Businessolver Strengths, Domain Expertise, and Key Differentiators
Since 1998, Businessolver has delivered market-changing benefits administration technology supported by an intrinsic responsiveness to client needs. The company creates client programs that maximize benefits 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 benefits selections. Founded by HR professionals, Businessolver’s unwavering service-oriented culture and secure SaaS platform provide measurable success in its mission to provide complete client delight.
Businessolver Recent Developments
In May 2021, Businessolver, a provider of SaaS-based benefits administration technology solutions, and Amino, a health care guidance platform, announced a strategic partnership to launch MyChoice Find a Provider, a health care navigation tool to ensure individuals can find and book high-quality, cost-effective medical care. Powered by Amino's Smart Match technology, MyChoice Find a Provider seamlessly integrates with Businessolver's benefits technology platform Benefitsolver, MyChoice Mobile App, and personal benefits assistant SofiaSM to help individuals make informed health care decisions based on their condition, medical plan, and geographic location/preference—at a point in time and place where they already interact with their benefits.
In May 2020, Businessolver introduced Businessolver Benefits Pulse, an interactive dashboard providing insight into the latest workplace benefits trends as impacted by COVID-19. This dashboard is populated weekly from data derived from Businessolver’s proprietary benefits technology, Benefitsolver. This information provides employers, brokers, advisors and many more, with a snapshot of the workplace regarding loss of benefits or change in status due to the pandemic.
In January 2020, Businessolver unveiled Goal Accounts (GA), their latest product innovation within the MyChoice Accounts suite of solutions which was developed and launched in 2019. Designed to address persistent issues with financial well-being, these consumer accounts provide employees with a simplified opportunity to improve financial health. They also equip employers with a valuable, unique benefits offering that takes total employee well-being into account — helping to increase employee productivity and reduce stress related to financial issues.
Businessolver Mergers and Acquisitions (M&A) Activities
Businessolver Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Businessolver applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Businessolver and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Benefitsolver, Businessolver ACA Compliance Suite customers.
Ownership: - x
Number of Employees: 1220
Functional Markets: HCM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K745, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Businessolver Key Enterprise and Cloud Applications
Benefitsolver, Businessolver ACA Compliance Suite
Businessolver Revenues, $M:
|Type/Year||2020||2021||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Businessolver Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Businessolver Enterprise Applications Revenues By Functional Markets, $M:
Businessolver Enterprise Applications Revenues By Verticals, $M:
Businessolver Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
Businessolver Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
Businessolver Customers - Breakdown by Geo, Size, Vertical and Product
No. of Businessolver Customers: 700
No. of Businessolver Enterprise Applications Customers: 700
No. of Businessolver Cloud Customers: x
No. of Businessolver Cloud Subscribers: x
Among Businessolver 700+ customers are Mercer, Wells Fargo, Health e(Fx), Principal Financial Group and others.
Businessolver Market Opportunities, M&A and Geo Expansions
In June 2021, Businessolver, a provider of SaaS-based benefits administration technology solutions, announced the addition of Christina Mainelli to its Board of Directors. Mainelli—who brings to the post more than 20 years of experience in health care, technology, and business operations—holds additional distinction as Businessolver's first-ever female board member.
The company launched MyChoice Accounts, their proprietary consumer accounts solution, fully integrated and API-enabled with Benefitsolver. With the launch of this solution, they grew their participant base by 129%, allowing employees to manage their accounts from one system, one card and one app, while increasing efficiency for clients' HR personnel through simplified funding, streamlined payroll processes and automated data exchange.
In 2018 Warburg Pincus, a global private equity firm with over $46 billion of capital under management, made an investment in Businessolver and will expand Businessolver's strategic initiatives, governance and oversight. Warburg Pincus and the Businessolver executive team have already begun partnering together to accelerate Businessolver's focus on technology innovation and providing its customers with leading products and services.
Businessolver Risks and Challenges
Verticalization and expansion of its ecosystem could be a key to Businessolver's long-term success.
Businessolver Ecosystem, Partners, Resellers and SI
In July 2021, Businessolver, a provider in SaaS-based benefits technology and services, announced the expansion of its exclusive Pinnacle Program with the addition of preferred solution partners Castlight, CirrusMD, Hello Heart, Rightway, and two additional voluntary benefit providers Aura and Recoop. Pinnacle Partners work with Businessolver to build seamless integrations, empathetic employee experiences and provide cost-savings for clients within Businessolver's benefits technology, Benefitsolver. By providing dedicated service and seamless integrations for Businessolver clients, these providers join an exclusive group of existing Pinnacle Partners: Aflac, Allstate Benefits, Allstate Identity Protection, Cigna, Lincoln Financial Group, MetLife, Pets Best, Prudential, Securian, The Hartford, Transamerica, and Voya.
At the end of 2019, Businessolver launched the Pinnacle Partner Program with preferred voluntary insurance carriers and partners, providing key strategic integrations to ensure ease of setup and delivery of their supplemental benefits options via Benefitsolver.
Among Businessolver partners are Benefit Science Technologies, Cornerstone, Discovery Benefits, Flimp, GuideSpark, Healthcare Bluebook, Seyfarth Shaw SoFi.
Businessolver Cloud Infrastructure Insights
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- Businessolver Public Cloud and Infrastructure (IaaS)
- Businessolver Platform (PaaS)
- Businessolver Application Delivery
- Businessolver Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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