ST. LOUIS, Oct. 23, 2014 /PRNewswire/ -- Equifax Workforce Solutions, a leader in human resource, analytics and verification services, and a business unit of Equifax Inc. (NYSE: EFX), today announced that its Affordable Care Act (ACA) Management Platform, an advanced tool that enables HR departments to automate ACA compliance, has been selected for a 2014 Ventana Research Technology Innovation Award in the category of Business Innovation for Governance, Risk and Compliance. The company accepted the honor at a reception that took place at the Ventana Research Summit on Wednesday, October 22, 2014.
Selected for its highly innovative features, the ACA Management Platform is designed to help organizations comply with the employer mandate and avoid ACA-related fines. The platform quickly integrates benefits, payroll and HRIS data to provide forward-looking insight into eligibility, affordability and fine exposure. The platform also automates the distribution and fulfillment of IRS reporting requirements.
"Equifax Workforce Solutions understands the complexity of the ACA, which is why we developed a solution that simplifies ongoing management to help organizations navigate and comply with the legislation," said Mike Psenka, senior vice president, Workforce Analytics, for Equifax Workforce Solutions. "Since its launch, the ACA Management Platform has grown to manage ACA compliance for over 250 organizations representing 7.6 million employees. We are extremely honored to receive this award from Ventana Research, which recognizes the strength of our technology and our commitment to innovation."
"We would like to congratulate Equifax on winning this year's Ventana Research Technology Innovation Award in the category of governance risk and compliance (GRC)," said Stephan Millard, VP and Research Director, Ventana Research. "Equifax's ACA Management Platform contains many of the needed capabilities to help companies reduce overall risk and reduce risk of non-compliance with laws and regulations, specifically the impending requirements of Affordable Care Act and the Employer Shared Responsibility Provisions, which our research shows as the two most important objectives of GRC projects."
In addition to accepting the award, Equifax Workforce Solutions participated in a panel discussion at the Ventana Research Summit. Speaking on the topic of maximizing employee experience with applications, Jason O'Leary, senior director of Product Delivery for Equifax, helped highlight the importance of technology innovation as part of the recruitment and hiring process.
More About the Ventana Technology Innovation Awards
Presented annually, the Technology Innovation Awards are the largest business and technology awards program in the industry. The Awards are delivered by the Ventana Research team, which examined each submission to evaluate the technology's level of innovation as well as its business impact and value.
About Ventana Research
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About Equifax, Inc.
Equifax is a global leader in consumer, commercial and workforce information solutions that provide businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 600 million consumers and 81 million businesses worldwide. The company's significant investments in differentiated data, its expertise in advanced analytics to explore and develop new multi-source data solutions, and its leading-edge proprietary technology enable it to create and deliver unparalleled customized insights that enrich both the performance of businesses and the lives of consumers. Equifax Workforce Solutions (also known as TALX), an Equifax business unit, is a leading provider of human resource, data, analytics and verification services.
Headquartered in Atlanta, Equifax operates or has investments in 19 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. In 2013, Equifax was named a Bloomberg BusinessWeek Top 50 company, was #3 in Fortune's Most Admired list in its category, and was named to InfoWeek 500 as well as the FinTech 100. For more information, please visit www.equifaxworkforce.com or www.equifax.com.
SOURCE Equifax Inc.