Ascentis successfully manages client ACA reporting; Receives strong feedback about robust solution and easy-to-manage process
Ascentis publishes and files thousands of Form 1095-Cs and employer filings for the 2015 tax year
San Mateo, Calif., June 29, 2016 – Ascentis Corporation, a market leader in easy-to-use human resources software, online payroll services, and HCM (human capital management) solutions, announced today its successful management of the ACA (Affordable Care Act) process for its client base.
“We switched from another HCM provider to Ascentis in 2013. I can’t tell you how often I’ve commented about how grateful I am that we made that move,” said Linnea Blair, human resources manager at The Warren Group. “Ascentis ACA reporting was terrific, especially the presentations, step-by-step guides and the client support.”
With Ascentis’ full suite HCM offering, many existing and new clients gravitated to the Ascentis solution because underpinnings of the ACA are supported by several core Ascentis solutions, especially HRIS and benefits management, and Ascentis Timekeeper and Payroll. The combination of these products provides clients an integrated experience to determine eligibility and affordability, complete Form 1095-Cs, and electronically file Form 1094-C with the IRS – all without needing to extend beyond the Ascentis suite.
“Having managed many clients on the Ascentis platform for almost 20 years, we’ve depended on its flexibility, ease of operation and extensibility to support our clients,” said Larry Turnbull, executive vice president, David M. Banet & Associates. “When ACA tracking and reporting became the central compliance challenge of 2015, Ascentis developed a solution that provided us the ability to effectively counsel and guide our clients on ensuring ACA became a simple task, not a complex and burdensome activity. In addition, our longstanding partnership with Ascentis and our access to their executive, product development and services teams have allowed us to have direct impact on the overall solution produced. In summary, Ascentis really made the process of complying with the ACA a success story for us.”
Additional functionality of Ascentis ACA Reporting Services includes:
- Form 1094-C for each ALE (applicable large employer)
- Form 1095-C for each employee, delivered electronically through Ascentis Employee Self-Service or mailed directly to the employee
- Electronic filing with the IRS, regardless of organization size
- Corrections for Forms 1094-C and 1095-C
- An extensive library of ACA educational content and training
“The regulations and complexity of the ACA was a daunting task for clients and prospects. Ascentis stepped up to the plate to effectively provide a solution that was not only robust but very easy to use,” said Ascentis CEO, DJ Chhabra. “Coupled with our communication strategy, fanatical client support and educational webinars, Ascentis made this very complex process simple and provided confidence to clients that the ACA process was being managed in a timely and compliant manner.”
Ascentis Corporation, backed by Palm Ventures and Catalyst Investors, offers easy-to-use, human capital management recruiting, HRIS, talent management, online payroll, and time and attendance solutions that support greater business efficiency and accuracy. Ascentis automates critical HR and payroll processes such as full-scale benefits management, compliance, online open enrollment, workforce management, real-time payroll processing, tax filing, applicant tracking, employee and manager self-service and reporting. Ascentis’ talent management solutions include learning management, performance management, succession planning, 360° assessment and compensation management. One point of data entry means employee information is accurate, up-to-date and reportable. Electronic submission of information to insurance carriers eliminates errors and supports a paperless open enrollment process.
About Catalyst Investors
New York-based Catalyst Investors is a growth equity firm focused on technology-enabled services including cloud computing, wireless infrastructure and digital media. Catalyst was founded in 2000 and is investing its third fund. A proactive investor, the firm draws on its extensive industry expertise to work in true partnership with management to build long-term value. Past and present Catalyst portfolio companies include Aloha Partners; InSite Wireless Group; Latisys; MessageLabs; MediaMath; MINDBODY; Nine Systems; Videology; WeddingWire; and Xplornet. For more information, visit www.catalystinvestors.com.
About Palm Ventures
Palm Ventures, based in Greenwich, CT, is a family investment company and is focused on investing its capital and that of a small group of substantial investors in companies which have a positive and transformative impact on society and generate predictable revenue streams in fragmented industries. Palm Ventures takes a strong value-added approach to the development of its portfolio companies, leveraging a broad network of strategic investors, retired executives and operating professionals who provide strategic advice and oversight to companies and management. For more information, visit www.palmventures.com.