Benefitfocus Recent Developments
In March 2018, Benefitfocus launched BENEFITFOCUS BENEFITSPLACE, a new offering that connects the entire U.S. employee benefits industry. BenefitsPlace unites brokers, employers, carriers and suppliers on a single platform and offers consumers a wide-range of benefits products for personal wellbeing and security at any stage in life. The announcement was made at Benefitfocus’ One Place annual user conference. In June 2017, Benefitfocus unveiled its Summer Software Release, which includes features inspired by Benefitfocus customer feedback. The new release continues to advance the design and implementation of personalized benefits strategies for today’s diverse workforce. In addition, continued investments in platform performance and data accuracy set employers and insurance carriers up for success during the 2018 fall open enrollment season. Several months later Benefitfocus unveiled its Winter Software Release, which includes platform investments to simplify end-of-year reporting and deliver data-driven insights for 2018 planning. The release also includes new communications capabilities to increase transparency and improve personalization to ensure open enrollment success.
Benefitfocus Overview
Ownership: - BNFT:NasdaqGM
Employees: 1450
Functional Market: Benefits Administration,
Key Verticals: Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Manufacturing, Media, Professional Services, Retail, Transportation,
Benefitfocus Key Cloud & HCM Applications
Benefitfocus Platform,
SCORES Analysis
Benefitfocus Strengths
Benefitfocus specializes in a cloud-based enterprise benefits management software platform for consumers, employers, insurance carriers, and brokers. As one of the first Cloud platforms dedicated to the benefits administration market, Benefitfocus has attracted a growing number of major accounts including employers and insurers that rely on its benefits management software platform for automating and streamlining the enrollment process for end users as well as managing benefits data exchange among employers, carriers, brokers and their information systems. Benefitfocus benefits management technology powers many of the leading private insurance exchanges. The Benefitfocus Marketplace enables a consumer-driven benefits selection experience with tools that enable a personalized benefits “shopping” experience guiding employees to choose benefits plans that suit their individual needs. Benefitfocus also provides Advanced Analytics, a data analytics solution that helps carriers and their self-insured employers identify cost drivers, recognize trends, and predict future risks and costs.
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- Key differentiators
- Domain Expertise
- Product portfolio
- Solution scope
Benefitfocus HCM & Cloud HCM Applications Revenues, $M:
| Type/Year | 2016 | 2017 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud 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.
Benefitfocus Revenue Breakdown by Type:
| Type | License | Services | Hardware | Support & Maintenance | SaaS |
|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Benefitfocus HCM Applications Revenues By Sub-Functional Markets, $M:
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Split by Sub-Functional Markets
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2017 HCM Revenues, By Sub-Functional Markets, $M
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Benefitfocus HCM Applications Revenues By Verticals, $M:
Benefitfocus Total & HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2017 Total Revenues, $M | 2017 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Benefitfocus Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Benefitfocus Customers
No. of Customers: Subscribe
No. of HCM Applications Customers: Subscribe
No. of Cloud HCM Customers: Subscribe
No. of Cloud HCM Subscribers: Subscribe
Don't Miss our Customer Database
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- Reference wins across regions
- Customer Size segments
- Customer wins momentum
Benefitfocus Opportunities
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- Market Opportunities at the vertical and subvertical levels
- Mergers and Acquisitions (M&A), Funding
- Geo Expansions
Benefitfocus Risks
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- Ability to handle internal and external risk and challenges
Benefitfocus Ecosystem
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- Health of ecosystem
- Network Effects of BPO, ISV, SI
- VAR Partners
- Direct vs Indirect sales
Benefitfocus Cloud Platform (PaaS) & Infrastructure (IaaS) Details
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- Cloud Infrastructure (IaaS)
- Cloud Platform (PaaS)
- Cloud Application delivery (SaaS)
- Data Center (Hosting)
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/https://www.appsruntheworld.com/offerings
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