Businessolver Solidifies Market Leadership Position in 2020
Businessolver, a leader in SaaS-based benefits technology and services, completed 2020 with a strengthened market position and forward industry momentum, driven by strategic investments ensuring business continuity, uninterrupted client service, and consistent employee safety and productivity. Businessolver’s tenured leadership acted swiftly and decisively to not only safeguard operations and employee well-being, but also increased business performance through its intentional focus on innovation and transparent delivery of Technology with Heart.
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“The pressures and challenges faced by the HR industry in 2020 were like nothing we have ever seen,” said Jon Shanahan, Businessolver Founder and CEO. “As the technology behind their benefits programs, our clients and our partners trusted us to rise to the challenge of facing head on the pressures on their human capital, the impact on declined total well-being and the immense shift to a virtual or socially-distant environment. By listening to our clients and consulting on their needs, we have been incredibly fortunate to be entering 2021 in a solid financial position allowing us to lead the way in what’s next for benefits technology.”
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Businessolver expanded its footprint in high-growth business including the addition of new clients from the Fortune 100, large-scale organizations and pooled insurance groups. Businessolver’s 2020 achievements propel the company for continued success in 2021 and beyond.
Organizational excellence aids response-readiness during pandemic
1. The company continued strong client retention of over 95%.
2. Using the Baldrige Performance Excellence Framework as its roadmap for organizational excellence, as it has every year since 2017, Businessolver received Gold Level recognition in 2020, the highest level of state recognition, for demonstrating the framework’s core values. By living those values, Businessolver was able to rise to the myriad challenges of 2020 and provide exemplary support to its clients.
3. While maintaining a combined tenure of 50+ years in steadfast executive leadership leading the way in strategy, vision, engagement and compliance, four additional leaders were added to the executive team to continue Businessolver’s focus on organizational excellence and market growth.
4. Businessolver launched its Navigating the New Normal information center in addition to the Benefits Pulse, to keep clients informed of benefit trends related to COVID-19, as well as the increase of new federal regulations in 2020, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Families First Coronavirus Response Act (FFCRA) and a variety of complex extensions affecting COBRA.
5. With an obsessive drive for security, Businessolver successfully completed thousands of daily scans to ensure Benefitsolver® protections that ensured zero security breaches in 2020 while maintaining a 100% uptime during the most critical enrollment periods.
6. Adhering to process and leveraging technology in a fully remote environment, Businessolver’s Critical to Quality compliance checks which prevent gaps in service and ensure quality product jumped over five percentage points during 2020.
7. The Businessolver Pinnacle Partner Program added seven new preferred voluntary benefits carriers and partners. With 12 partners now participating in the program, Businessolver clients and their employees are provided with an advanced user experience that helps them make the most of their benefits investment.
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