Benefits Network Datasheet
Workday Benefits Network provides HR organizations a catalog of pre-built integrations that connect to benefits providers, giving HR organizations the ability to evaluate, select, and offer the most appropriate plans for their workforce. With the Workday Benefits Network, HR organizations avoid the costs and headaches of building and maintaining custom integrations to benefits providers.
Eliminate the Integration Hassle
A competitive benefits package is an increasingly important element of attracting, motivating, and retaining employees. Modifying benefits plans and providers is a natural part of the business cycle, but along with these modifications comes the burden of building and maintaining costly custom integrations to benefits providers. Workday Benefits Network eliminates this custom integration burden.
- Simple setup: Choose from a pre-populated list of benefits providers without having to deal with the providers’ technical specifications. Workday automatically populates relevant personnel information and presents the templates, maps, and required company-specific information to the Benefits Administrator.
- No maintenance required: When benefits providers change their specifications, Workday Benefits Network updates the integration with no additional IT investment required from the customer.
- Efficient for IT: Workday Benefits Network delivers the integrations, allowing IT resources to be redeployed on strategic activities instead of building and maintaining complex provider integrations.
Automatic Updates
Changes in the lives of employees is a given, but each change— whether a marriage, new child, or new address—requires updates to each benefits provider used by the employee.
- Schedulable updates: Workday Benefits Network greatly simplifies the information update process by allowing Benefits Administrators to schedule updates and/or make ad hoc updates as needed. Setting up the schedule is simple, and once set, updates run automatically.
- Secure data: The data transmitted to providers is always secure, from the time it is generated to the time it is transmitted in encrypted form or via secure FTP. There is no manual intervention in the process that compromises security.
- Built-in compliance: Workday Benefits Network supports all applicable standards and protocols, including the HIPAA 834 standard and all its variations to proprietary formats.
Full Range of Benefits Providers
By providing integrations to a broad spectrum of providers, Workday Benefits Network gives confidence to Benefits Administrators that all required provider integrations are addressed.
- Expanding network: Workday is constantly adding providers to the Benefits Network and covers the broad range of provider types an organization requires: health insurance, flex spending accounts, defined contribution plans, life insurance and AD&D, and COBRA administrators.
- Customer driven: Integrations to providers are driven by customer requirements. If an integration doesn't already exist, Workday will add it to the Benefits Network at which point it becomes available to all customers.
- Responsive team: Workday works closely with customers and prospects to understand the requirements for provider integrations. When changes to plans or providers occur, the Workday team incorporates the changes without disruption to customer operations.
Leverage Investment in Workday Human Capital Management
Built as a part of the Workday Human Capital Management solution, Workday Benefits Network uses the same core data as HCM—worker information, benefits data, benefits plans, and provider information—to streamline the process of administering benefits plans.
- Use data from HCM: Benefits information from open enrollment, new employee onboarding, terminations, or life events is automatically fed through the Workday Benefits Network.
- A consistent user experience: With Workday HCM and Workday Benefits Network, Benefits Administrators can now manage open enrollment, ongoing changes to benefits plans, and integrations to providers—all in one system and all with the same intuitive user interface.
- Shared foundation: Workday Benefits Network shares the same foundation as Workday Human Capital Management. Manage a single set of role-based security permissions, workflow, approvals, rules, and routings with HCM, thereby eliminating data redundancy and duplicate data entry.