Company Reports Strong Second Quarter Results; Builds Upon Record-Setting 2011 Performance
LIVONIA, MI--(Marketwire - Aug 21, 2012) - WorkForce Software, the leading provider of workforce management solutions for organizations with complex labor policies and stringent compliance demands, today announced details of the strong revenue growth it experienced during the second quarter of the year. During this quarter, the company built upon rapid momentum gained during its first quarter by adding several large clients representing a number of key industries, opening a new office, hosting a highly successful user conference and releasing the latest iteration of its EmpCenter® Suite, WorkForce Software's award-winning workforce management platform.
In the second quarter, WorkForce Software was awarded several new contracts from large enterprises seeking a more comprehensive approach to workforce management through its industry-leading, SaaS solutions. The new contracts represent significant wins for the company as it continues to extend adoption of EmpCenter among multinational corporations, healthcare organizations, academic institutions and other large and diverse employers. New clients added in the second quarter include:
Through the first half of calendar 2012, WorkForce Software bookings were up 27% versus the same period in 2011. Last year, WorkForce Software posted the most rapid growth and most significant financial gains in the 13-year history of the company. The double-digit growth reflected during the first half of 2012 highlights the accelerating growth and adoption of EmpCenter solutions. Furthermore, the company also maintained a client retention rate of 97%, indicating strong, ongoing customer satisfaction with their investment.
"Based on the size and number of contracts won in the second quarter, combined with the new clients added in the first quarter, the first half of 2012 has been incredibly successful for us," said Kevin Choksi, WorkForce Software CEO and co-founder. "As more organizations recognize the value of EmpCenter in achieving their strategic workforce management goals, we're projecting strong and significant growth."
"Today's HR professionals are being asked to take on increasingly complex business and compliance issues, as more companies make use of part-time, temporary and contingent labor to fill key employment gaps," said Mollie Lombardi, research director, Human Capital Management for Aberdeen Group. "This new labor mix has renewed interest in workforce management as more than just HR automation, but truly a source of critical business information, and an enabler of organizational performance."
New Features Added to Award-Winning WorkForce Management Platform
A major part of WorkForce Software' growth strategy is constant innovation and enhancement of its workforce management solutions. In the second quarter, the company released EmpCenter 9, the latest iteration of its award-winning workforce management platform. For this release, the company added several new features and enhancements to its time & attendance, scheduling, absence management and fatigue management solutions.
Key additions to EmpCenter 9 include:
"As demand for our workforce management solutions continues to expand, it is crucial that we continue to drive innovation so HR, payroll and operations professionals can rely on EmpCenter to enhance their workforce processes," said Choksi. "To that end, we are committed to continually improving upon our core platform while adhering to our central tenets of openness, configurability and compliance-minded solutions."
New Development Center in Ann Arbor
As a sign of WorkForce Software's continued growth and anticipated expansion, the company recently opened a Technology Center of Excellence in Ann Arbor, Mich. The new facility will work in close collaboration with WorkForce Software's existing research and development team and continue the company's track record of technology innovation. WorkForce Software has significantly expanded its R&D team to drive more innovation to customers and plans to increase its R&D investments by 50% over the next 12 months.
Vision 2012 User Conference
Also key to the company's rapid growth is its commitment to building closer relationships with both its existing users and prospective clients. During its successful Vision 2012 user conference, the company brought together current and potential EmpCenter users to network with the WorkForce Software team, share ideas and strategies for workforce management, and to learn from other industry thought leaders.
"Vision 2012 played a clear role in helping us achieve several client wins in the second quarter, by giving prospective clients that chance to interact with us and our current clients and learn how our solutions can optimize their workforce management procedures," Choksi commented. "It also gave us insight into what our current and future clients expect, so we can work to further improve our offerings and ensure continued success throughout the second half of the year."
For more information, visit www.workforcesoftware.com or contact us at (877) 493-6723.
About WorkForce Software
WorkForce Software is the leader in workforce management software for organizations with complex policies and compliance concerns. Its EmpCenter® suite enables organizations to fully automate time & attendance processes, effectively manage employee absence and leave, optimize staff scheduling, gain real-time visibility into labor costs and activities through robust analytic and reporting tools, and mitigate the risks associated with employee fatigue across the enterprise. Hundreds of leading organizations, including the University of California, Activision Blizzard, AMF Bowling, Duke Energy and BBVA Compass, rely on EmpCenter to streamline compliance, reduce payroll costs, provide more intuitive tools to their employees, and achieve strategic HR on a global basis.
Copyright © 2012 WorkForce Software, LLC