openPR Logo
Press release

Benefit Management Platform Market Emerging Trends and Will Generate New Growth Opportunities Status

09-22-2022 07:23 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

According to our latest market study on "Benefit Management Platform Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Deployment and Application," the market was valued at US$ 1,663.06 million in 2021 and is projected to reach US$ 2,466.12 million by 2028; it is expected to grow at a CAGR of 10.3% from 2021 to 2028. Several Government Initiative to Provide Growth Opportunities for Benefit Management Platform Market During 2021-2028

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis - https://www.theinsightpartners.com/sample/TIPRE00025572/

Benefit Management Platform Market Company Profiles
Benefitfocus.Com, Inc
BSwift LLC
Empyrean
Employee Navigator
Ease
ADP, Inc.
Paycom
Paycor, Inc
Workday, Inc.
Businessolver.Com, Inc

Several government initiatives across the US and Canada have been implemented to uptake benefit management platforms by employers. Some of the initiatives are the Consolidated Omnibus Budget Reconciliation Act (COBRA), Affordable Care Act (ACA), and Health Insurance Portability and Accountability Act (HIPAA). Employers use these platforms to provide benefits to their employees, such as hospital care, prescription drug coverage, pregnancy and childbirth, and health benefits. All these benefits enhance the confidence of employees. These initiatives are expected to boost the requirement of benefit management platforms across different industries in the US and Canada. Further, the increasing health treatment cost is creating huge opportunities for the market players to design efficient benefit management platforms across both economies.

Benefit management platforms are designed to recognize an employee's behavior and help the employer offer various benefits for efficient business operations. Such solutions are worthwhile to enhance staff morale and reward their employment in the organization. These platforms are frequently used in practically all sizes of businesses due to their technological innovations.

Have a 15-minute-long discussion with the lead analyst and author of the report in a time slot decided by you. You will be briefed about the contents of the report and queries regarding the scope of the document will be addressed as well - https://www.theinsightpartners.com/speak-to-analyst/TIPRE00025572

Employee benefits incorporate medical insurance, individual retirement accounts (IRAs), pension plans, vacation time, maternity leave, and sick leave. Several players operating in the global benefit management platform market are offering software solutions, which help assist benefits administrators. A good benefits administration program generates and maintains an enrolment profile for every employee, keeping track of information such as the date hired, the number of dependents, marital status, total hours worked, and attendance records. The program delivers flexibility and part-time and temporary hires, considering special employee needs and changes in government regulations. The benefits administration program can function in tandem with tax preparation software, ensuring that all allowable deductions are taken care of and maintaining detailed records for reference in case of an audit, thereby augmenting the benefit management platform market growth.

Market Insights
Greater Demands for Convenience Supported by Technology

The constant increase in organizations' spending toward offering an efficient benefit technology to provide enhanced convenience in terms of enrolment and support is aiding the demand for benefit management platforms. The trend of adopting benefit management platforms for tech-enabled convenience provided by employers in all aspects, such as on-demand services, focus on UI/UX design, and one-day shipping, is on the rise. The usability of these consumer services is a far cry from the capabilities of the legacy human capital management (HCM) systems, which were not built to handle the complex range of offerings of the new benefits ecosystem.

Benefit Management Platform Market Segmentation:
By Deployment
On-Premise
Cloud-Based

By Application
SME
Large Enterprise

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods - https://www.theinsightpartners.com/buy/TIPRE00025572/?utm_source=OpenPR&utm_medium=10593

Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Benefit Management Platform Market Emerging Trends and Will Generate New Growth Opportunities Status here

