BenefitElect, Inc. Acknowledged as a Key HR Software Provider by APPS RUN THE WORLD in the HCM Top 500 Market Report

855 SW Yates Drive, Suite 202

Bend, OR, 97702, United States

1 541-323-1600

https://www.benefitelect.com/

568 BenefitElect, Inc.

BenefitElect, Inc. Strengths, Domain Expertise, and Key Differentiators

BenefitElect stands out in the HR strategy and administration landscape due to several key differentiators. Its domain expertise enables the company to understand the unique challenges faced by organizations in managing employee benefits. BenefitElect's product portfolio showcases a 4th generation platform that accommodates both industry and organization-specific benefit requirements. This flexibility allows administrators to manage life events year-round, ensure data validation and integration, and gain real-time visibility into all benefit processes.

BenefitElect, Inc. Recent Developments

In November 2019, BenefitElect's latest release, introduced bug fixes and improvements across various areas, including Open Enrollment, Close Open Enrollment, and Close Open Enrollment Reporting. These updates enhance user experience and ensure smoother operations for administrators. While specific revenue and profit data is not publicly available, BenefitElect's focus on innovation and partnership indicates a commitment to sustainable growth and profitability.

BenefitElect, Inc. Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying BenefitElect, Inc. 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 BenefitElect, Inc. 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 BenefitElect customers.

BenefitElect, Inc. Key Cloud and HCM Applications

BenefitElect

BenefitElect, Inc. HCM and Cloud HCM Applications Revenues, $M:

Type/Year20222023YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
HCM Applications Revenues, $M Subscribe Subscribe Subscribe

* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** 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.

BenefitElect, Inc. Revenue Breakdown by Type:

TypeLicenseServicesHardwareS&MSaaSPaaSIaaSOtherTotal
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe 100%
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe

BenefitElect, Inc. Total and HCM Applications Revenues by Region:

Region% of Total Revenues2023 Total Revenues, $M2023 HCM Applications Revenues, $M
Americas Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe

BenefitElect, Inc. Direct vs Indirect sales

RegionDirect SalesIndirect SalesTotal
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

BenefitElect, Inc. Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified BenefitElect, Inc. Customers


No. of BenefitElect, Inc. Customers: x

No. of BenefitElect, Inc. HCM Applications Customers: x

No. of BenefitElect, Inc. Cloud HCM Customers: x

No. of BenefitElect, Inc. Cloud HCM Subscribers: x


BenefitElect primarily caters to customers in the United States. While specific customer numbers are undisclosed, BenefitElect has a growing base of satisfied clients who rely on its innovative solutions.

BenefitElect, Inc. Market Opportunities, M&A and Geo Expansions

BenefitElect's robust system is engineered on a state-of-the-art 4th generation platform, specifically architected to facilitate seamless connectivity between individuals, processes, and technology. From HR and payroll systems to third-party administrators and carriers, BenefitElect excels in accommodating diverse benefit requirements, catering to specific industry and organizational needs. Administrators can leverage these capabilities to effectively manage life events year-round, ensuring timely and precise data validation and integration, while gaining real-time visibility into all benefit processes.

BenefitElect, Inc. Risks and Challenges

In 2022, there was a change of the CEO, Robert Urban, who was on this position form 2020. Such frequent changes in the leadership team can be a real risk for the future development of the company.

BenefitElect, Inc. Ecosystem, Partners, Resellers and SI

In March 2021, BenefitElect forged a strategic partnership with TempWorks Staffing Software. This collaboration aims to deliver intuitive and agile benefits administration and employee data management technology to staffing firms. By combining their expertise, BenefitElect and TempWorks Software offer staffing firms the tools to optimize efficiency, profitability, and achieve their business goals. This partnership demonstrates BenefitElect's dedication to expanding its market reach and providing tailored solutions to industry-specific needs.

They have a partnership with RiskRT and data collected by BenefitElect is transmitted to RiskRT to confirm ACA and IRS compliance

BenefitElect, Inc. Cloud Platform (PaaS) and Infrastructure (IaaS) Details

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  • BenefitElect, Inc. Public Cloud and Infrastructure (IaaS)
  • BenefitElect, Inc. Platform (PaaS)
  • BenefitElect, Inc. Application Delivery
  • BenefitElect, Inc. Private Cloud and Data Centers

Research Methodology

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).


For additional information on our methodologies, here's the link:

https://www.appsruntheworld.com/About Us
https://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ



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