Genesys 2004 Performance Highlights Financial Strength

Despite a still sluggish marketplace, Genesys business prospered in 2004 as demonstrated by a 142% increase in bookings for its outsourced solutions in 2004 over 2003 and the largest 4^th quarter growth in company history.  The company’s proven ability to attract marquee customers validates that its outsourced offerings are specifically designed to meet customer needs and to deliver a best-in-class integrated approach to payroll and a full range of human capital management solutions.

“Companies focused on rapid growth and revenue generation, with an emphasis on cost reduction, can benefit from the predictable costs provided by Human Resource Outsourcing,” said Lisa Rowan, program manager for human resources management at IDC.  “Vendors that can offer these advantages while providing a customer-centric approach are separating themselves from the pack.”

Genesys Implements Innovative Channel Strategy

During 2004, Genesys introduced its new nationwide channel partner program -- the HRO Partner Program.  Designed for private label resellers, value added resellers and solution partners, the program provides the robust PeopleComeFirst™ suite of web-based HR applications and value-added offerings for organizations of all sizes. The HRO Partner Program was initiated to offer Genesys channel partners an opportunity to complement their offerings and secure predictable and recurring revenue opportunities with an easy-to-understand subscriber-based business model.

According to analysts, the outsourced 2004 U.S. human capital-related services market is $24 billion, which is projected to grow at a compound annual growth rate of 8-12 percent over the next five years[1]. By instituting a reseller program, Genesys is better poised to take advantage of the growing outsourcing market. In fact, since instituting the indirect channel strategy, Genesys has attracted nearly 15 partners including Mitchell Humphrey, Oryel, Moresource, DDC HRO and William Gallagher Associates. 

Genesys Offers Value Added Services
Also in 2004, Genesys announced the enhanced integration of three core human capital services as part of its PeopleComeFirst  HRO offering to include COBRA management, pre-employment screening and flexible spending accounts.

COBRA management provides Genesys clients with anytime access to a sophisticated web-enabled COBRA administration platform and with pre-employment screening services, customers can easily conduct online background checks and other screening services to reduce hiring risks. Additionally, with flexible spending accounts, customers have access to FSA enrollment, online account review for employees and employers, on demand statements, web-based queries and reporting, direct deposit of employee reimbursement and more.

By providing these additional services as part of the outsourcing model, Genesys enables customers to create efficiencies in their HR departments, which ultimately increases productivity and their ability to focus on strategic initiatives.

Genesys Corporate Milestones
Genesys achieved a number of business milestones during last year including appointing Arlene Hammel, as vice president of marketing, David Ladner as vice president of sales and business development and Priscilla DiLuzio as vice president, outsourcing services, to the management team, strengthening the company’s customer-driven service focus. 

Adding to the success of 2004, Genesys continues to increase its strong customer base. Some of its new customer signings and extended agreements with existing customers include:

• The International Brotherhood of Teamsters, a union representing more than 1.4 million hardworking men and women throughout the United States and Canada.
• West Virginia University Hospitals, a 450-bed teaching institution that includes Ruby Memorial Hospital, WVU Children's Hospital, Chestnut Ridge Hospital (behavioral medicine), the Jon Michael Moore Trauma Center, Rosenbaum Family House and the Mary Babb Randolph Cancer Center.
• Madison County, Illinois, has a population of 258,941 and is named for James Madison, statesman and fourth president of the United States.
• The Government of Newfoundland and Labrador, is the most eastern province in Canada and Newfoundland is the youngest Canadian province, joining Canada in 1949.
• xwave, an Aliant Company, is a full-service business-solutions provider that serves clients through three service lines: systems integration and software engineering, infrastructure services and product fulfillment.
• Lincoln Electric System (LES), a city-owned utility to provide reliable, affordable electric service in and around Nebraska's Capital City.
• City of Raleigh, North Carolina, is the largest city in the metropolitan area known as the Triangle, which has a population fast approaching the one million mark.