In the USA in 1974, ERISA changed everything. Managing large-scale employee benefit plans became more complex, and more costly. Employers and third-party administrators needed a simple, cost effective solution for benefits administration. SBC Systems Company Inc was founded in 1977 to meet those needs.
The company’s earliest solution operated on IBM mainframes and was designed to help third-party administrators manage pension plans. As desktop computers and Windows operating systems became the norm, SBC quickly adapted. By 1981, SBC Systems had become an industry pioneer with its “by benefits professionals, for benefits professionals” philosophy.
SBC System’s current platform can handle complicated, data-intensive demands, integrate with existing HR/payroll/pension systems and easily adapt to the constantly evolving employee benefits environment. With solutions for a wide variety of needs including Flex, Pensions Auto-enrolment, DB Pensions, Total Reward, Pension Modelling, Tax & NI Savings Calculation and Billing Management, SBC software handles all employee benefits on one platform — without sacrificing data integrity. The company's latest platform extension - Lifeworks - provides enhanced “front end” capability, building on the “back end” capabilities of the long-established Benefits Workstation platform. A further platform extension – Reward Hub - is now available, with increased back end capability to support one-touch, end-to-end processing between employer and provider.
In 2004/5, SBC Systems Company Inc teamed up with B2E Solutions Ltd, a London-based management consultancy which advises companies on effective IT systems implementation and change management, to create SBC Systems (UK) Ltd. Through this partnership, SBC Systems software solutions are now available to UK-based and other European employers and intermediaries.
On January 31, 2012, the business of SBC Systems Company, Inc. was acquired by Morneau Shepell.
While technology and benefit plans have changed over the years, SBC System’s mission and passion have remained the same: to provide employers with a state-of-the-art administration platform capable of being implemented and maintained by benefits professionals. Today, SBC Systems software processes hundreds of thousands of lives for employers’ own benefit programmes, third-party administrators, outsourcers, associations and non-profits, in multiple countries, languages and currencies.