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Conduent - Benefits Administration: Employee Wellness Reimagined
Vendor Analysis
published on Mar 04, 2025
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Report Overview:
This NelsonHall vendor assessment analyzes Conduent's offerings and capabilities in next generation benefits administration
Who is this Report for:
NelsonHall’s Benefits Administration profile on Conduent is a comprehensive assessment of Conduent’s 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 Conduent’s Benefits Administration Service 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:
Conduent is a business process services (BPS) provider formed in 2017 as a carve-out from the Xerox business. The Conduent Human Capital Management Solutions division offers the following range of HR services:
- HR Management and Global Payroll Administration
- Learning Services
- Health & Wellness Solutions
- Wealth & Retirement Solutions.
Before Conduent’s formation, Xerox acquired the following companies to grow its HR and benefits administration businesses:
- ExcellerateHRO in 2010: to strengthen its capabilities in HR consulting, benefits administration, HR BPS, and learning services
- ACS in 2010: to add HR outsourcing and consulting capabilities to Xerox. ACS developed its outsourcing capability from its acquisitions of Mellon Financial’s HR Solutions, giving it standalone benefits administration capability, and adding payroll, tax filing, and HR service capabilities.
In 2018, Conduent divested its benefits consulting business, formerly known as Buck Consultants, and its U.K. and Canada benefits outsourcing businesses because these were not core businesses. Since this divesture, it has established a new partnership with Aon to support its voluntary benefit solutions. Conduent now focuses on the North American benefits market.
In 2021, Conduent merged its HR divisions under one General Manager of HRO, Payroll and Learning, and Total Benefits Solutions (including Health & Wellness Solutions and Wealth & Retirement Solutions) and rebranded this division as Human Capital Solutions.
In 2024, Conduent completed the transfer of BenefitWallet’s HSA portfolio to HealthEquity. The transition included all BenefitWallet HSA accounts, including ~665k customer accounts and ~$2.7bn of HSA assets to HealthEquity at a purchase price of ~$425m. Clients and customers continued to benefit from the long-standing relationship between Conduent and HealthEquity as the latter provides HSA solutions, while Conduent provides benefit administration services. HealthEquity is Conduent’s go-to partner for consumer-directed accounts.
Conduent’s benefits administration business totals ~120 clients, including ~46 H&W clients (~2.3m participants).