Of the 57 who applied for the HRCM, 39 are men and 18 are women.
The news report also said that it learnt "all five sitting members of CSC and some HRCM members are among the applicants.
HRCM - Driving Excellence in Procurement, Vendor Management, Employee Benefits Administration
The IE-Engine HRCM suite of applications combines technology and expertise to automate and facilitate the entire benefits management process -- from monitoring and tracking benefit provider performance to streamlining plan renewal and RFP processes.
The funds will be used to increase the penetration of IE-Engine's HRCM software among Fortune 1000 employers, employee benefits consultants and brokers, and insurance carriers, and will provide a runway to profitability.
The funding brings IE-Engine's total capital raised to more than $21 million, and is the latest in a series of significant achievements for IE-Engine in the HRCM marketplace.
Now, IE-Engine's HRCM
software automates the request-for-proposal (RFP) process for the purchase and renewal of Pitney Bowes HMO and PPO healthcare plans that cover 18,000 active employees.
com will leverage IE-Engine's HRCM
software to complete market analysis and create benchmarks of the HR services markets for its independent HR research division, Intellectual Capital Group.
solution gives the company better control over the data and cost associated with providing employee benefits such as healthcare.
Lucent's initial use of IE-Engine's HRCM
solution will be to automate HR benefits processes and more effectively manage its health care costs and other HR vendor services, which cover Lucent's 40,000 US-based employees, and more than 146,000 retirees and other former employees.
We selected IE-Engine's HRCM
solution for many reasons," said Barbara Spillane, strategic sourcing manager at Lucent.
Closing our second round with such blue chip investors is the latest milestone for IE-Engine, as we continue to lead the industry in deploying HRCM
solutions within Global 1000 companies," said John McMahon, president and CEO of IE-Engine.