PlanSource, a leading provider of cloud-based benefits administration technology, announced the launch of its Spring 2024 Product Release. According to certain reports, the stated product release brings to the fore a new Retroactive Payroll Feature, updates to the company’s mobile engagement platform, The Source, new carrier integrations, and much more. Talk about the whole value proposition on a slightly deeper level, we begin from the prospect of Retroactive Payroll, where the solution effectively eliminates the manual effort that HR teams go through during each payroll cycle to identify, calculate, validate and apply missed employee premium payroll deductions. The stated feature also enables payroll vendors to access flexible configuration, a dynamic dashboard, and EDI, all for the purpose of simplifying the process. Next up, we have two new carrier integrations that are both designed to reduce industry friction for customers. The first of these integrations is Enrollment API, where we can now replace traditional batch EDI files (processed weekly) with real-time enrollment API. The idea behind doing so is to scale up efficiencies rather significantly. The other integration happens to be an Evidence of Insurability (EOI) Decision Notification API. This particular API will let customers enjoy seamless shopping by answering EOI questions within the benefits shopping experience. This will arrive on the scene alongside an underwriting decision on the fly so to save HR teams 15 to 30 minutes per employee.
“Our investment in the customer experience started in the January 2024 release, where PlanSource unveiled a pioneering AI assistant named Olive, designed to revolutionize communications for HR teams. Olive, empowered by ChatGPT4, offers bespoke messaging solutions within the PlanSource ecosystem, adeptly tuning the formality, tone, length, and language of messages. Throughout 2024, PlanSource will continue to enhance the client experience through new Generative AI capabilities, interactive insights, analytics and customizable communication for increased employee engagement,” said Srini Venkatramani, Chief Product & Technology Officer at PlanSource.
Beyond carrier integrations, we have updates introduced across PlanSource’s employee engagement platform, The Source. The stated updates hand HR administrators greater control over the content and look and feel. Furthermore, these administrators can expect role-based access to make configuration changes, including the ability to customize tile images and text to better reflect your brand and culture. Markedly enough, PlanSource also took this opportunity to bring in two new marketplace partners i.e. TaskHuman and Trend Micro. As for what makes these partners qualified in regards to such an aspect, TaskHuman’s case is made by its ability to help users amplify their daily work and personal life with 1:1 personalized guidance from LIVE coaches. To build upon that, the company also connects you with the world’s most comprehensive global network covering over 1,000 aspects of well-being, including physical fitness, mental, spiritual, emotional, financial, career & leadership coaching, and more. Turning our attention towards Trend Micro, it has its utility rooted in protecting some of the world’s largest companies, something it does through AI-powered consumer solutions for identity protection and device security. Lastly, the update delivers at your disposal a significantly easier mechanism for renewal. Using a short, guided interview to fulfill on its promise, the new renewal mechanism gives customers complete control over the payroll aspects of annual enrollment, thanks to a new payroll schedule module. On top of that, HR leaders can also, at their discretion view, edit, add, and remove both Payroll Schedules and individual Payroll Schedule dates.
“The enhancements focused on payroll connections and streamlined data sharing will provide valuable data accuracy and efficiency for busy HR and Benefit leaders. Two areas of critical importance in this highly competitive market category,” said Stacey Harris, chief research officer and managing partner for Sapient Insights Group.
