Towers Watson Named a Leader on the Global Outsourcing 100 List for the Third Consecutive Year
Company also recognized in benefits administration outsourcing industry report
NEW YORK--(BUSINESS WIRE)-- Global professional services company Towers Watson (NYSE, NASDAQ: TW) has been named to the 2013 Global Outsourcing 100® List by the International Association of Outsourcing Professionals (IAOP), the third consecutive year Towers Watson has received this honor. Additionally, Towers Watson has been recognized as a top benefits administration outsourcing provider in a report issued by Everest Group, an advisory and research firm on global services.
The IAOP 2013 Global Outsourcing 100 list recognizes the world's best outsourcing service providers across all industries. Providers are judged by an independent panel of experienced outsourcing buyers on four critical characteristics: size and growth, customer references, organizational competencies and management capabilities.
"We are honored to once again be included on this list of the world's leading outsourcing companies," said David Dow, Towers Watson's managing director of benefits outsourcing in EMEA. "Our associates are committed to providing innovative and high-quality outsourcing services and solutions for our clients. This dedication to excellence comes at a time when more and more companies are carefully evaluating their outsourcing partners, and the quality and level of service they provide."
Towers Watson provides high-quality benefits administration outsourcing services to employers, and supports millions of their employees and retirees around the globe. The company's solutions include pension, flexible benefits, and health and welfare benefits administration, and dependent eligibility verification review services, supported by sophisticated, user-friendly employee, retiree and management self-service technology, and onshore benefit service centers. Towers Watson is ranked one of Fortune magazine's 2013Most Admired Companies in the diversified outsourcing category.
"As applicants continually raise the bar, and as the outsourcing industry continues to grow and mature in many markets, competition is tougher," said Jag Dalal, managing director of thought leadership, IAOP and chairman of the judges' panel. "Being named to The Global Outsourcing 100 is a great achievement, particularly given the strong competition, and we are proud to recognize Towers Watson for their excellence."
The complete 2013 rankings will be published in the May 20 Fortune 500 issue of Fortune magazine in a special advertising feature produced by IAOP.
Everest Group Benefits Administration Outsourcing Report Recognizes Towers Watson
Additionally, Everest Group has highlighted several Towers Watson industry achievements in its industry report, Benefits Administration Outsourcing (BAO) Report -- The Horse Is Ready to Bolt, and provider compendium, Benefits Administration Outsourcing -- Service Provider Landscape and Capability Assessment. These include:
Achieving the second-largest market share globally based on the number of active benefits administration outsourcing deals among the top seven providers
Leading all service providers in the EMEA region, with 59% market share
Being a top-quartile performer for delivery capability in scope and technology capabilities
Being one of the four largest BAO providers globally and the top defined benefit outsourcing provider with the largest number of deals
Being one of only three providers globally with significant experience delivering BAO in multiple regions
The Everest Group report also noted that Towers Watson continues to make technology enhancements to keep pace with the changing marketplace. These innovative technology advancements include mobile and smartphone applications that allow employees to access their benefits as well as online benefit portals, decision support systems and tools, and Towers Watson's investment in building OneExchange, a health insurance exchange for active employee and retiree populations.
"According to the Everest Group, the BAO marketplace is expected to grow strongly again this year, driven largely by looming deadlines for companies to comply with health care reform legislation," said Pat Amendola, Towers Watson's managing director of technology and administration solutions in North America. "We are well positioned to meet this demand and provide the highest-quality outsourcing solutions that our clients have come to expect."
About Towers Watson
Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers solutions in the areas of benefits, talent management, rewards, and risk and capital management. Towers Watson has 14,000 associates around the world and is located on the web at towerswatson.com.
The International Association of Outsourcing Professionals® (IAOP®) is the global, standard-setting organization and advocate for the outsourcing profession. With more than 120,000 members and affiliates worldwide, IAOP helps companies increase their outsourcing success rate, improve their outsourcing ROI and expand the opportunities for outsourcing across their businesses. To learn more, visit iaop.org.
About Everest Group
Everest Group is an advisor to business leaders on the next generation of global services with a worldwide reputation for helping Global 1000 firms dramatically improve their performance by optimizing their back- and middle-office business services. With a fact-based approach driving outcomes, Everest Group counsels organizations with complex challenges related to the use and delivery of global services in their pursuits to balance short-term needs with long-term goals. Through its practical consulting, original research and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies and management approaches. Established in 1991, Everest Group serves users of global services, providers of services, country organizations and private equity firms, in six continents across all industry categories. For more information, please visit www.everestgrp.com and research.everstgrp.com.
KEYWORDS: United States North America New York
The article Towers Watson Named a Leader on the Global Outsourcing 100 List for the Third Consecutive Year originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.