CHARLESTON, S.C., Dec. 21, 2017 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, today announced the BENEFITFOCUS® Marketplace won a Brandon Hall Group gold medal award for the Best Advance in Compensation and Benefits and/or Payroll Administration category. More than 903 large employers currently use Benefitfocus Marketplace, which Benefitfocus updated this year to include more sophisticated analytics, algorithms and cost estimator tools for improved insight into benefit costs and usage.

"We're at a juncture where designing a more creative benefits program that manages cost while providing for an increasingly diverse, multi-generational workforce – and each person's unique situation and needs – is more important than ever," said Ray August, President & COO, Benefitfocus. "We are thrilled to be recognized by Brandon Hall for our data-driven tools that give employers and employees better insight into their benefits options." 

A panel of independent senior industry experts and Brandon Hall Group senior analysts and executives evaluated the entries based the product's breakthrough innovations, unique differentiators, value proposition and measurable results and benefits for customers.

"Human capital management is evolving faster than at any time in its history, and it is powered by innovative technology developed and implemented by organizations big and small," said Rachel Cooke, Chief Operating Officer of Brandon Hall Group and head of the awards program. "The technology innovators who won Excellence Awards this year were focused on providing users with a better overall experience. That is what our research says employers want, and our award winners are leading the way." 

Mike Cooke, Chief Executive Officer of Brandon Hall Group, said, "Our technology award winners are truly outstanding and set a high bar for others. We have learned a great deal from what they have accomplished. The awards programs supplement our quantitative research in providing our team with unique insights to share with our members and clients."

Learn more about Benefitfocus' solutions at www.benefitfocus.com/solutions.

About Benefitfocus

Benefitfocus (NASDAQ: BNFT) provides a leading cloud-based benefits management platform that simplifies how organizations and individuals shop for, enroll in, manage and exchange benefits.  Every day leading employers, insurance companies and the consumers they serve rely on our platform to manage, scale and exchange benefits data seamlessly. In an increasingly complex benefits landscape, we bring order to chaos so our clients and their employees have access to better information, make better decisions and lead better lives. Learn more at www.benefitfocus.com, LinkedIn and Twitter.

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results or performance might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; changes in government regulations; our ability to compete effectively; the immature and volatile nature of the market for our products and services and other factors that could impact our anticipated growth; management of growth; fluctuations in our financial results; general economic risks; reliance on key personnel; our ability to maintain our culture and recruit and retain qualified personnel; privacy, security and other risks associated with our business; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec.cfm or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

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SOURCE Benefitfocus, Inc.