LIVONIA, MI--(Marketwired - Feb 19, 2014) - WorkForce Software, the leading provider of workforce management solutions for organizations with complex labor policies and stringent compliance demands, today shared details of the exceptional growth the company experienced throughout 2013. Employers seeking more comprehensive and flexible workforce management solutions increasingly see WorkForce Software as the vendor of choice, spurring record demand for its EmpCenter and RosterLive suites.
"Our 2013 performance demonstrates that our solutions -- and the people delivering them -- are best equipped to address the more stringent and sophisticated demands being placed upon global employers," stated Kevin Choksi, co-founder and CEO of WorkForce Software. "With a focus on addressing strategic operational and compliance needs, capturing granular labor activity and cost data, and driving continuous improvement, WorkForce Software delivers tangible and substantial return on investment for our clients."
Strong Sales Growth and Client Wins
Over the past year, WorkForce Software continued its trend of annual growth in every measure, from number of clients to revenue generated. The company markedly improved its year-over-year financial performance, reporting an increase in revenue of 66 percent versus 2012. Accelerating demand for workforce management in the cloud fueled this historic growth, and cloud revenues doubled on a year-over-year basis. Record sales also contributed to the landmark annual results, as total new bookings rose by 46 percent over the prior year.
The company's EmpCenter suite gained further traction as the most trusted workforce management platform for large and multinational employers. EmpCenter Time & Attendance, the industry's most configurable time and attendance solution, is often the foundation for a global workforce management strategy. Yet, employers also turned to EmpCenter's robust leave management capabilities in record numbers. Absence Compliance Tracker (ACT), available as a stand-alone solution or as an integrated component of the EmpCenter suite, was included in fully half of all new deployments in 2013.
A sampling of new clients includes several regional bank firms in Canada and the U.S., two of North America's largest property and casualty insurers, and category leaders in numerous manufacturing sectors, including nutritional supplements, plumbing suppliers, advanced robotics, and footwear and apparel.
International Expansion
WorkForce Software's considerable growth in 2013 was also spurred by global expansion. The company made significant inroads in the Australia and New Zealand region by acquiring RosterLive, a provider of cloud-based workforce management solutions for small and medium-sized businesses (SMBs). The acquisition not only expanded WorkForce Software's market reach into the burgeoning SMB space, but also provides the company with a larger footprint in APAC to accelerate sales, support and services related to the EmpCenter suite. WorkForce Software also expanded their office in the U.K., signing one of the largest grocery retailers in England, and established data centers in Europe and Australia during the year.
Awards and Recognition
WorkForce Software received numerous awards highlighting the company's strength and leadership position in the software space in 2013, including:
- Inc. Hire Power Awards - WorkForce Software was recognized for the second consecutive year in this annual ranking of private businesses and their role in job creation. The company was ranked among the top three private business job creators in the state of Michigan and as one of the top ten job creators in the software industry.
- Detroit Free Press 2013 Top Workplaces - The company earned a coveted "Top Workplaces" designation for the second consecutive year, highlighting its work environment, team culture and opportunities for ongoing employee development.
- Inc. 500|5000 - For the seventh consecutive year, WorkForce Software was listed among the Inc. 500|5000, an exclusive ranking of the nation's fastest-growing private companies, based on percentage revenue growth.
Positioned for Future Growth
"Over the past year, WorkForce Software made substantial investments in our technology, talent and partnerships to bring our automated workforce management solutions to more organizations across the globe, and we have already seen tremendous results," said Choksi. "We look forward to building on this momentum, as we plan to further extend our reach across industries and bring our solutions to new regions in 2014."
Mollie Lombardi, vice president and principal analyst, Human Capital Management, Aberdeen Group, commented, "Our research shows that today's marketplace requires a more agile and flexible workforce, and businesses need more accurate workforce data to respond to rapidly changing business conditions and better manage labor spend. Standardization, automation and integration of workforce management processes is critical to meeting these challenges, and WorkForce Software's clients are using their solutions to make all three a reality through time and attendance, scheduling and absence management."
Jason Chester, CEO and director of Research for Infogencer, a UK-based IT analyst organization, said, "The Workforce Management Solutions market is becoming one of the fastest growing sectors of the Enterprise Technology market. This growth is largely driven by demand from organizations who recognize the value which can be leveraged from improving the effectiveness of their workforce management processes and data. Not only does the workforce represent one of the single biggest areas of their operating costs, it is also fundamental to the successful delivery of their products and services to market."
Michael Specht, senior analyst for Navigo Research, an Australian analyst firm, commented, "Organizations require solutions that go beyond just matching the right employee to the right job at the lowest possible cost. They need to consider fatigue management, customer demand, individual work preferences and qualifications to ensure the most optimized allocations take place. Combined with contextual analytics, organizations are now looking for more advanced platforms for workforce management. Today's workforce management software not only creates more efficient business operations but also a more engaged workforce."
About WorkForce Software
WorkForce Software is the leader in workforce management software for organizations with complex policies and compliance concerns. Through its EmpCenter® and RosterLive workforce management suites, WorkForce Software enables organizations to fully automate time and attendance processes, effectively manage employee absence and leave, optimize staff scheduling, gain real-time visibility into labor costs and productivity, and mitigate the risks associated with employee fatigue. Hundreds of leading organizations rely on WorkForce Software solutions to streamline compliance, reduce labor costs, provide more intuitive tools to their employees, and achieve strategic HR on a global basis.
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