San Jose, CA, December 24, 2009 --(PR.com
)-- Stock & Option Solutions (SOS), a leading provider of stock plan management, administration and consulting services, today announced the availability of its SOS-TEAM Outsourcing service. The move is described as the last major logical step in the growth of service offerings for the 10-year old company.
The TEAM Outsourcing solution offers a shared services approach for companies seeking to offload their stock plan database management, as well as any of the internal tasks, responsibilities, or even the overall management of their internal stock plan administration function. The solution is intended to compare favorably on price with existing outsourcing models, while also offering a far more comprehensive set of services intended to allow companies more flexibility in what they continue to manage, and what they outsource.
The TEAM Outsourcing program breaks equity compensation management down into four core areas
1. Stock Plan Administration (Record keeping, database management, transaction-based details)
2. Client Side Management & Tasks (including long-term strategic planning)
3. Financial, Accounting, and Tax Reporting
4. Special Projects & Onsite Needs
From this list, and the subcategory of activities which compose it, SOS clients can choose which make sense to outsource, and which should remain in-house. At the outset, SOS will also work with their clients to choose the software platform and brokerage service(s) that fits the needs of the company.
“Most outsourcing offerings handle only the administration piece of the puzzle and require companies to perform reconciliation, financial reporting, and any special projects on their own. Our new approach changes all that and allows SOS to carry the burdens of stock plan management for the company,” said Elizabeth Dodge, Vice President of Product Management at SOS.
Companies which offer equity compensation must typically manage and administer their programs with a cross-functional team that can include employees from finance, accounting, tax, human resources, payroll, legal, and stock administration utilizing in-house software or an outsourced platform. As the challenges of effectively administering these program in-house have grown, so have the requests from companies to fill the growing expertise, technological and resource gap in their corporate equity compensation function.
“With FAS 123(R), backdating, the introduction and growth in the use of various equity vehicles, international compliance issues, and a rapidly-evolving domestic legislative landscape, the past 10 years have seen significant changes in equity compensation management,” said Sean Lembree, CEO of SOS. “The next decade will likely bring even greater challenges, and companies that partner with SOS through our outsourcing program will be poised to leverage our expertise to adapt and excel in even the most turbulent times.”
With expertise in areas including international, financial reporting, employee communications, and equity systems, as well as a team of “generalist” administrators able to handle whatever day-to-day tasks are required, Stock & Option Solutions’ offering can fill the deficiencies in any program.
“Now is the time for companies to renew their focus on their own core competencies. By allowing SOS to manage their stock plans end-to-end, our clients know that they are integrated with an organization which is at the center of the stock plan industry, and that this is not only going to help them operate more efficiently and effectively, but also give them a real competitive advantage within their own industry,” said Lembree.
For further details on SOS-TEAM Outsourcing more information about Stock & Option Solutions, Inc. please contact Sean Lembree at firstname.lastname@example.org or 408-979-8700.
Stock & Option Solutions, Inc. (SOS) is a leading provider of stock plan administration, management and equity consulting services for companies offering equity compensation and benefit programs to its employees. For ten years, hundreds of organizations, from private start-ups to Fortune 500 companies, have relied on Stock & Option Solutions’ expertise for strategic planning, methodologies and skilled resources to build and support the most effective stock administration programs possible. The company offers its services through its People Solutions, Technology Solutions, Strategic Solutions, and TEAM Outsourcing business groups. For more information about Stock & Option Solutions, please visit their website.