MARLBOROUGH, Mass. (February 21, 2006) ¾ Workscape, Inc., a proven provider of outsourced benefits and workforce management solutions, today revealed details of its record-breaking year ended December 31, 2005. Sales were up almost 25 percent over the prior year with the Company signing and renewing a significant number of enterprise customers.
In the fourth quarter of 2005, the world's largest food and beverage company joined Workscape´s growing roster of clients that are utilizing the company´s outsourced benefits administration solutions. In addition to this noteworthy signing, a system of healthcare institutions encompassing 15 thousand employees and retirees, as well as a leading provider of insurance and employee benefits also renewed their existing relationships with Workscape, continuing to use the company´s benefits administration solutions.
These renewal agreements come on the heels of recently announced significant new benefits customer wins and relationship expansions that include industry leaders such as Alltel, AmSouth Bank, Perot Systems, Texas Health Resources, and other major organizations such as one of the largest grocery store chains in the nation, a large travel industry company, a leading provider of health care and related benefits, and a division of a global electronics company.
Tim Clifford, President and CEO of Workscape, said, "We are fortunate to start this year powered by the momentum of an outstanding 2005. Last year´s success further proves that our award-winning product line of outsourced benefits and workforce management solutions continue to transform our clients´ HR services, giving them the freedom to focus on their core business. The increasing number of new clients that have entrusted Workscape to provide the right solutions to drive lower costs and higher workforce performance further validates our capabilities and sets us on the course for another record-breaking year."
Earlier this month, Workscape announced the general availability of OneForceTM/Compensation Planner 6.0. Designed to help organizations deal with the complexities of enterprise compensation management, OneForce/
Compensation Planner is an on-demand solution that drives higher workforce performance by aligning rewards with employee performance. This latest version includes a new user interface as well as enhanced international capabilities, and features more scalable technology with a zero footprint on the client side. Part of the workforce management suite of solutions, OneForce/Compensation Planner is currently utilized by the world´s largest developer and manufacturer of advanced information technologies, which expanded its relationship with Workscape this year. In addition, a large San Francisco, Calif.-based bank, a global defense company, and an international confectionary and beverage company also expanded their relationships with Workscape in 2005.
Clifford commented, "2005 was marked by numerous key events including record-breaking sales, the relocation of our corporate headquarters, awards such as Forbes´ Best of The Web, and the earning of certifications including CMMI and TruSecure. We look forward to another great year, working closely with our clients to help them transform the delivery and adoption of HR services across the enterprise."
About Workscape
Designed for the workforce, Workscape's solutions transform the delivery and adoption of HR services across the enterprise to maximize ROI and enable a higher-performing organization. An innovator in HR self-service, Workscape provides a full range of outsourced HR solutions including benefits administration, compensation management, performance management, employee self-service and manager self-service, as well as an employee portal.
Workscape's applications and services are configurable to support each client's unique business processes, easily integrated into multi-vendor environments to ensure protection of existing technology investments, and have been embraced by millions of employees worldwide.
For more information, visit the company website at www.workscape.com or call (888) 605-9620.
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