News-ID: 2744812 • Views: 110

More Releases from The Insight Partners

Artificial Conversational Entity Market Incredible Possibilities, Growth with In …
According to our latest market study on" "Artificial Conversational Entity Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Software, Service); Enterprise Size (Small and Medium Enterprise, Large Enterprise); Application (Website, Mobile Platform, Social Media, Others); Industry Verticals (Retail, BFSI, Healthcare, Media and Entertainment, Others) and Geography The Artificial Conversational Entity (ACE) is a technology that can lead a conversation with people through textual methods. One of
Healthcare Facilities Management Market - High Demand to Drive Market Growth| Tr …
The Healthcare Facilities Management market research report provides an in depth examination of the key factors stimulating market expansion. It also sheds light on the challenges or restraining factors that are poised to hinder industry growth over the forecast timeframe. Growth rate, market share captured, and valuation estimates for each region, segment, and company are documented as well. Healthcare facilities management is important for medical facilities. It enhances the patient experience
Virtual Care Market Evolution 2022: Overview, Opportunities, Size, in-Depth Anal …
The Virtual Care market research report provides an in depth examination of the key factors stimulating market expansion. It also sheds light on the challenges or restraining factors that are poised to hinder industry growth over the forecast timeframe. Growth rate, market share captured, and valuation estimates for each region, segment, and company are documented as well. Virtual care is described as a communication technology-based virtual interaction or visit between a
Mainframe Modernization Services Market Analysis by Recent Trends, Growth Projec …
Mainframe Modernization Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Services (Application Modernization, Cloud Migration, Data Modernization); End-Use Industry (IT and Telecom, BFSI, Retail, Healthcare, Government, Media and Entertainment, Manufacturing, Education, Others); Enterprise Size (SMEs, Large Enterprises) and Geography Mainframe modernization is a one-of-a-kind service that allows you to transition your mainframe workloads from on-premises to an AWS managed runtime environment. Replatforming and automatic refactoring are

All 5 Releases


More Releases for Benefit

Guyson’s Customers Benefit from Showroom Update
Leading industrial finishing equipment manufacturer Guyson International has recently updated the showroom facilities at its manufacturing site in Skipton, North Yorkshire to better reflect the extensive range of manual blast cabinets it sells and to now showcase its Additive Manufacturing component finishing expertise with the stand backdrop used at the last TCT show also on display. Customers visiting the company’s vast showroom can be walked through the range of standard Formula
Does Paralympic sport benefit the right athletes?
Paralympic sport has come a long way from its humble beginnings at the Stoke Mandeville spinal cord injury unit in England just after the Second World War. This small sporting event, which at the time used competition between those with similar injuries to assist the rehabilitation of wheelchair users, is now a worldwide phenomenon. The movement now boasts a 4 yearly event working in conjunction, and very much
Security Benefit Partners With fi360
New Relationship To Provide Powerful Tools For Independent 401(k) Advisors Topeka, Kansas, April 23, 2012 - Security Benefit Corporation, a leading provider of retirement savings and income vehicles throughout the nation, today announced it has formed a partnership with fi360, the premier organization for fiduciary education, investment analytics, support services, and industry insights for financial professionals. With the relationship, advisors and plan sponsors will have no-cost access to fi360’s highly regarded fi360
ProcessPro Staff Promotions Benefit Clients
St. Cloud, Minn., July 22, 2011 -- ProcessPro, developers of ProcessPro® Premier ERP software, is excited to announce the promotion of two outstanding employees. As part of ProcessPro’s initiative to exceed client satisfaction expectations, these changes will be beneficial to current and future clients. Rick A. Lenarz will be moving from Client Account Manager to Implementation Analyst. Rick’s career growth at ProcessPro and experiences prior to coming to ProcessPro
Absolute Benefit in Security Films
Atlanta, Georgia – October 1, 2010 - Product demonstration proves that Security Film, also known as Safety Film can deter smash and grabs, vandalism, and graffiti while providing safety from flying and falling glass in the event of an accident or sever weather. • Increased Safety- Safety and security films provide a clear barrier of protection that helps to hold glass in place when it shatters due to breakage from an accident,
Pasadena Children’s Charity’s Benefit Takes Gold at Annual Benefit
(PASADENA, CA)— Hillsides, a foster care children’s charity, takes gold at its annual gala, netting $375,000 for programs and services to benefit vulnerable children and their families. With an All-Star Honorary Committee bringing golden accolades to “The Midas Touch,” the children’s charity’s anticipated annual benefit reached the gold standard, again. Honorary committee included Chairman and Emcee Fritz Coleman of NBC, Elizabeth Rusnak Arizmendi, Peter Arkley, Frank and Penny Burkard, Rosemary Casey