BPaaS is revolutionizing ACA Compliance
Companies face many challenges when attempting to gain better control of their Human Capital Management (HCM) systems and data and ensuring their company is compliant with employee benefit regulatory requirements. Recently, Business Process as a Service (BPaaS), business process over the cloud, has become a very popular answer to organizations’ search for a solution to ACA compliance which takes into account the rapidly changing government regulations, the strain on IT resources and lack of internal knowledge concerning the Affordable Care Act (ACA). BPaaS delivers industry-level expertise and services for ACA Compliance.
Gartner defines business process as a service (BPaaS) as the delivery of business process outsourcing (BPO) services that are sourced from the cloud and constructed for multitenancy. Services are often automated, and where human process actors are required, there is no overtly dedicated labor pool per client, the resources are shared. The pricing models are consumption-based commercial terms, you pay only for what you use. .Accordingly, BPaaS solutions are cost effective when used to supplement core technologies like HCM
BPaaS is an type of process where the services delivery is based on cloud service models.
BPaaS includes and uses SaaS, PaaS, and IaaS.
These cloud services include Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS); and are therefore dependent on these cloud related services. The BPaaS comes on top of the cloud service.
How (BPaaS) is transforming ACA Reporting and IRS Efiling
Operating on the GAPS in the business process provided via the HCM
While most major HCM and payroll vendors provide a software solution to administer Affordable Care Act (ACA) data, these ACA modules often do not provide all of the steps the ACA reporting business process requires, therefore leaving a gap in the service delivery model. This gap could range from Form 1095 printing to eFiling to the IRS. BPaaS for ACA fills these gaps, efficiently and smoothly.
Below is a summary of the processes required to complete ACA Reporting and Efiling to the IRS to achieve compliance. The BPaaS process enables a user to select any or all of the processes as their requirements demand. Since they pay for only what they need and use; the solution is very economical. Using the BenefitScape BPaas is simple, provide us your XML, indicate the services you will need and our expert analysts will take it from there.
BPaaS can help users manage their ACA TY2017 filings easy and cost effectively. More information is available on our Blog or on our site at www.IRSAIR.com