Benefits Administration Software
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ADP Workforce Now is a cloud-based HR platform for mid-sized businesses. It features customizable modules of various HR services that businesses can tailor to their specific needs, as well as regulatory monitoring and alerts to help businesses remain compliant.
Gusto offers payroll, benefits and compliance capabilities. Gusto is scaled for small to mid-sized businesses, and emphasizes an easy to use interface.
OnPay's payroll and HR is designed for people who want to spend more time running their business, and less on back-office tasks. The application aims to enable users to:
• Run payroll
• Automate taxes
• Let employees do more themselves
• Simplify HR processes
• Offer benefit…
Paylocity provides 24/7 access to your online payroll and human resource data management. Paylocity offers highly customizable payroll functionality, as well as HR, benefits administration, and time and talent management programs.
UKG delivers cloud-based HCM solutions including UKG Pro that help businesses simplify payroll computations, accelerate talent acquisition, manage time and attendance, and support proactive, strategic talent management on a global level.
Paycom is a core HR management software solution. It includes features such as talent acquisition and management, time tracking, and payroll management. It offers some automation capacities, particularly regarding payroll.
Dayforce HCM is a cloud-based platform encompassing HR, payroll, benefits, and talent and workforce management. It provides companies with a scalable framework and real-time data, such as continual pay calculations, to enable efficient decision-making.
isolved is a SaaS-based, cloud-resident Human Capital Management (HCM) solution that provides Payroll, HR, Benefits Administration, Time & Attendance, Talent Management and Compliance. Employers have the ability to schedule an upcoming shift, view overtime levels, run a customized…
Paychex Flex, of Paychex' Online Payroll Services, is a cloud-based human resource management and payroll platform. Paychex offers core and specialized services, and scales to meet the needs of small businesses, SMBs, and large enterprises.
Human Interest headquartered in San Francisco offers their cloud-based 401k administation platform for employers featuring flexible plan design and a dedicated account manager.
Arcoro is an HR technology company focused on the construction industry, offering solutions to help companies hire, manage and grow their back office, professional and skilled trade workforce.
Zenefits is a free, cloud-based core-HR platform. It primarily services small to mid-sized businesses and provides time management and benefits administration capabilities.
Vista® is a human resource, benefits, payroll, recruiting, and self-service software. Functional elements include recruitment, staffing, position and training management, compliance, and performance and compensation.
Namely offers a cloud-based HR platform for integrated core and specialized HR services, including time and employee performance management and onboarding processes.
Pulley is the eponymous equity management platform from the company in San Francisco, that aims to provide the tools and insights to help the user's company fundraise smarter, attract better talent, and stay compliant.
Netchex is a HR, payroll, and tax administration software platform with solutions dedicated to recruitment, hiring, and onboarding as well as payroll, tax compliance, HR, time/attendance, benefits management, and analytics for these areas.
PrimePay is an HR management software that provides employers with tools to use from recruiting to onboarding to offboarding. PrimePay offers support for applicant tracking, payroll, benefits administration, and time tracking to streamline several HR processes.
- Helps employers choose a monthly allowance to go towards employee healthcare
- Allowing members to shop for their own individual healthcare coverage
- Dashboard that allows users to engage, connect,…
PeopleKeep is a new way to offer benefits called personalized benefits. Until now, most small businesses have been unable to offer traditional group benefits because they’re too expensive, too complicated, and too one-size-fits-all. Most people believe benefits are the services a company offers, such as a health insurance plan or 401(k). With personalized benefits, it’s the opposite. Companies give employees tax-free money to spend on the consumer services they find most valuable. It’s…
Benefits Administration Software TrustMap
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Learn More About Benefits Administration Software
What is Benefits Administration Software?
Benefits Administration Software is used to automate the process of managing employee benefits and eligibility, including medical insurance, pension & retirement, and PTO. It centralizes benefits data for administrator, manager, and employee visibility. This type of software also includes healthcare brokerages or marketplaces for use by employers and healthcare analytics platforms for decision optimization.
Benefits administration software saves time managing and scaling benefits administration processes. By centralizing benefits administration to a single platform, businesses can more easily monitor their own benefits expenses and budgeting. It also improves employees’ ability to self-serve their benefits information, such as selecting plans and accessing 3rd party providers. The solutions can also streamline and guide compliance with regulations like the Affordable Care Act.
Benefits administration software can be a standalone solution. However, much of the market consists of HR Management products and HCM suites that encompass some form of benefits administration. Standalone benefits administration software should integrate smoothly with other HR and finance systems. High-quality integrates enable automated data flow from system to system, eliminating the need to update information in multiple systems manually. Many systems are also modularized, so buyers only need to purchase the specific benefits administration features that the organization needs.
Benefits Administration Software Features & Capabilities
- Benefits Record Management
- Online Benefits Enrollment
- Third-Party Carrier Integration
- Document Management
- Total Compensation Statements
- Employee Self-Service Benefits Portal
- Affordable Care Act reporting
- Benefits Dashboards
- Mobile Benefits Access
- Integrations / APIs
Benefits Administration SoftwareComparison
When comparing benefits administration software, consider these factors:
- Standalone Benefits Administration vs. HCM Suite: Does the organization already have an HR management system and only need to layer a point solution on top of it? Or should it adopt a comprehensive HCM suite? The full suite may be overkill for some organizations. In contrast, managing multiple HR systems can be more costly and limit long-term scalability in favor of specific best-of-breed features.
- Benefits Marketplace: Does each option have a native benefits marketplace? If so, are there any limitations on provider options or advantageous terms of specific benefits providers? The quality and pricing of a given benefits marketplace can dramatically impact the overall TCO associated with a given platform.
- Mobile Accessibility: Many employees will prefer to engage with HR systems mobily. Most leading benefits administration software will have some form of mobile app, but not all are created equal. Consider the ease of use and level of functionality that the mobile application actually supports to determine how well it will serve employees’ needs.
Pricing Information
Sometimes, benefits enrollment systems are sold as part of a larger HR software suite, and pricing for the benefits administration component is rolled into the overall price. But for standalone products, there are different pricing models.
Two of the most common are a monthly flat fee, or a flat fee minimum plus a per employee, per month license. The latter is dependent on the number of employees in the system which may act as a brake on adoption. Under this scenario, common pricing is a flat fee of $30 to $200 or more, depending on capabilities, plus a per employee price of $10 to $20.