MARLBOROUGH, Mass. (May 17, 2006) - Workscape, Inc., experts in outsourced compensation and benefits solutions, today announced details of its record-breaking sales quarter ended March 31, 2006. Workscape finished the quarter significantly ahead of projected forecasts for outsourced solutions and experienced additional revenue generation through expanded existing client relationships.
In addition to winning new clients such as BMW Manufacturing Co., several long-term clients renewed and or expanded their relationship with Workscape, including IBM, as well as one of North America´s largest packaged food companies and the nation´s leading integrated health care organization.
"Our clients recognize and value the expertise we bring to their organizations through our comprehensive outsourced benefits and compensation solutions, as well as our complementary products and services," stated Tim Clifford, president and CEO of Workscape. "Our intense focus in these business-critical areas enables Workscape to deliver the industry´s leading compensation and benefits solutions, which in turn means our customers can improve their HR service delivery, reduce costs and drive higher employee productivity."
Workscape started the quarter with the announcement of the general availability of the newest version of its OneForceTM/Compensation Planner, an award-winning on-demand solutionthat drives higher workforce performance by aligning pay with employee performance. During that same planning cycle that concluded with the first quarter for the majority of its clients, Workscape managed more than $30 billion in total compensation and in excess of $1.5 billion on bonus payments for customers.
The Company also announced its strategic alliance with Asparity Decision Solutions, a leading provider of online decision support and data services for the self-service marketplace. Through this relationship, Asparity and Workscape have teamed to develop powerful employee tools for Workscape´s Outsourced Benefits Administration (OBA) clients.
A number of key personnel announcements were made during Q1, 2006, leading off with the appointment of Kathleen A. Cote to Workscape´s board of directors. As part of the company´s strategic direct sales expansion, Mark Fenner joined as western regional sales manager and David Wigler joined as central regional sales manager for workforce management solutions. Kurt Geckler and Paul Shepardson joined as OBA territory sales managers in the southeast and western regions, respectively.
The Company´s Hosting Security and Architecture teams completed a major upgrade to the Workscape Production Center. The result of this upgrade increased network capacity ten-fold and further improved security via a Layer 7 firewall and in-line intrusion detection system.
Workscape was also recognized by analyst firm IDC, a leading provider of global IT research and advice, as one of the top ten software on-demand vendors. The study[1] evaluated software on-demand providers´ 2004 global revenue, on-demand delivery capabilities and overall characteristics for future success.
Clifford commented, "We´re honored to be included in IDC´s top ten ranking, along with very prestigious global companies such as Microsoft and Salesforce.com." He continued, "Workscape entered this year with great sales momentum and we look forward to making 2006 another record-breaking year for our company."
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 and manager self-service, an employee portal, HR service center, and data center and network management services. Workscape's applications and services are configurable to support each client's unique business processes and are easily integrated into multi-vendor environments to ensure protection of existing technology investments. Workscape's award-winning solutions 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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