1. Unified Database. BENEFITSCAPE HCM Optimization embeds specialist benefits functionality and data flows directly into the employer’s HCM infrastructure. HCM Optimization is not a bolt-on solution but a friction-free deep integration, with all the advantages of a unified database.
Data consistency is enhanced, and manual data transfers eliminated. Platform continuity and integrity are also maintained as an organization’s HCM evolves to support future growth and/or change management.
2. Enhanced Data Security. By making extended use of a single, unified database, HCM Optimization for ben admin also enables improvements in an organization’s systems security, including reduced data latency.
3. Consistent & Enhanced User Experience. HCM Optimization and embedded functionality give employees a unified point of access for all their HR and benefit needs. BENEFITSCAPE also ensures a consistent and intuitive user interface. Navigation is simplified, logins reduced, and employee engagement enhanced.
For administrators, operations and user experience are similarly streamlined and enhanced, with an organization’s training needs also reduced.
4. Real-Time Data Processing & Enhanced Reporting. Advanced HCM systems are equipped with real-time data processing. Optimized for ben admin, real-time HCM data facilitates timely decision-making; agile benefits management; and accurate and efficient compliance reporting.
In short, BENEFITSCAPE HCM Optimization services provide a responsiveness and agility equivalent to legacy specialist ben admin solutions but also simplify reporting and analytics within a unified view of HR and benefits data.
5. Consolidated Compliance Management. BENEFITSCAPE HCM Optimization integrates and consolidates federal and state compliance data and reporting. For example, it makes available and processes in one system all the information needed for ACA reporting, including eligibility and offer affordability management.
This single data view simplifies the process for other IRS and DOL reporting too, such as PCORI or ERISA; and by doing so, it promotes data accuracy and consistency across all an employer’s different compliance submissions.
