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Please teach me about Thomsons Online Benefits as below items;strategy, target ,their solutions, and what is their competitive point compared with competitor, their main customer, partner for sales
OVERVIEW
Thank you for your question about Thomsons Online Benefits (TOB). The short answer to your question is that TOB focuses on providing automated employment benefits software that makes it easy for employees to understand their benefits as it affects them in their country. It allows global firms design benefit solution that is engaging and personalized to each staff, regardless of where the staff resides. For companies, it makes their global benefit management easy and cost-effective. It also enables them to understand the cost of the benefit as well as monitor compliance and effectiveness. TOB majorly targets Enterprise Human Capitals solutions, consulting services, national and multinational companies, either as partners or clients. TOB is a SaaS provider, so the headache of software maintenance is on them. Their major competitive advantages are ease of use, intuitiveness, user-friendliness, visually compelling, tailored solutions for their clients, successful partnership with 6 of the top 10 brands in the world, 100% retention of enterprise clients, and cost effectiveness. Below you will find a deep dive into this answer.
METHODOLOGY
I researched the major publications relating to TOB. I studied their websites, third party publications, and users opinions. I also studied their major competitors to understand what they offer, the similarities and differences. In addition, I looked at their marketing strategy and case studies to understand their effectiveness and how much they deliver on their promise. I broke down the response into several headings based on what you are interested in.
DEEP DIVE
Strategy and Target:
Thomsons Online Benefit focuses on marketing its major software, Darwin, to the largest consulting service and Enterprise Human Capital service providers. Its strategy is to work with companies, majorly global firms, to deliver a benefits management work solution that incorporates the unique offering of the individual company in a way that is easy to understand and engaging to all the employees of the company. They ensure the company's benefit is engaging, regardless of the location of the employee. They operate in 80 countries and their solutions are available in 25 languages so they ensure the employee is able to understand easily, in their local language and as it pertains to them what they stand to gain by doing a good job for the company. They have developed 30 multi-country benefits implementation as of December 2016.
For the company, it makes their job easier and faster, and as a SaaS service, the company doesn't have to worry about servicing or maintaining the software and server. In fact, there is no software to download or a server to install. The company can see at a glance the cost of the benefits (local and global). The company is also able to measure the impact of each benefit and analyze the effectiveness of each, enabling them to optimize and save cost. For example, Microsoft, a TOB customer, praised Darwin's "flexibility and functionality" and its impact in significantly reducing the workload of their HR department.
Competitive Points and Solutions
TOB focuses on benefits management solution. Most of other benefit management solution companies often offer this service as part of their overall HR software management system. This specialization has enabled TOB offer tailored solutions to different multinationals as seen in their case studies, offering a unique solution based on the exact need of the company.
In addition, TOB has partnerships with the leading Enterprise Human Capital solution providers such as Xerox, Mercer, and NGA HR, resulting in a truly global approach that offers high flexibility, ease of cost analysis, the effectiveness of benefit analysis, and benefit risk management to its customers.
It has achieved a 100% enterprise customer retention (98% overall) and won over 100 awards. The fact it has some of the biggest brands in the world, such as Microsoft, Cisco, Virgin, Samsung, and Live Nation, on its platform has helped it established itself as the benefits management system of choice. It's designed to integrate with any tool or system you currently use, however, other HR platforms like Paycor also offer a benefits system that can be integrated with some systems.
Apart from its software, TOB offers advice on benefits scheme design and communication.
MAIN CUSTOMERS and PARTNERS
Their major partners are Enterprise Human Capital solution providers such as ADP, Xerox, BenefitFocus, Northgate Arinso, SAP Success factors, Birst, and Buck Consultants.
TOB has over 1 million users around the globe. Their major customers include 6 of the top 10 global brands in the world and 7 of the 10 biggest global tech brands. Some of the companies they service include Samsung, Microsoft, Virgin, Cisco, Barbon, NCR Corporation, UK's Ministry of Defense, NCR Corporation, City and Guilds, Live Nation Entertainment, Bibby, Bauer Media, HID Global, Engine Group, and DAC Beachcroft.
FUTURE STRATEGY
They are committed to partnering with other leading Enterprise solution providers and targeting multinationals. According to Micheal Whitfield, CEO of TOB, their partnership strategy has led to financial success, while "also laying the groundwork for sustainable growth” as more global companies inevitably take advantage of the ease and cost-effectiveness automated benefit systems offer.
CONCLUSION
To conclude, Thomson Online Benefits offers a demonstratively efficient benefit management and employee engagement solutions that takes into account the nuances of each locality, while delivering a global benefits management solution. Their award-winning platform, Darwin, is used by some of the biggest brands in the world and their 100% enterprise customer retention is proof that they deliver on their promise. They have also partnered with some of the best Enterprise Human Capital solution providers and this gives them an edge over other competitors while offering their clients improved flexibility and functionality.
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