BOSTON (April 3, 2006) - HighRoads, the power behind the world´s most
effectively managed employee health and welfare plans, today launches
version 2006 of its flagship Benefits Lifecycle Management (BLM) solution.
Now, HR and finance executives have more powerful and intuitive tools than
ever to manage the complex and resource-intensive processes of sourcing,
managing and evaluating large-scale employee health and welfare plans.
As pressure mounts from CFOs and shareholders to control this leading cost
concern, HighRoads´ BLM solutions create a holistic, streamlined approach to
employee benefits management - supplanting previously expensive, fragmented
and paper-based processes. Leveraging the power of internal information and
external market forces, HighRoads solutions help many of the world´s largest
corporations dramatically lower costs without sacrificing quality.
"Employee benefits is a leading expense for most companies and yet also one
of the most loosely managed," said Paul Daoust, chairman and CEO of
HighRoads. "Our Benefits Lifecycle Management solution replaces today´s
inefficient model, uncovering opportunities for streamlined management and
cost reductions while helping companies offer the quality benefit packages
essential to a thriving workforce."
HighRoads´ BLM version 2006, available today, features enhanced abilities to
manage critical information in a highly intuitive and easy-to-interpret
fashion. These include:
- Advanced Summary Plan Description (SPD) management features speed time to
communicate with employees, increasing accuracy while supporting legal and
regulation compliance.
- Vendor performance management dashboard lets users instantly gauge
supplier performance against established metrics within any timeframe, and
automatically calculates contractually agreed upon penalties due to
insufficient performance.
- Streamlined audit trails ensure transparent processes and transactions,
in compliance with key regulations.
- Simplified and enhanced search capabilities support fully informed
decision-making with the click of a mouse, taking into consideration a wide
range of factors and precedents.
HighRoads´ Benefits Lifecycle Management approach represents the evolution
from traditionally paper-based and departmentalized HR processes and
transactions to a more comprehensive and information-driven approach. The
technology-based workflow begins by bringing the request-for-proposal (RFP)
online to create a transparent and competitive bidding environment, proven
to deliver immediate reductions in contract costs. Plan information is
collected electronically, supporting apples-to-apples evaluations and
establishing the foundation for ongoing management, tracking and
communication. This collaborative platform supports informed decision-making
across multiple plans and processes, and enables employers to provide the
highest quality of employee health and welfare benefits at substantially
lower costs.
HighRoads´ BLM solution is leveraged by more than 100 companies to manage
employee benefits. The HighRoads vendor network includes over 500 benefits
carriers, vendors, brokers, and consultants. HighRoads´ technology is
available as a fully hosted solution and is supported by a comprehensive
suite of business process outsourcing (BPO) services. It is also leveraged
for back-end administration among leading HR consulting firms and insurance
brokers worldwide. Pricing is based on a company´s preferred delivery model
and the number of plans under management.
About HighRoads
HighRoads, Inc. (www.HighRoads.com) is the leading provider of Benefits
Lifecycle Management. Its technology-based solutions and services provide
visibility and enable collaboration throughout the design, procurement,
management and communication of employee benefits plans. HighRoads´
comprehensive solutions for managing the benefits supply chain saves large
employers millions of dollars in benefits costs without sacrificing quality.
Clients include some of the world´s largest companies, such as Toyota and
Staples. Founded in 1999, HighRoads is a privately-held company that is
headquartered in Woburn, Mass.