TriNet jumps on e-business bandwagon
The privately held firm launches an e-business strategy to offer outsourced Web-enabled business applications and secures $4 million in financing.
As part of its new Internet strategy, TriNet VCO plans to release an integrated Web-enabled service for payroll, benefits and human resources applications in the first quarter of 2000, the privately held company said in a statement.
The announcement comes at a time when most services companies have launched some type of e-business or Internet strategy to better compete among Internet-focused services firms. Even larger traditional services firms that also offer outsourced technology services, such as EDS, CSC and Unisys, have shifted their focus to e-business as more companies take their business to the Internet.
TriNet VCO develops extranet systems that currently allow companies, such as technology venture firms Benchmark, Softbank and Kleiner Perkins, to access individual employee information, enroll in benefit programs and receive other human resources information.
With the company's new e-business initiative, TriNet said it will now be expanding its self-service offering to cover a broader range of transactions, including real-time management reporting, an online new-hire processing system and online access to a bundled suite of payroll, benefits and management services.
TriNet also said its customers will be able to manage all their human resources business needs via a customized Web portal that can be accessed through the client's Intranet.
"Moving all of our services to the Web creates even more value for both our emerging and middle market customers," TriNet chief executive Martin Babinec said in a statement, adding that customers will be able to do everything via the portal. "They'll be able to see their paychecks online, handle their benefits enrollments, and soon oversee personal financial transactions involving their 401(k) plans and investment."
San Leandro, Calif.-based TriNet VCO also announced it has changed its name from TriNet VCO to TriNet and closed $4 million in financing from Sanwa Bank.