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| Benefitfocus.com Wins 2005 Innovator of the Year Award |
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Charleston, SC – August 18, 2005 – The Charleston Digital Corridor and the Charleston Regional Business Journal have recognized Benefitfocus.com as Innovator of the Year for 2005. The award honors individuals and organizations that have demonstrated the spirit of innovation by creating new products, services, programs or processes that have had a positive effect on their business, industry or community. Benefitfocus was selected from a field of over 60 nominees.
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The fastest growing technology company in South Carolina, Benefitfocus makes Internet-based software that replaces the traditional paper forms employers use to administer their worker-benefit plans, such as health coverage. Clients include over 14 Blue Cross Blue Shield plans covering over 89,000 employer groups and 12.5 million members in all 50 states and countries as far away as Japan, Mexico, Chile and Poland.
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Formed five years ago with just 18 employees, Benefitfocus will be moving its headquarters to a new $16 million, 143,000-square-foot headquarters on Daniel Island next year. Additionally, it plans to double its payroll from 185 to nearly 400 employees by 2008. Several regional colleges and universities will be asked to partner with the company to provide more high tech jobs to South Carolina graduates.
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The Innovators 2005 award was presented by a panel of judges from the Charleston Digital Corridor, the Charleston Regional Business Journal, Alternative Staffing, the Tate Center for Entrepreneurship at the College of Charleston and Needle & Rosenberg law firm. Judges independently evaluated each nominee in four categories, including originality, power, challenge and value. The 10 innovations receiving the highest score were selected as Innovators 2005. Benefitfocus.com received the highest score as Innovator of the Year.
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About Benefitfocus
Benefitfocus.com, Inc. (Benefitfocus) is a leading provider of benefits administration software and services, offering employees and employers access to all benefits and human resource information securely over the Internet. Linking this data to payroll vendors and benefit providers, Benefitfocus applications seamlessly exchange data, therefore reducing errors and costs associated with traditional paper-based forms. Benefitfocus applications are designed to make companies more efficient, cost-effective, and more focused on delivering actual benefits instead of spending time on undue paperwork.
The company is headquartered in Mount Pleasant, SC (Charleston), and has an established client base of over 8,000 corporate employers in all fifty states.
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