Illinois Tool Works chooses Empyrean Benefit Solutions for Health and Welfare Administration
Empyrean Benefit Solutions (Empyrean) announces a long-term agreement to provide Health and Welfare administrative services for Illinois Tool Works (ITW).
ITW has administered benefits internally for many years. Recently, senior management decided it was time to leverage outside expertise in order to lessen their administrative processes in favor of more strategic activities. ITW also wanted to increase employee access to self service tools and information, enabling them to better manage their benefits. The decision to outsource was a crucial step towards creating a more efficient and effective administration and benefits delivery method for the organization and its employees.
Working with a sourcing adviser, ITW requested proposals from leading benefits administration organizations. "Even with our adviser's guidance, comparing the services of many of the industry's best providers across a broad array of services was a difficult and time-consuming endeavor", said Jim King, Director of Health and Welfare Benefits.
After reviewing the proposals, arranging site visits and listening to presentations, ITW chose Empyrean Benefit Solutions as their partner. "Empyrean's technology and flexibility was a real differentiator for us," said Mr. King. "Empyrean is able to integrate all of our vendor relationships and administrative requirements on an integrated platform at a very competitive cost. We will now have access to information across all divisions and locations in real-time, enabling us to act faster and with greater insight."
"ITW is a global leader in manufacturing with a true passion for innovation and a strong commitment to its customers and employees," said Richard Wolfe, COO of Empyrean. "We are committed to helping ITW streamline its administration processes and leverage state-of-the-art technology to become a more efficient plan sponsor and raise the level of customer service afforded employees."
About ITW
With $14.9 billion in revenues, ITW is a diversified and value-added manufacturer of highly engineered components, industrial systems and consumables. The Company consists of more than 825 business units in 52 countries and employs some 60,000 people.
About Empyrean
Empyrean Benefit Solutions (www.empyreanbenefits.com), an emerging leader in providing health and welfare solutions, is lead by Dave Carlson, former founder of SynHRgy HR Technologies, Inc. To date, Empyrean has acquired 22 clients across the U.S. who leverage Empyrean's unique and powerful technologies to achieve process transformation and business goals. Empyrean's service delivery model represents the next generation in benefits delivery capability, combining traditional health and welfare administration services with powerful healthcare data to enable reductions in costs associated with plan sponsorship.