Industry Leaders Discuss Benefits Industry Trends, Near Term Challenges and Possible Solutions

The group was unanimous in stating that compliance management and cost reduction will become even more important in the years ahead than ever before.

The SAC is a platform created by Secova to encourage industry leaders to debate and discuss HR and benefit challenges in a rapidly changing environment. This year, the discussions centered around the impact health care reform is likely to have on organizations. The group was unanimous in stating that compliance management and cost reduction will become even more important in the years ahead than ever before.

The SAC also noted that in an industry that is seeing more and more mid market companies outsource their benefits administration, it behoves vendors and platform providers to invest in technology that not only helps clients manage compliance and costs but also allows them to interact efficiently with new players and concepts such as exchanges and plan portability of individuals.

In his closing address, Venkat Tadanki, CEO of Secova Inc. thanked the members of the Advisory Council for their insight into the industry and shared the belief that the advent of cloud computing and the growing social media networks may indeed lead the way to a more cost effective benefits administration in the future.

Secova Secova is a leading Benefits Management Services company that delivers customized "Value-Sourced" solutions designed to enhance services and reduce operating costs. Secova's mission is to help its clients control and drive down the cost of delivering Human Resources & Employee Benefit Services. Secova's customized and flexible benefits administration solutions are designed to complement the client's overall benefit administration strategies, to help lower costs and improve service quality while enhancing timeliness, accuracy and responsiveness to the client's employees.

To view future Secova presentations or webinars, HR and benefits professionals can visit the Secova website at Secova Inc.