PlanSource Strengths, Domain Expertise, and Key Differentiators
PlanSource is a technology company driven to create a better benefits experience for employees and the HR teams that support them. Nearly 4.5 million consumers receive their benefits through the PlanSource platform, which provides flexible and intuitive software and services for benefits administration. By combining industry-leading software and a full suite of technology-enabled services, PlanSource provides companies of all sizes with a complete solution for benefits shopping, enrollment, billing, compliance and administration.
PlanSource Recent Developments
In August 2022, PlanSource released Celadon prodcut release focused on a new engagement platform, HCM integrations and more.
In September 2021, PlanSource launched Titan with important updates to Guided Renewal, DecisionIQ, InsightsIQ, enhanced integrations and exciting partner announcements
In April 2020, PlanSource expanded PlanSource Boost, its partner program designed to elevate today’s benefits experience. Recognizing that the benefits industry is fraught with complexities and challenges, PlanSource created the Boost program to alleviate the everyday trials that customers face. PlanSource Boost streamlines all aspects of benefits administration, from the manual, time-consuming processes that bog down HR teams to counterintuitive navigation and disconnects that frustrate and confuse employees, who are otherwise accustomed to the consumer-like ease of online shopping. By partnering directly with insurance carriers, PlanSource Boost offers real-time API integrations, engaging employee shopping experiences and time-saving services.
In June 2019,PlanSource launched Luna, the latest software release. Luna offers enhancements to the HR and employee shopping and enrollment experiences, advances to the self-service renewal tool, as well as the launch of PlanSource Community.
PlanSource Mergers and acquisitions (M&A) Activities
In 2019, PlanSource was acquired by Vista Equity Partners (Vista), an investment firm focused on enterprise software, data and technology-enabled businesses. PlanSource will continue to operate independently.
PlanSource Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying PlanSource 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 PlanSource 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 PlanSource Benefits Administration customers.
Ownership: - Vista Equity Partners
Number of Employees: 800
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K48, 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, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
PlanSource Key Cloud and HCM Applications
PlanSource Benefits Administration
PlanSource HCM and Cloud HCM Applications Revenues, $M:
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* 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.
PlanSource Revenue Breakdown by Type:
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PlanSource HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2021 HCM Revenues, By Sub-Functional Markets, $M
PlanSource HCM Applications Revenues By Verticals, $M:
PlanSource Total and HCM Applications Revenues by Region:
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PlanSource Direct vs Indirect sales
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PlanSource Customers - Breakdown by Geo, Size, Vertical and Product
No. of PlanSource Customers: 3500
No. of PlanSource HCM Applications Customers: 3500
No. of PlanSource Cloud HCM Customers: 3500
No. of PlanSource Cloud HCM Subscribers: x
PlanSource's cloud-based technology helps nearly 3500 employers and 4.5 million consumers with benefits shopping, enrollment, billing, compliance, and administration. Among PlanSource customers are BOSS, Goodwill Industries, 1-800-PetMeds, Saber Healthcare Group, Hard Rock, Delta Private Jets, Xero, Bumble Bee, PES Enrollments, Unum, Reliance Standard and many more. PlanSource provides solutions to companies of all sizes.
PlanSource Market Opportunities, M&A and Geo Expansions
In April 2022, PlanSource launched its Sunglow software release. The Sunglow Release shows PlanSource remains committed to providing consumers with a modern benefits experience, increasing efficiency for HR leaders and utilizing industry leading technology to help employees make the right choices for themselves and their families.
In September 2021, PlanSource launched its Titan Software Release. The Titan Release shows PlanSource remains committed to providing consumers a modern benefits experience, increasing automation and efficiency for HR leaders, and saving valuable time as we enter the busy open enrollment season. PlanSource launches major software releases four times a year and conducts ongoing updates and enhancements throughout the year.
In May 2020, Harsh Chugh, a strategic financial leader, has joined the company as Chief Financial Officer. Harsh joins PlanSource with over 20 years of experience in finance, operations and management consulting. He has worked across several industries including technology, telecommunications and financial services. Also, PlanSource Welcomeed Srini Venkatramani as Chief Product and Technology Officer at the end of 2019.
In 2018, the company experienced a 25% increase in annual recurring revenue, and more than 750 new employers started using PlanSource to manage their benefits programs. PlanSource also cemented several partnerships in 2018 with insurance carriers, brokers and technology providers that expand its benefits offerings and provide access to new markets.
With the Vista acquisition, PlanSource intends to accelerate its product roadmap and build on its innovative partnership programs. Key areas of investment include real-time integrations with insurance carriers, insightful analytics for all stakeholders, and intuitive tools for self-service, personalization, and communications that simplify the benefits experience for employees and HR teams.
PlanSource Risks and Challenges
PlanSource's sales are concentrated in United States and expanding into other markets will be a challenge.
PlanSource Ecosystem, Partners, Resellers and SI
PlanSource integrates with some of the leading HCM providers. Some of them are Ultimate Software, Oracle NetSuite, BambooHR, Kronos, Paycor and others.
PlanSource Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- PlanSource Public Cloud and Infrastructure (IaaS)
- PlanSource Platform (PaaS)
- PlanSource Application Delivery
- PlanSource 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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