HR technology leader on pace for 30 percent annual revenue growth
fueled by new clients, strategic hires, and market expansion
WEST DES MOINES, IOWA (July 26, 2017) – Businessolver, a leader in SaaS-based benefits administration technology, completed a successful first half of 2017. Driven by its year-over-year revenue growth of over 30 percent and a commitment to profitability, Businessolver continued to deliver delight to its expanding portfolio of clients through continued company evolution, product innovation and community involvement.
“So far, 2017 has been an incredible year of development,” said Businessolver President and CEO Jon Shanahan. “Looking ahead, we plan to continue the great momentum we’ve established by partnering with our clients to navigate the increasingly complex marketplace, and provide an engaging benefits experience that meets the diverse and dynamic needs of their organizations.”
Broader service model drives diverse client wins
During the past six months, Businessolver further expanded its already diverse client base, welcoming new customers from government, healthcare, hospitality, and manufacturing onto its benefits technology platform – including household consumer brands, established Fortune 500 companies, and businesses listed among the nation’s Best Companies to Work For.
Key executive hires and office expansions support surging growth
In addition to maintaining profitability, Businessolver has grown its employee base and deepened its geographic footprint to better serve clients. The Businessolver team now is more than 700 employees strong, including recently hired Chief Technology Officer Sean McMurray and Vice President of Marketing Cynthia Phillips.
McMurray, responsible for establishing and driving Businessolver’s technical vision, has deep roots at Businessolver; he helped CEO Jon Shanahan found the company in 1998, was one of the original builders and designers of the Benefitsolver platform, and served on the Board until rejoining the company in 2017. Throughout his 20-year technology career, McMurray has held executive-level roles at several firms in technology and financial services – including founding DataVision Resources and serving as its CEO until it was acquired by Equifax in 2011, and Chief Technology Officer at SmartyPig, LLC.
Phillips brings more than 25 years of corporate marketing and branding experience to Businessolver, where she’s responsible for leveraging branding, marketing and corporate communications to drive brand value and sales. She has broad experience in SaaS and software across multiple industries, and previously has held high-level marketing roles at Philips Electronics, Computer Associates, Ping Identity, Conga, and SyncHR.
To support internal growth and tap into key talent areas, Businessolver in June opened its new Chicago office. This location allows Businessolver to more easily reach top talent from local universities, including DePaul University, which is ranked No. 2 in the nation for HR degrees. The new Midwest hubs anchor Businessolver’s presence across the nation – with established offices in Seattle, Denver, and Charlotte, in addition to the company’s headquarters in West Des Moines, Iowa.
“With nationwide unemployment at its lowest point in almost 20 years, it’s no secret that companies have to broaden their horizons to find the best people,” Shanahan said. “We’ve always prioritized talent and expertise over geography; our hiring – and our office locations – will continue to reflect that.”
Company and employee distinctions showcase commitment to quality on all levels
Over the first half of the year, Businessolver has been recognized for its continued focus on industry-leading initiatives that improve client and employee experience:
- In February, Businessolver Product Lead Angel Hower was named as the Iowa representative to the IRS Tax Payer Advocacy Panel (TAP). TAP is comprised of committed U.S. volunteers selected to represent their home state and act as a two-way channel between the IRS and American public. Hower will serve a three-year appointment to improve IRS product, process, and/or procedures.
- In March, Businessolver was named a 2016 Gold-Level Fit-Friendly Worksite by the American Heart Association, which distinguishes companies helping employees eat better and move more.
- Also in March, Businessolver’s commitment to quality was recognized at the annual Governor’s Celebration of Performance Excellence, where it was honored with Tier 3 Leadership Level distinction for its progress in meeting Baldrige Excellence Framework standards.
- In May, Businessolver’s Vice President of IT Systems, Tom Pohl – along with a local information-security group – had an overwhelming win in the Capture the Flag hacking contest at 2017 THOTCON, an annual Chicago-based conference focused on information security. Pohl regularly competes in hacking competitions for hands-on practice maintaining and building skills needed to oversee Businessolver’s IT systems.
Product innovations enhance user experience
In March, Businessolver launched its MyChoice Mobile App, a complementary tool to the Benefitsolver platform, that lets members take their benefits anywhere they go, giving them access to critical plan information when and where they need it.
“Businessolver strives to expand the benefits experience from once-a-year enrollment to a year-round engagement,” said Shanahan. “The MyChoice Mobile App is a pivotal step forward because it allows members to seamlessly integrate benefits into their everyday lives.”
The company also introduced a number of enhancements to the Benefitsolver platform. These include an easier-to-use interface for Case Manager; a new look and feel to the Document Center and Reference Center; and an updated user experience across the platform focused on empathic design. These changes make enrollment an effortless experience and allow employees to track their progress when selecting benefits.
Thought leadership and community involvement honor mission and values
Last month, Businessolver completed its annual Vision 20/17 Tour, a series of regional forums for HR/benefits professionals to exchange ideas, share best practices, and address industry challenges. This year’s tour – hosted in San Francisco, Philadelphia, and Chicago – featured an exclusive half-day training program from generational expert, Cam Marston, which focused on how to engage the multi-generational workforce to strengthen teams and drive results.
At the Philadelphia stop on the tour in May, Businessolver released the findings of its second-annual Workplace Empathy Monitor. The industry-first study of nearly 2,000 U.S. employees, HR professionals, and CEOs found empathy is still lacking in workplaces, with 85 percent of respondents saying they believe empathy is undervalued by U.S. businesses, a 5 percent increase from the 2016 data. The study also examined how empathy can drive business’ bottom line by helping to recruit and retain top talent, and engage employees to drive productivity.
Finally, Businessolver continued its dedication to philanthropy by partnering the Businessolver Foundation with local organizations, including Junior Achievement of Central Iowa, Denver Rescue Mission, the Alzheimer’s Association, Ronald McDonald House of Charities, and Denver Storybook Ball. Notably in April, Businessolver was the marquee presenting sponsor for the fifth annual Couture for a Cause, a fashion show fundraiser benefiting Children’s Cancer Connection.
Children’s Cancer Connection is a Des Moines-based organization whose mission is to enhance the quality of life for Iowa families affected by childhood cancer, by providing programs for education, recreation, and support.
The show’s models all were children and their families facing childhood cancer, as well as the nurses who support them; the event raised nearly $70,000 to help Children’s Cancer Connection provide its life-enhancing services and support to young patients and their families.
“I’m proud of our incredible growth and achievement during the first half of the year,” Shanahan said. “We’ll continue to succeed in 2017 by remaining committed to our values, and staying focused on our simple, but clear mission to grow our business and delight our clients.”
Since 1998, Businessolver has delivered market-changing benefits administration technology supported by an intrinsic responsiveness to client needs. It creates client programs that maximize benefit 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 benefit 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.
Kristin Schmotzer, Edelman (on behalf of Businessolver)