“PSST is growing into a comprehensive provider of data integration and compliance solutions,” COO Carl Williams explained. “We currently partner with other regional and national providers, such as American Fidelity, Frontline Education, Akunaware."
Louisville, KY (PRWEB) March 14, 2017
PSST LLC experienced tremendous growth in the last year as a leading player in the compliance solution market with its ACA-Track™ software. ACA-Track is a software compliance solution for the compliance and reporting requirements of the Affordable Care Act (ACA).
The Louisville-based company, whose products are used by nearly 80 percent of all Kentucky school districts, now has more than 600 clients nationwide using ACA-Track. These clients include third party brokers who resell the software, as well as direct users, which are companies with 500+ employees and K12 school districts. Among its school district clients are Jefferson County Public Schools, the largest school system in Kentucky with 20,000 employees, and Ft. Worth Independent School District, the fifth largest district in Texas with more than 15,500 employees.
The ACA mandates employers with 50 or more employees offer health insurance to qualifying employees. ACA-Track tracks employee hours throughout the year and flags those employees who are nearing or have reached qualifying thresholds based on actual hours worked. The software also assists employers with electronic filing of required employer IRS Forms 1094c and 1095c.
According to PSST Chief Operating Officer Carl L. Williams, Sr., ACA-Track has helped grow the company’s annual revenues over the last two fiscal years.
“ACA-Track has given us some financial traction as well opportunties to enter the commercial market,” Williams reported. “We are well poised for new product development for the commercial market and to enhance our K12 market offerings.”
The Future of ACA
Despite the current “Repeal and Replace” movement of the Trump Administration, PSST is confident the employer reporting requirements of the ACA will be in play for at least one more year, if not longer, says Williams. PSST, a provider of data integration solutions for Kentucky’s K12 market for nearly 27 years, will continue to build compliance products for payroll, finance and human resources in the years ahead for expansion.
“The IRS has indicated it will begin following through with notifications of fines to employers for the 2015 ACA reporting year in early 2017,” Williams said. “Even if the ACA were repealed tomorrow, experts in the industry speculate the law will mostly likely stay in force for employer reporting through 2018.”
Commercial Market Potential
The development of ACA-Track as a solution for the commercial market as well as K12 districts has allowed PSST to expand its market areas. The company now has clients in 36 states. In addition to expanding PSST’s market area, ACA-Track has opened the doors to new strategic partnerships and the development of expanded products.
“PSST is growing into a comprehensive provider of data integration and compliance solutions,” Williams explained. “We currently partner with other regional and national providers, such as American Fidelity, Frontline Education, Akunaware, to offer clients complete human capital management solutions that are electronic and seamless.”
Commitment to K12 Market
Regardless of the future of ACA, Williams says PSST is well poised to continue its expansion in the K12 market.
“Since the company began in 1992, PSST has built a solid reputation as an integration solution for integration with Munis,” Williams said. “Munis is a financial management system used by every school district in Kentucky, and it is also utilized by hundreds of other districts throughout the United States. Our integration and related K12 products allow districts to maximize their experience with Munis by moving data bi-directionally and intelligently in real time.”
“Our professionals have more than 200 years’ combined experience at the district level in HR, finance, payroll and benefits,” Williams said. “This experience enables PSST to develop products and services that uniquely meet the special needs of K12 administrators.”
PSST LLC is a provider of data integration and compliance solutions for commercial and K12 markets. Founded in 1992, its products and services integrate with a variety of financial, human resource, payroll and benefits management systems to enhance efficiency, improve processes and create cost-savings.
Munis® is a registered trademark of Tyler Technologies. PSST is a preferred Partner of Frontline Education™ and is approved for use with Frontline Recruiting & Hiring™ and Frontline Absence & Time™.