THE BOTTOM LINE

Managing benefits throughout the lifecycle (benefits lifecycle management) goes beyond basic benefits administration to support automated information gathering, analysis, bidding, contract negotiation, and vendor management. The HighRoads benefits lifecycle management solution delivers a positive ROI by reducing the time and cost needed to manage employee benefits while improving the ability to manage vendor performance and price. Companies can achieve a positive ROI by reducing the total costs of benefits contracts, increasing benefits staff productivity, managing consulting and contracting costs, reducing the cost of developing summary plan descriptions (SPDs), and improving vendor management.