Workscape Recaps Banner Year; 2007 Record Sales Growth Attributed to New Clients and Strong Product Momentum
Company's Unique Leadership Position in Talent Management and Benefits Administration Categories Further Supported by Numerous Successful Implementations, Strategic Relationships and New Product Offerings
MARLBOROUGH, Mass., March 6 -- Workscape, Inc., a leading provider of outsourced benefits and talent management solutions, shared details of its 2007 sales results, which included new and renewed client relationships, strategic partnerships, enhanced product offerings and entry into new market segments. As early as the third quarter of 2007, Workscape had already doubled its 2006 sales, giving the company significant momentum towards making 2007 a record-breaking year.
Workscape's talent management and employee benefits solutions include award-winning SaaS-based outsourced benefits administration (OBA) and talent management products. These scalable and configurable solutions share a common technology platform, can be readily integrated with existing IT investments and can be purchased standalone or in conjunction with the company's high- touch outsourced business process services. Since its inception in 1999, Workscape has earned the trust of many of the world's leading companies and currently serves millions of employees in over 180 countries.
According to industry analysts, more than 55% of businesses will have deployed at least one software-as-a-service application by year's end and that by 2012 at least 30% of all new business software will be delivered using the SaaS model. Workscape's leading on-demand solutions have already earned the recognition of such analysts, as the company is currently ranked 16th out of the 30 providers listed in terms of global software revenue associated with SaaS by IDC.
Workscape Welcomes Top-Tier Clients
New clients utilizing Workscape's award-winning compensation management solution include one of the world's largest management consulting technology services and outsourcing companies, the Canadian unit of a global network of professional firms that provides audit, tax and advisory services, a global leader in consumer electronics, domestic appliances and personal care, lighting, medical systems and semiconductors; and one of the world's largest financial services providers to institutional investors. In conjunction with IBM's consulting practice - a long-standing relationship for Workscape - Workscape was awarded American Airlines' compensation management engagement.
Renewing their decision to rely on Workscape Compensation Planner were existing clients Cadbury Schweppes - which is leveraging the solution to support the compensation management requirements of their Latin American-based employees, as well as their North American and U.K.-based workforces - a world-leader in mobile communications; a packaged food company; a worldwide, research-based pharmaceutical company; Baker Hughes; Quintiles Transnational; Union Bank of California; Textron; and Ahold, the international group of quality supermarkets and hypermarkets.
In 2007, Workscape's outsourced benefits administration offerings were selected by a wide variety of organizations, including AGL Resources, Advantage Sales and Marketing, Gentiva, JohnsonDiversey, McCain Foods, MedStar Health, Republic Services and a leading global retailer of books, music, movies, and gift and stationery items. Renewing or upgrading their selection of Workscape's outsourced benefits administration solutions were Saint Barnabas Health Care System; PPL; Pilkington; Tyco International; Regions Financial Corporation; Compass USA; the world's largest retailer of natural and organic foods; and a company that designs and markets an extensive range of branded women's and men's apparel, accessories and fragrance products.
Long-term outsourced benefits administration client Autodesk expanded its relationship with Workscape to implement the company's compensation solution in 47 countries.
Strategic Partnerships with WebMD and Asparity Bring Added Value to Outsourced Benefits Administration Customers
Workscape previously teamed with Asparity Decision Solutions, a leading provider of online decision-support and data services for the self-service marketplace. Asparity's technology seamlessly integrates with Workscape's existing self-service solutions, giving clients' employees the tools needed to make better healthcare decisions that lead to lower benefits costs.
In 2007, Workscape continued its commitment to putting information in the hands of the consumer adding an alliance with WebMD, the leading provider of healthcare information. The result provides an integrated solution that helps Workscape's customers' employees make more informed benefit, treatment and provider decisions.
New Software Products, New Markets, New Solutions
At the annual WorldatWork Conference, Workscape unveiled its newly designed Performance Manager solution intended for large, multi-national enterprises. In October 2007, Workscape brought the power of this offering - as well as its compensation solution - to mid-sized companies with Workscape Compensation Express and Workscape Performance Express. Designed to help managers quickly and easily make smarter performance-driven compensation decisions and reward employee performance these solutions comprise an integrated Web-based talent management suite that handles all elements of compensation and performance on Workscape's market leading SaaS platform.
In December 2007, Workscape launched Workscape Virtual Hosting. By configuring and packaging its award-winning enterprise products in a controlled environment and deploying an appliance-based solution in either Workscape's global data centers or behind a client's firewall, this virtual methodology creates a ground-breaking new offering from Workscape specifically intended for clients whose IT policies require that applications to be hosted inside their own networks.
Market Momentum Fuels Organizational Growth
Tim Clifford, Workscape's president and CEO, said, "2007 was the year that Workscape took a distinct leadership position in the highly competitive HR vendor marketplace. Our performance against our milestones was noteworthy, leading to a long list of significant product capabilities that positively impacted our clients. Our customers continue to give us feedback that Workscape is adding substantial value to their organizations."
He continued, "I'd like to also thank the Workscape team, which grew by double-digit numbers in 2007. Our strong commitment to embracing the latest advancements such as agile methods of software development, coupled with our focus on being an employer of choice through our corporate social responsibility programs, has helped us attract the finest employees in the business. They've played an instrumental part in Workscape's record year."
In recent Knowledge Infusion research, Jason Corsello, vice president of the Center of Excellence at Knowledge Infusion, shared, "We attribute the growth of multiple module purchases to organizations looking to break down siloes between business processes and leverage data and information across HR's functional domains. Based on current demand and robust growth among talent management vendors, Knowledge Infusion expects the talent management market to surpass $5 billion by 2010."
About Workscape Outsourced Benefits Administration (OBA)
Featuring powerful, easy-to-use technology, Workscape's OBA offerings include benefit manager analytics for plan management, rapid plan design change management, and an integrated WebMD content and application to inform employees of personal health and benefit decision options. At the heart of Workscape OBA is a 24x7 U.S.-based HR Service Center staffed by experienced benefits professionals.
About Workscape On-Demand Performance and Compensation
Workscape's award-winning, multi-lingual compensation solution helps companies streamline compensation cycles, ensure consistency and fairness, and empower managers to pay-for-performance while adhering to corporate guidelines and budgets. The company's performance management solution automates the performance management process and fully aligns goals, competencies, results and compensation throughout the organization. Both products are delivered via the software-as-a-service (SaaS) model, can be deployed individually or fully leverage Workscape's integrated Web-based platform and are now also available in Express versions for mid-sized companies.
About Workscape
Workscape is a leading provider of business-critical HR solutions that have enabled hundreds of organizations to manage their two largest workforce expenditures: employee benefits and performance-driven compensation. Workscape's offerings share a common technology platform, can be readily integrated with existing IT investments, serve millions of employees, and are scalable and configurable to meet the distinct requirements of organizations ranging from hundreds to hundreds of thousands. One client uses the company's award-winning multi-lingual compensation solution to compensate hundreds of thousands of employees across 70 countries. Workscape's outsourced benefits administration offerings are backed by U.S.-based 24X7 support for managers and employees on policies and processes. For more information about Workscape, visit www.workscape.com or call (888) 605-9620.
Source: Workscape, Inc.
CONTACT:
Jeanne Achille of The Devon Group
+1-732-224-1000, ext. 11
jeanne@devonpr.com, for Workscape, Inc.
Web site: www.workscape.com/
