Charleston, S.C. – May 4, 2015 – Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits software solutions, today announced the signing of a reseller agreement with SAP (NYSE: SAP). SAP will resell BENEFITFOCUS® Marketplace as the SAP® U.S. Benefits Management application by Benefitfocus. Through this agreement, SAP will offer customers in the U.S. a powerful, end-to-end human capital management solution that improves benefits administration efficiency and platform user experience throughout the employee lifecycle.
“Benefitfocus is dedicated to creating innovative, extensible software solutions that are redefining the way people enroll in and manage benefits plans,” said Benefitfocus CEO Shawn Jenkins. “We have an incredible community of customers, and we’re excited to deliver Benefitfocus Marketplace to even more customers with a partner who is leading the market in enterprise application software – SAP.”
SAP U.S. Benefits Management by Benefitfocus – scheduled to be available soon from SAP – is a cloud application that will complement SAP’s market-leading core human resources and talent management solutions and help its customers with U.S. employee benefits enrollment and management.
"Our goal at SAP and SuccessFactors is to provide our customers with the most comprehensive HCM suite in the market,” said Mike Ettling, president, HR Line of Business, SAP. “This agreement with Benefitfocus boosts our relationship and will allow us to provide our customers with a smooth journey to the cloud. It is about bringing market-leading benefits and capabilities to SuccessFactors Employee Central customers seamlessly, via quick and low-risk implementations. We expect the rich capabilities of SAP U.S. Benefits Management will enable SAP customers to streamline online enrollment, employee communication and benefits administration year round for their employees based in the U.S.”
The collaborative solution builds upon cooperation initiated in 2011 between Benefitfocus and SuccessFactors, an SAP company. SuccessFactors® Employee Central integrates with BENEFITFOCUS® Marketplace to allow employers and HR managers to access business intelligence and employment information through the same portal they use to manage all of their benefits and employee communication.
Benefitfocus, Inc. (NASDAQ: BNFT) is a leading provider of cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. Benefitfocus has served more than 25 million consumers on its platform that consists of an integrated portfolio of products and services enabling clients to more efficiently shop, enroll, manage and exchange benefits information. With a user-friendly interface and consumer-centric design, the Benefitfocus Platform provides one place for consumers to access all their benefits. Benefitfocus solutions support the administration of all types of benefits including core medical, dental and other voluntary benefits plans as well as wellness programs. For more information, visit https://www.benefitfocus.com.
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Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; reliance on strategic relationships, including with SAP; changes in government regulations; the immature and volatile nature of the market for our products and services and other factors that could impact our anticipated growth; management of growth; fluctuations in our financial results; general economic risks; reliance on key personnel; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; privacy, security and other risks associated with our business; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec.cfm or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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