It’s no secret that TASC continues to thrive. For well over ten years we have grown 15 to 20 percent each and every year. That’s an amazing stat, and it’s even more startling when we consider the nation’s economic climate over the last few years.
Much of the growth has been created by traditional sales. Our expansive distribution system features employed Regional Sales Directors (RSDs) and thousands of independent sales representatives, called Providers. This team works hard to help TASC maintain a distinctly local presence in many regions across the country.
Traditional sales are only part of our equation for growth. An increasing portion of TASC’s annual sales come in through the acquisition of other Third-Party Administrators (TPAs). Recently we acquired three TPAs with a collective annual revenue that exceeded twenty million dollars. This is additional revenue that TASC will re-invest in making the company stronger: more RSDs, more technology, and more innovations to better serve customers.
Without question acquisitions bring far more than additional revenue to TASC. When we acquire a company we also adopt new employees with unique ‘portfolios’ of experience, talent, and skill. For example, when TASC joined forces with Hirsch Financial Services (HFS) we also acquired 60 new employees. In business since 1996, some of these HFS veterans have decades of industry experience; adding them to our team can only help us serve our customers. Then there’s our acquisition of Flexible Corporate Plans which added another 33 employees. By adding those two companies, we boosted our skills and resources in Maryland and Alabama, and we strengthened our presence on the east coast and in the south. Add to that the staff we have acquired throughout the years in California, Hawaii, Minnesota, Rhode Island, and Tennessee, to name a few of the many states. Because of these acquisitions we have added sales and customer service reps, marketing and legal staff, product and technology managers, and individuals with many other vital skills.
There’s another plus that comes from acquiring TPAs: the addition of new products and services. Our acquisitions have made it possible to add Retiree Billing, ERISA, FMLA services, and more without investing time and expense in product development. Of course this added diversity makes us stronger.
Now, we won’t ever abandon traditional sales. In fact, we are in the middle of a big effort to increase our RSD presence, which will expand our reach into new territory and boost sales. And while our commitment to traditional sales is absolute, I know there’s wisdom in combining traditional sales with a proactive acquisition program. This balanced approach will continue to boost our growth, and as we increase our customer base, enhance our staff, and diversify our offerings, we will be bringing a competitor over to our side at the same time!
TASC CEO Blog 