Why Outsource Vendor Administration
Are you looking for a way to more effectively manage your relationships with your insurance vendors?
The employment landscape is changing rapidly, driving many organizations to need to modify or replace key components of their employee benefits plan.
Communicating such changes to employees can seem simple compared with the work of managing plan changes with insurance vendors, if organizations must negotiate and implement those changes one vendor at a time. If the project seems too overwhelming, some organizations may even shy away from making the changes they need to make – such as offering employees their choice of voluntary benefits – and risk losing out on the talent they need to grow their business.
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Winston’s approach to vendor management can seamlessly automate even your most complex reconciliation tasks for your benefit program, replacing cumbersome paper-based processes with a streamlined approach using consolidated billing. This simplified approach makes it easier for employers to offer the wide variety of benefits options, including voluntary benefits, that workers increasingly report that they want.
Our WAVEPointe Solution can help reduce the financial and administrative burden of managing your vendor relationships by:
- Saving the IT team’s time by eliminating the programming and support of multiple vendor connections by replacing them with a single bi-directional file interface that never changes.
- Saving the HR team’s time by eliminating the need to manually enter or submit files to multiple carrier websites.
- Saving the Finance team’s time by making it easier to audit premium reconciliation.
to schedule a complimentary analysis of your benefits administration workflow.