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Top 5 Suppliers in the HR Benefits and Administration Services Market, According to Technavio
[October 20, 2016]

Top 5 Suppliers in the HR Benefits and Administration Services Market, According to Technavio


Technavio has announced the top five leading suppliers in the global HR benefits and administration services market until 2020. These suppliers are selected based on various standards, some of which include price and service portfolio, experience and certification, technical abilities, and geographical presence.

Competitive market landscape

The global HR benefits and administration services market is witnessing stiff competition due to the emergence of advanced technologies and software packages. Buyers are looking to increase employee engagement, adhere to regulations, and reduce costs through customized solutions. Buyers also prefer suppliers that offer one-stop solutions to run all HR functions. This reduces the complexity in procuring services from multiple vendors and increases cost savings.

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According to Angad Singh, a procurement intelligence analyst specializing in research on category spend intelligence, "Buyers are looking for a global vendor that offers services to clients across geographical locations through a segmented implementation strategy and nationalized service teams for different countries to ensure consistency in service offerings."

Top five suppliers of HR benefits and administration services

ADP

ADP is a leading business outsourcing services company which offers analytics and compliance expertise and provides cloud-based human capital management solutions to its clients. These soutions combine services such as HR, payroll, talent, tax and benefits administration.



The company serves more than 610,000 clients across the globe and provides services directly in regions where its clients operate.

Aon Hewitt


Aon Hewitt is one of the leading HR business process outsourcing providers which offers benefits administration and a comprehensive suite of outsourcing solutions to more than 20,000 clients across the globe.

The company has operations across industries such as technology, financial services, agribusiness, aviation, construction, healthcare, and energy. It offers a strong exchange portfolio for employers which includes Aon Retiree Health Exchange, Aon Active Health Exchange, and Health Coverage Resources.

ACS (News - Alert)

ACS is a leading HR benefits administration service provider specializing in employee health plans. It is a subsidiary of the Xerox company. The company serves a wide range of industries including aerospace and defense, automotive services, banking, energy, oil and gas, healthcare, pharmaceutical, insurance, transportation, and various government sectors

Towers Watson

Towers Watson is a leading global professional services company that was formed by the merger of Towers Perrin and Watson Wyatt. Its major business functions are risk management and HR consulting. In 2016, the company merged with Wills Group and was renamed Wills Towers Watson.

The company serves a wide range of industries such as insurance, consulting, data services, advisory, media, and professional services.

Mercer

Mercer is a wholly-owned subsidiary of MARSH & McLENNAN. The company provides services in federal, state, and local governments, healthcare providers, transit authorities, and utilities and private-sector clients.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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