DES MOINES (July 28, 2016)–Businessolver, a leader in SaaS-based benefits technology, completed a successful first half of 2016 delivering innovative solutions for its clients with a focused service delivery model backed by a comprehensive approach to quality. Driven by its year-over-year revenue growth of over 35% and a commitment to profitability, in the first half of the year Businessolver supported its marquee client wins with a dedication to quality initiatives, industry-leading products, and continued thought leadership.
Key Business Wins Yield Significant Client Savings
Businessolver provided Motorola Mobility (a division of Lenovo Group) with its SaaS-based platform, which complies with Affordable Care Act (ACA) mandates – offering a nimble, transparent, and expert partner for the Motorola Mobility and Lenovo benefits teams supporting more than 4,000 employees.
Motorola Mobility’s benefits offerings are consolidated and easily accessible on the Businessolver platform, which has driven a markedly improved user experience and operating efficiency, as well as reduced spending. The partnership with Businessolver has saved Lenovo and Motorola Mobility nearly $1 million in its first year.
Businessolver also implemented its platform for Bob Evans Farms, seamlessly transitioning the restaurant chain and its 30,000 employees onto the Businessolver platform in less than 90 days. Every Bob Evans benefit plan was replaced, the benefits administration system was transitioned and 401(k) records were transferred to a new recordkeeper – all in time for the company’s annual enrollment period. “We could not have done it without them,” said Jenny Tour, Director of Benefits at Bob Evans. “Businessolver’s technology played a big role in the success of our Open Enrollment. It’s simple, easy to use and just makes sense. It’s how benefits should be.”
ACA Solution and IRS Certification Ease Client Compliance Burdens
Businessolver was successful this year in supporting approximately 350 clients through complying with the latest major provision of the ACA – distributing and transmitting data for 1095-C forms, which certify to the IRS that employees were offered affordable coverage under ACA. More than 70 percent of Businessolver’s large employer clients used the company’s ACA services: Businessolver created and distributed more than 1.5 million 1095-C forms, and transmitted more than 2,500 FEINs with coverage details on more than 5 million members.
The company was proactive in assisting its clients in successfully meeting their regulatory responsibilities; last November, Businessolver was one of the first providers to be certified by the IRS as an Approved Transmitter, allowing the company to file electronic compliance documents to the Affordable Care Act Information Returns (AIR) program on behalf of its clients.
“We’re proud of the foundation we’ve set in developing the ACA Compliance Suite and gaining our IRS transmittal certification – helping our clients to avoid hours of filing headaches and thousands of dollars in potential penalties,” said Angel Hower, Businessolver ACA Product Lead. “We’re working with our clients to continue to make the product and the process even better for 2017 and beyond.”
Robin Sgutt, Benefit Plans Manager at Motorola Mobility, said, “Businessolver did a great job converting data from our previous administration platform – IRS transmittal was a success. Our management team and ERISA legal team were thrilled that the process was completed ahead of the deadline and successfully!”
Executive Hire Propels Performance Excellence
Businessolver was pleased to announce the hire of Scott Burgmeyer, Senior Vice President of Quality and Improvement. Burgmeyer comes to Businessolver with 20 years of experience in driving organizational quality and performance excellence, most recently serving as the Continuous Improvement Manager at Bridgestone. At Bridgestone, he was responsible for the design and deployment of systems to improve, innovate, and sustain processes and employee engagement in organizational quality. Burgmeyer has deep expertise in Six Sigma and other quality assurance systems, and leads a team at Businessolver to standardize company processes, documentation, problem solving, and validation by leveraging DMAIC and the Malcolm Baldrige Performance Excellence Framework.
“We’re thrilled to have Scott join our team with a passion and expertise to strengthen and drive our companywide commitment to quality,” said Jon Shanahan, Businessolver CEO. “Strengthened processes are showing results in proactive problem solving – there’s less rework and more getting it right the first time. I see Scott’s influence across all of our teams as each person comes to realize the role they have to play in performance excellence.”
Thought Leadership Broadens Industry Reach, Drives Workplace Empathy
Last month, Businessolver completed its annual Vision 20/16 Tour, a series of regional forums for industry professionals to exchange ideas and address the challenges they face. This year’s events touched on wide-ranging topics from technological advances like machine learning to the implications of the upcoming presidential election, market consolidation and employee engagement among a multigenerational workforce.
The company also announced results from its first-ever Workplace Empathy Monitor. The research offers data and insight into how CEOs, HR leaders and employees view empathy and its financial impact for organizations. Among the notable insights in the Workplace Empathy Monitor report, 42 percent of Americans say they have chosen to buy products from organizations that are empathetic, and one in three employees would switch companies, for equal pay, if the other company were more empathetic.
“We believe strongly that empathy holds the key to unlocking business results – for people and profit,” said Rae Shanahan, Businessolver Chief Strategy Officer. “We’ve long known that what people want most is to be heard and understood – that’s what empathy boils down to. Our research indicates that people are willing to take their talents and consumer dollars elsewhere when empathy is lacking. That’s why embracing empathy is so important and represents such an extraordinary opportunity for companies.”
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About Businessolver
Since 1998, Businessolver has delivered market-changing benefits administration technology supported by an intrinsic responsiveness to client needs. It creates client programs that maximize benefit program investment, minimize risk exposure, and engage employees with easy-to-use solutions and communication tools to assist them in making wise and cost-efficient benefit selections. Founded by HR professionals, Businessolver’s unwavering service-oriented culture and secure SaaS platform provides measurable success in its mission to provide complete client delight.
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