PlanSource is a technology company driven to create a better benefits experience for employers, employees and their families. Founded in 2008, PlanSource has experienced explosive growth in recent years. In 2017 alone, the company saw substantial increases in annual recurring revenue, employees and added more than 750 new customer to its benefits administration and HCM software platform. This growth has been fueled by numerous product innovations, strategic acquisitions and partnerships with leading insurance carriers, brokers and HCM technology companies.
Highlights of the last year include:
• Revenue growth – 41% increase in annual recurring revenue with GAAP revenue increasing over 33%.
• Increased customer adoption – more than 750 employers joined the PlanSource platform in 2017, including notable employers such as Bassett Furniture, Boral Industries, Eastern Shore of Maryland Educational Consortium and Johns Hopkins HealthCare.
• Strategic acquisition – acquired Next Generation Enrollment, leading provider of benefits services.
• New partnerships – signed partnerships with several nationwide insurance carriers, including Cigna, Liberty Mutual and Mutual of Omaha; technology leaders Jellyvision, BambooHR, NetSuite/Oracle and Ultimate Software; and brokerages such as Cross Insurance, OneDigital Minneapolis and Stratovize.
• Product innovations – launched mobile-friendly employee enrollment experience, Advanced Payroll Deductions solution, self-service renewal tools and is
• Eclipse conference – sold out its third annual benefits and HR conference for insurance brokers, partners, HR professionals and industry experts.
• Industry-leading Net Promoter Score – earned a +74 Net Promoter Score, nearly tripling the software industry average.
In addition to growth in its business, PlanSource has also added nearly 200 new team members in the last two years. The company makes great strides to create a supportive and stimulating work environment. PlanSource has a long history of putting employees first, offering a variety of family-friendly benefits, and a particularly generous paid time-off program. The company prioritizes transparency and its leadership team is easily accessible, providing frequent updates and insight into how decisions are aligned with company vision and values. PlanSource also makes a point of supporting employee growth and provides opportunities for employees to cultivate their careers. For example, over 30 percent of open positions are filled with internal candidates. PlanSource’s multitude of benefits and policies have made it an attractive place to work; it enjoys a 97 percent employee retention rate. These efforts have not gone unnoticed; PlanSource was recently named a Top 100 Company in Florida by the Orlando Sentinel for the sixth consecutive year and selected by Inc. Magazine as a Best Workplace in America.