and PlanSource owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.