Gone are the days when the best employee benefits program would just include healthcare insurance and pension. In today’s modern corporate landscape, businesses have to offer a list of benefits in order to attract and retain qualified talent. Benefits administration makes sure these programs run smoothly by effectively managing, tracking, and providing employees with the benefits they need. However, handling this manually can be a cumbersome task; this is why you need a benefits administration tool. With plenty of options, the two leading platforms in this space are isolved and Summit. But how do you choose one? In this blog, we will compare isolved vs Summit, so you can have a clearer picture of which platform aligns best with your goals and employee experience.
Feature | isolved | Summit |
Benefits Administration |
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Reporting |
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Ease Of Use |
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Employee Well-Being |
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Mobile App |
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isolved is an all-in-one human capital management (HCM) solution that automates human resources (HR) processes, time tracking, benefits administration, payroll, and more. With access to ‘isolved People Cloud’, you can manage the entire employee lifecycle, from pre-hire to retirement. Designed to empower both employers and employees, the software combines artificial intelligence (AI)-powered tools, self-service, and workforce management to improve efficiency and position organizations for long-term success. isolved is suitable for small businesses and large enterprises across different industries like healthcare, retail, financial services, hospitality, and manufacturing.
Unique Features Of isolved
isolved Pros And Cons
Pros:
- It comes with time-saving features like open enrollment, tax calculations, and paid time off (PTO) tracking
- Dedicated and helpful customer support, resolving issues promptly
- Comes with a unified system for payroll, onboarding, and benefits administration
Cons:
- Employees often encounter challenges with password resets and account access
- Occasional issues with clocking in and out
Summit, developed by DataPath, is a benefits administration software designed for third-party administrators (TPAs). The platform helps manage ‘Consumer Directed Healthcare’ (CDH) accounts, retirees, direct billing, and the ‘Consolidated Omnibus Budget Reconciliation Act’ of 1985 (COBRA). Its benefits payment solutions make it a go-to option for organizations wanting to simplify complex programs. The software serves businesses from various industries, including healthcare and insurance.
Unique Features Of Summit
Summit Pros And Cons
Pros
- Makes managing CDH, COBRA, and direct billing easy
- Offers a comprehensive platform that focuses on employee well-being, including physical, mental, and financial wellness
- Scalable to handle complex benefits programs
Cons
- Limited HR functionalities beyond benefits management
- Customization may lead to a steeper learning curve for new users
When it comes to deciding between isolved vs Summit, it mainly depends on the needs and requirements of your organization. If you are looking for a comprehensive solution that unifies payroll processing, HR functions, and benefits administration, isolved is an excellent option. In case you are in search of an advanced and detailed benefits management solution, then Summit is the right choice.
Both platforms offer valuable strengths, and ultimately, the decision rests upon what matters most to your business. By carefully evaluating your options, you can determine which solution better suits your objectives.