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isolved - Next-Generation Benefits Administration
Vendor Analysis
published on Jan 26, 2024
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Report Overview:
This NelsonHall vendor assessment analyzes isolved's offerings and capabilities in next generation benefits administration, covering health & welfare and pension administration.
Who is this Report for:
NelsonHall’s Benefits Administration profile on isolved’s is a comprehensive assessment of isolved offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Benefits Administration Services and identifying vendor suitability for security services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the Benefits Administration Services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of isolved’s Benefits Administration Services offerings and capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery centers.
Key Findings & Highlights:
isolved, founded in 2012 and headquartered in Charlotte, NC, is a provider of human capital management and workforce management (WFM) technology and associated managed services, targeting small-to-medium-sized businesses (SMB) and mid-market organizations.
The company was originally formed in 1986, offering benefits services under the Infinisource brand. In 2012, the first version of isolved’s HCM platform, initially focused on payroll and time clock solutions, came to market. The platform has continuously grown in technological advancement and scope, and in 2020, isolved rebranded its HCM technology as the isolved People Cloud platform.
Since its launch, isolved has leveraged a mix of organic development and select acquisitions to boost its capability and accelerate its platform adoption, including:
- Network, ASO partners (2023): Common Sense Payroll, Payarc, Strategic Payroll Solutions, Autopaychecks HCM, Payroll Specialties, Idea Payroll and True Payroll Integration (all previous resellers of isolved People Cloud)
- Network, ASO partners (2022): PCS Human Capital, AAP, ePay, NCR Payroll & HR Solutions, Complete Payroll Solutions
- Network partners (2021): Payday, Ace, PayPro, Balance Point
- TrenData HR (2021): AI-based predictive analytics and NLP-based conversational virtual assistant (VA); now isolved Predictive People Analytics
- Givful (2021): Wellness and well-being solution focused on employee giving and volunteering; now isolved Giving & Volunteering
- Network partners (2020): Precision Payroll of America, Proxus Human Capital Management, Performance HCM, TPC The Payroll Company, IES Integrated Employer Solutions, Big Fish Employer Services.
The isolved People Cloud platform currently supports ~6m worksite employees and ~168k U.S.-based small and medium-sized employers, with the ability to scale for larger, enterprise-level customers (10k employees). isolved manages benefits administration for ~128k clients and ~5.6m participants.
isolved has ~2.3k U.S.-based employees, of which 100% are dedicated to the delivery of its health & welfare services. It owns 100% of its IP with a single source technology stack and manages its benefits administration services entirely in-house leveraging a rapid time-to-value model, ranging from 30 to ~120 days, depending on client services adopted and level of complexity.
isolved targets its People Cloud HCM technology to North American-based, small-to-medium-sized businesses (SMB) and mid-market organizations ranging up to 10k employees, focusing primarily on the 50 to 500-employee range. While its client base mainly comprises firms with less than 500 employees (84%), its fastest-growing segment is the 500 to 2.5k middle-market buyer (~16%).
This profile focuses specifically on isolved’s Benefits Administration services.