Waltham, MA (March 14, 2006) - Authoria, Inc., the leader in strategic talent management solutions, today released details of its outstanding financial performance in fiscal year 2005. Authoria remained profitable in 2005, with revenue growth of 62 percent over the previous fiscal year - a growth rate more than triple that of the talent management market as a whole, as measured by leading analysts.
"Revenue growth that´s three times faster than that of the market in which we compete is another clear indicator of Authoria´s leadership in strategic talent management," said Tod Loofbourrow, president and CEO of Authoria. "We have continued to strengthen our capabilities in employee communications, performance management, succession planning, and compensation management, and have successfully integrated Authoria RecruitingTM into AuthoriaR 2006. As a result, we now have the most complete and tightly integrated total solution for strategic talent management on the market."
Paul Hamerman, Vice President, Enterprise Applications at Forrester Research, estimated in a January 2006 report that the performance and talent management segment is growing at 20 percent annually (1). Likewise, Jason Corsello, Business and IT Services Program Manager at Yankee Group, identified the talent management sector as "one of the highest growth markets within the enterprise application market," growing at 20 percent per year, in a January 2006 report (2).
"Among the emerging talent management vendors, Authoria has the largest base of Fortune 1000 customers and has defined itself as a strong alternative to SAP and Oracle," Corsello wrote in his report.
Authoria´s strong revenue growth in 2005 was fueled by contracts with 47 enterprise customers - organizations with more than 5000 employees. More than half of the new contracts were with new customers.
New enterprise-class customers for 2005 included:
- Aon Consulting
- Aetna, Inc.
- Family Dollar, Inc.
- Iron Mountain Inc.
- The Kroger Co.
- Kimberly-Clark Corp.
- Lazard LLC
- SABMiller plc
In October 2005, Authoria won the industry´s first Integrated Performance & Compensation Management Shootout, at the 8th Annual HR Technology Conference and Exposition in Chicago. The 350 human resources professionals in attendance at the Shootout chose Authoria as the winner after witnessing live demonstrations from four competitors, which also included Recruitmax, SuccessFactors and Workstream.
Authoria has seen an acceleration in its on-demand delivery model, with 100 percent of new customers in the fourth quarter implementing Authoria´s products in this way. At the end of 2005, Authoria On-Demand served approximately 4 million employees, making it the most widely deployed on-demand application in the software industry.
"The strategic talent management market is clearly a market to watch," said Richard Davis, research analyst at Needham & Co. "Authoria´s tremendous growth and product breadth identify it as an early leader within this growing space."
(1) Paul Hamerman, Forrester Research: "HR/HCM Applications: Strategic Processes Move to the Forefront," Jan. 23, 2006.
(2) Jason Corsello, Yankee Group: "Yankee Group Identifies Five Talent Management Vendors to Watch in 2006," Jan. 9, 2006.
About Authoria
Authoria is the leading provider of strategic talent management solutions, helping employers increase the productivity of their workforce in driving their business strategy forward. In October 2005, Authoria beat three leading competitors at the HR Technology Conference Performance & Compensation Shootout. In addition, Authoria´s products have been awarded Top Product of the Year by Human Resource Executive magazine seven times, more than any vendor in the history of HR technology. Authoria 2006 includes recruiting management, performance management, compensation management, succession planning, and benefit and policy communication, while providing just-in-time knowledge and coaching for managers and employees. Authoria´s award-winning solutions have proven successful for more than 300 large employers, representing more than 10 million employees. Customer companies include Boeing, Pfizer, Reuters and Unocal. For more information, visit www.authoria.com.