Press Room
 |
 |
 |
Media Contact |
BeneTrac Announces Major Growth in 2006, Exceeding Projected Goals
Leading provider of benefits management software reports 40% increase in revenue, manages over two billion dollars in annualized health insurance premiums
San Diego, CA, February 16, 2007 – BeneTrac (http://www.benetrac.com), a leading provider of powerful, web-based electronic enrollment and employee benefits administration software, today announced tremendous growth in enrollments and revenue from 2005 to 2006. Annual premium dollars managed climbed to over 2 billion for 636,000 members, sharply up from the previous year, and revenue increased 40% overall. The company also reported 37.6 million electronic data enrollment transactions in 2006, up from 25.7 million in 2005, reflecting the growing popularity of its software among human resources professionals, benefits administrators and employees.
"It is a confirmation of what we are doing to see our technology embraced by the HR industry. We work very closely with benefits brokers and end-users to listen to what they are saying and continually improve our products to better meet their needs and streamline processes. Customer service is a top priority at BeneTrac," said Jerry Hawthorne, president and CEO. He anticipates revenues this year to grow by more than 35 percent and staff to grow over 15 percent.
BeneTrac's growth is further reflected in a 60% expansion of the company's office space last year and 15% increase in employee count.
The company's online human resources benefits data and enrollment services are used by numerous small and medium sized companies. Customers include Carson City School District, UBISOFT, San Francisco Health Plan, Harmonic Inc. and A&D Engineering.
Of BeneTrac users, 84 percent reported in a recent online survey that navigating BeneTrac was "easy."
The company was recognized for its online accomplishments recently with three eHealthcare Leadership Awards at a healthcare internet conference in Atlanta, Georgia. With more than 1,100 entrants, BeneTrac took the Gold in the Best eBusiness Site category for Business/Process Improvement Applications or Products; Silver in the Best Overall Internet Site category for Corporate Business Improvement Site; and Distinction in the Best overall Internet Site for Business/Process Improvement Applications or Products.
"We are committed to providing best-in-class benefits management software and employee self-service tools, proving to our current brokers, carriers and end users that they can trust our products," added Hawthorne. "It is our goal to continually stay on the cutting edge of Human Resources software and services to best meet the needs of our customers."
About BeneTrac
BeneTrac (also known as Hawthorne Benefit Technologies, Inc.) is a provider of powerful, web-based electronic enrollment and employee benefits administration software. The company's online benefit management solution, available exclusively through insurance brokers and benefits consultants, enables employers and human resources professionals to eliminate paperwork and automate management of their complete benefits packages through a single, customized portal. BeneTrac's one-stop-shop platform for automatically adding, updating, electronically exchanging, assessing and managing information capitalizes on relationships with more than 400 carriers. Leaders in software engineering, group insurance and human resources, the experts at BeneTrac are dedicated to offering a robust, affordable, user-friendly system that simplifies benefits administration. For more information, please visit www.benetrac.com
For sales inquires, please contact us.
© 2008 BeneTrac. All Rights Reserved.