Strategic Investment Aims to Set a New Industry Benchmark for Employee Experience Within the $3 trillion Market of Non-Cash Compensation – across Health and Wealth

August 8th, 2024 – ADP (Nasdaq: ADP), a leading global technology company providing human capital management (HCM) solutions, today announced a strategic investment in Nayya, an innovative employee benefits system of action through its strategic investment arm, ADP Ventures.

Nayya has been an ADP partner since 2022, enabling smarter benefits management for over 600,000 employees on ADP Workforce Now. Today, ADP also unveils that Nayya’s product suite will be offered to more than 400,000 employees across ADP TotalSource, the world’s largest PEO. Using AI, Nayya’s products help employees choose their benefits, use their benefits, claim their benefits, and save for retirement in a holistic, data-driven, and automated way.

“We’re excited to invest in and deepen our relationship with Nayya. This partnership is setting a new benchmark for benefits guidance and employee experience through our data-driven approach: elevating industry standards for how benefits can be managed and enjoyed,” said Usman “Oz” Khan, senior vice president, ADP Ventures.

This transformative partnership combines ADP’s extensive employee benefits system of record (and vast HR data) with Nayya’s advanced employee system of action (and vast employee data). Together, the two companies are leveraging the use of data and artificial intelligence to provide employees with more tailored benefits experiences.

The entire ecosystem has much to gain. Employers can optimize their benefits spending, brokers can scale effective data-driven advice down to employee level, and benefits carriers gain richer insights into customer needs, leading to better product offerings.

"The expanded relationship with Nayya through ADP Ventures represents an exciting opportunity to extend capabilities to PEO and across our entire client base, ensuring millions of employees can benefit from personalized guidance,” said George Michaels, ADP senior vice president, Health & Wealth. “This will enable employees and employers to select, optimize and manage benefits including claims management to retirement planning that meet their needs and supports their health and wealth-related goals.”

“The employee benefits industry is at an inflection point. ADP is the largest payroll company in the world. ADP is the largest employee benefits administration company in the United States. The market leader is proceeding like the market leader. Combining best-in-class systems of record with best-in-class systems of action has proven vital to dominating industries: whether CRM, ITSM, or employee benefits. Nayya’s four-part product suite embedded within ADP will be a panacea to tens of millions of people looking for help.