In February of 2023, BambooHR announced a new product module. The missing piece in BambooHR's quest to become a true all-in-one HRIS solution for companies has been a benefits administration module.
Now that the module is live, this can make Bamboo an even more relevant option for businesses:
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BambooHR's announcement of their new benefits administration module came as a surprise to many. Bamboo had always steered clear of offering benefits management tools in their HRIS and had, instead, forged partnerships with 3rd party tools like PlanSource and Ease.
However, BambooHR's latest announcement will allow customers to manage their benefits enrollment and benefits administration processes natively in the system.
Bamboo's program allows administrators to populate new benefit plans and eligibility rules into the system. It also allows users to have a user-friendly experience when enrolling in benefits, whether that be at the time of hire, when a life event takes place or at open enrollment.
What wasn't covered in full detail in the announcement was details about BambooHR's carrier integration and payroll integration connectivity. More to come on this in the future!
What It Means for BambooHR
BambooHR has always offered a user-friendly solution, at a fair price for small-to-mid-sized businesses. And, they consistently have some of the most helpful customer support representatives in the industry.
Despite all of those positives, BambooHR hasn't been a no-brainer recommendation for all of our customers for one big reason: Bamboo couldn't be an all-in-one system.
Bamboo always offered a nice HRIS platform with good recruitment and talent tools, but they historically stayed away from payroll and benefits administration
A few years ago, they acquired a national payroll company, Trax, and have been slowly but surely integrating that platform into their existing tech stack.
And just this week, BambooHR has announced a homegrown benefits administration platform that will provide the missing piece to their all-in-one capabilities.
BambooHR hired a new Chief Product Officer last year who has provided a much needed lift to their development team.
It's great to see a company with their level of success continue to accelerate and push the product forward. If you're interested in demo-ing the new BambooHR, you can request a demo here