Buck Consultants to Support 800,000 Employees With Foundation Technologies' HR Knowledgebase Software.BOSTON--(BUSINESS WIRE)--Oct. 8, 1998-- Leading HR Outsourcer Turns to Foundation's Beneflex Technology for Stronger Customer Service Foundation Technologies Inc., the leader in knowledgebase software for human resource and employee benefits call centers, intranets, and self-service applications, announced today that Buck Consultants, a leading worldwide human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , has purchased Foundation Technologies' Beneflex(tm) for use in its outsourcing division. Buck Consultants provides support to a population of more than 800,000 employees in the areas of health and welfare benefits, defined contribution, defined benefit plan Defined benefit plan A pension plan obliging the sponsor to make specified dollar payments to qualifying employees at retirement. The pension obligations are effectively the debt obligation of the plan sponsor. Related: Defined contribution plan administration, human resources, record keeping and services. Beneflex is a Web-based, client/server Microsoft(R) Windows(R) and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. (R) Server application that is used in call centers and by corporate HR intranets to help answer employees' questions about company-specific benefits and HR policies. Buck first plans to use the enterprise software application to support its human resource call center operations for outsourcing customers. "Buck Consultants is one of the leading players in the HR outsourcing arena, serving global clients. Their decision to invest in the Beneflex knowledgebase technology to ensure quality customer service is a strong indication that they intend to lead the industry in service quality and accuracy of response," said Tod Loofbourrow, president and chief executive officer of Foundation Technologies. "As the administration of HR policies and benefits programs continue to become more complex, companies of all sizes are turning to experts like Buck for one-stop solutions. The unique Beneflex knowledgebase technology enables outsourcers to meet the needs of the marketplace by enhancing the ability to effectively communicate with multiple workforces through call centers and the Internet." Buck's outsourcing division responds to millions of calls every year, and call center representatives there are responsible for dealing with questions about more than just benefit plans. These calls range from simple benefit-related questions regarding co-payments in a particular HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , to more complex questions about human resource policies, and life event changes as a result of marriage, divorce, transfer or having a child. The addition of Beneflex to the call centers will provide consistent online plan and policy information and customized answers to a comprehensive set of employee inquiries. This will reduce the call centers' reliance on printed plan and policy information, which quickly becomes outdated, and shorten response time to questions. It will help Buck provide world class service quality to employees and managers. "To remain a leading outsourcer we have to consider every competitive advantage," said John McGlone, principal of Buck. "Leveraging technology advancements made possible by companies like Foundation Technologies benefits us, our clients and the more than 800,000 individuals that depend on our call centers for timely and accurate information. Foundation's leadership in both knowledgebase technology and in HR knowledge content made them a natural partner for us as we rapidly expand our business." McGlone said that while the initial deployment of the Beneflex system will be in a large portion of Buck's call centers, he hopes that by the middle of 1999 the company will be using the software to support all of its outsourcing clients. "The integration of Beneflex into our call centers permits us to offer our clients richer, total benefits outsourcing solutions," said McGlone. "Because many companies view HR administration as outside their core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Buck Consultants Inc. (www.buckconsultants.com) is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and has over 60 offices worldwide. The company employs more than 2,800 professionals and serves over 5,000 pension and other benefit plans in all 50 states and throughout the world. These plans cover some ten million active and retired employees and have assets of $400 billion. Buck Consultants is a subsidiary of Mellon Bank Corporation, which is a broad-based financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company with a bank at its core and which ranks among the nation's largest bank holding companies in market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . With $350 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and nearly $1.8 trillion of assets under administration, Mellon provides a full range of banking, investment and trust products and services to individuals and small, midsize and large businesses and institutions. Its mutual fund companies, The Dreyfus Corporation Dreyfus Corporation is a leading mutual fund financial firm founded in 1951. It is an industry leader having been the first to advertise to consumers, and create a high yield fund. Though it has its main office in New York City, it is a subsidiary of Pittsburgh based Mellon Financial. and Founders Asset Management, place Mellon as the leading bank manager of mutual funds. Headquartered in Pittsburgh, Mellon's principal subsidiary is Mellon Bank, N.A. Foundation Technologies Inc., headquartered in Waltham, Mass., is the market leader in human resource knowledgebase software for providing personal, accurate, responsive answers to employee questions. Inc. magazine named Foundation one of the fastest growing firms in the U.S. The firm serves the Global Fortune 2000, including Ford, Sears, Allied Signal and Travelers. With a network of global alliance partners, Foundation Technologies supports customers with operations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia. Foundation Technologies can be found on the Internet at www.foundationtech.com. Microsoft, Windows and Windows NT are either registered trademark or trademarks of Microsoft Corp. (Nasdaq:MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ) in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and/or other countries. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion