Zenefits Compliance and Licensing+ Apps
Company: Zenefits, San Francisco CA
Entry Submitted By: LaunchSquad
Company Description: Zenefits is the leading all-in-one HCM (human capital management) solution for small and medium businesses, making entrepreneurship easier and more accessible by streamlining HR, benefits administration, payroll and other functions. Zenefits frees business owners across the country from thousands of hours of paperwork, allowing them to focus on what’s most important – growing their companies.
Nomination Category: New Product & Service Categories - Software
Nomination Sub Category: New Product or Service of the Year - Software - Governance, Risk & Compliance Solution
Nomination Title: Zenefits Compliance and Licensing+ Apps
Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and performance to date:
Zenefits provides an all-in-one HR solution for small businesses, combining HR, payroll, compliance and employee benefits. By working closely with small and medium-sized businesses, Zenefits has seen the challenges that the regulatory landscape can cause for business owners – keeping up with complex and ever-changing employment and compliance laws is complicated, time-consuming and can lead to painful fines. To combat these obstacles, Zenefits created simple and effective compliance solutions for businesses to streamline compliance management to minimize risk and ensure regulatory requirements are met.
In January 2017, Zenefits launched the Compliance Assistant App, which helps business leaders track and manage federal compliance deadlines (state deadlines coming soon) for benefits, payroll, taxes, and basic HR. To complement the Compliance Assistant App, Zenefits also launched the Zenefits Documents App, providing a centralized solution for managing personnel documents. In October 2016, Zenefits launched Licensing+, an app built on the Salesforce platform that automatically enforces compliance for licensed sales professionals in the place they conduct sales. The combination of these powerful apps and the Zenefits platform has helped businesses maintain compliance and deadlines, ultimately enabling them to focus on what matters: building their business.
Small businesses face a great deal of uncertainty with compliance and regulatory challenges constantly evolving. To help navigate this, Zenefits first built compliance into its platform and workflows throughout all stages of the employee lifecycle (hiring, promotion, qualifying life events, termination, benefits, etc.). Now, Zenefits added the Compliance Assistant and Documents Apps to give business leaders greater visibility and control over compliance requirements.
The Compliance Assistant App helps admins manage compliance deadlines for related to HR. It allows businesses to create custom deadlines and sync with internal calendars, as well as see the status of compliance obligations. Each status provides additional information about the requirement and links to related information within Zenefits’ HR Library. The Documents App works with Compliance Assistant and automatically stores documents collected both within Zenefits workflows (hiring, promotion, termination, etc.), and outside of those workflows, creating a single document repository for all employees that is organized and easy to manage.
Besides managing deadlines, another compliance pain point comes from selling insurance. The complication lies in the fact that each state requires separate licenses for each line of insurance and renewal timelines can vary. Zenefits saw this and created technology, the Licensing+ app, to solve its own licensing challenges – after finding success, they opened it up to other companies dealing with the complexities of sales in regulated environments. The free and open-source app for Salesforce CRM works across industries where professionals require appropriate licensure, including insurance, financial advisers, real estate brokers, and nurses. Licensing+ automatically cross-checks state requirements against the individual agent status to verify the proper credentials and ensure the information is always up to date for sales.
With Licensing+, companies don’t have to worry about whether their agents are in compliance with state laws – if a license has lapsed, the issue will be automatically flagged, and the agent prevented from using Salesforce to contact relevant clients until the licensing issue is resolved. Additionally, the app can connect with the National Insurance Producer Registry (NIPR) to ensure all licensing information is up to date. Licensing+ integrates directly with Salesforce workflows, meaning there are no additional system requirements and no additional costs. The app works in the background - almost invisibly - giving agents and administrators confidence in their compliance.
Available on the Salesforce App Exchange, the Licensing+ app has been adopted by several national insurance carriers to help manage their own licensing verification challenges, as well as evaluated by other businesses in the insurance industry. Beyond these customers, the number of actual producers using the app externally is unknown, as Zenefits has no visibility or access to external usage or data once a business downloads the app.
In bullet-list form, briefly summarize up to ten (10) of the chief features and benefits of the nominated product or service (up to 150 words).
1) Zenefits Compliance Assistant App – helps business leaders track and manage federal compliance deadlines for benefits, payroll, taxes, and basic HR
2) Zenefits Documents App – provides a centralized solution for managing personnel documents
3) Licensing+ – app built on the Salesforce platform that automatically enforces compliance for licensed sales professionals in the place they conduct sales