Human Resource Management Solution Providers, Lyceum Business Services and BenePAY, Announce Merger
Benepay Technologies will deliver a complete human resource management service and technology solution for those organizations facing increased compliance requirements and administrative demands.
June 2, 2014 (Gaithersburg, MD) -- Grand Rapids, Michigan and Gaithersburg, Maryland - BenePAY, LLC and Lyceum Business Services, LLC announced the merger of the operations of the two privately held entities. The new company, Benepay Technologies, LLC (BPT), brings together a leading software developer and a highly successful full service payroll/HR provider.
The merger resulted from the recognition of a shared vision of the future of Human Capital Management (HCM). It has been driven by the belief that the best HCM solution needs to remove the paperwork and tasks from today’s HR department, especially in the face of the upcoming compliance challenges. The combined strengths of both companies will make this vision a reality.
As a technology company founded in 2003, Lyceum created OneTouch, a truly integrated single-database, single sign-on, benefit administration, HR, payroll, time tracking, and compliance solution for HCM practitioners. Lyceum’s more notable clients include the United States Public Health Service, International Association of Fire Chiefs, Skype, and the YMCA.
Established in 2008, BenePAY LLC became a trademark of superior service and support. It leveraged non-integrated systems into cohesive solutions across industries by featuring strong and valued relationships as a liaison between channel partners: CPAs, brokers, insurance carriers, etc. The market quickly rewarded this model, and shortly after, BenePAY found itself successfully servicing 1,500 clients across all 50 states.
This year, the Affordable Care Act (ACA) began to redefine the nature of HCM for employers across the nation. This is especially so because ACA compliance requires an integrated response from all areas of the business. By providing an array of HCM solutions integrated into a single technology platform, Benepay Technologies will address the administrative concern within four categories: Human Resources, Benefit Administration, Compliance and Payroll. Furthermore, OneTouch provides comprehensive Key Performance Indicators (KPIs) that will give the HR administrator complete control and management of their business and task force.
“As our clients and prospects deal with increased compliance demands the need for a fully integrated system is abundantly clear. This merger brings a best in class technology together with a proven growth and service model,” said Chris McMillan, CEO of BenePAY LLC.
With cutting edge technology that has been proven by a decade of servicing the federal government, as well as industry experts with years of service experience, the new company is confident and ready to help employers across the nation with the upcoming challenges driven by ACA and other changes expected in the years to come.
"Benepay Technologies is delighted that this merger will offer expanded services to existing clients and partners. We are equally excited about the new business opportunities this provides, and we look forward to delivering the industry’s best, fully integrated solution," says Erik Rind, President and COO of Benepay Technologies.
The new company will have offices in Michigan, Maryland, Texas, New Jersey, Ohio and Florida.