CFN Revamps Employee Portal Service
CFN works with Fortune 1000 companies to create portals that serve as a one-stop spot for employees looking for human resources, benefits and investment information.
"We automate for the HR group within a company all of the HR functionalities. That's everything from open enrollment to new-hire paperwork. We also provide all of the company's content and procedures -- vacation time and manuals and everything else," said Caroline Vanderlip, executive vice president of marketing and products at CFN Inc., New York.
These portals sit on a company's Intranet where employees can access their benefits and vacation information by entering a password. "They can apply for vacation time online. They don't have to do paperwork, visit HR or call a call center," Vanderlip said. "The vacation policy is there. They can then apply for vacation time, plan the trip and take out travel insurance."
CFN can arrange for corporate travel rates and other special services for the employees of their client companies. While it can provide a variety of services, its core competency is investment, lending and other financial services. It works with more than 100 providers, including Ameritrade, 21st Century Insurance and Mortgage.com.
This week the company will unveil the updated version of its employee portal. In the past the portal incorporated links on a company's Web site. Now it will offer a more organized look modeled after MyYahoo.com and other customizable Web sites. Companies can elect to have their employees add functions like weather, sports, stock tickers and other features in addition to the standard HR information.
One of the advantages of this offering is the time saved for the employees and, more importantly, the company. Countless studies show that employees are surfing the Internet for these services during the workday, said Vanderlip. "We're streamlining the process." Having a company put "their stamp on it creates greater loyalty and retention."
CFN's 600 clients range from Bell South to Delta Airlines to Nabisco. It has raised $280 million since March, bringing its private valuation to $1.38 billion. Investors include Gateway, Chase Capital Partners and First Union.