Strong Market Momentum from Recent Softscape Innovations Drives Growth Across Company’s Entire HR Product Platform
HRchitect featured Softscape in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems vendors that businesses should consider. Dave Watkins, Softscape’s CEO and Co-Founder appeared on the HRchitect WebMingle on June 19, 2009.
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Softscape, an innovator powering complete people management solutions, today announced a 263% growth in Q2-2010, compared to Q1-2010, with a surge of new business across its global operations. The company attributes this rapid growth to increasing demand specifically for Softscape’s broader and more complete HR technology infrastructure that enables organizations to better manage workforce efficiencies and prepare for business growth as the global economy begins to accelerate.
Softscape delivered sustained business expansion and profit with all global divisions contributing to strong performance year-to-date leading to a record-breaking second quarter, and a 29% overall growth for the first half of the year. The second quarter of 2010 also represented a 92% increase over the same period last year, including a 71% increase in sales for the company’s cloud offering. Net sales rose 94% in the US alone for the first half of 2010, compared to last year. The majority of new customers, nearly 80%, are purchasing multiple software suites at initial contract which represents an increasing trend across the market. The average deal size for the company also nearly doubled, with many multi-million dollar global contracts signed, as more and more organizations recognize the value of a single and complete HR software platform.
The company’s new customers range in size and across diverse industries including Agriculture, Transportation, Business Services, Computer Software, Construction, Energy & Utilities, Food & Beverage, and Manufacturing. New customers have included 7-Eleven, Dave & Buster’s, and JE Dunn, as well as growing partnerships and resellers across the globe such as Ascendis in Romania, Human Dynamics in South Africa, and HMP in Germany.
Softscape also recently announced several new product innovations:
- New People Advisor™ series for real-time view of workforce effectiveness while helping managers make better and more informed decisions.
- Smart Coaching™ to highlight potential workforce problems with embedded expert direction for leaders upon which they can easily act.
- Talent-based Learning Platform with significant new capabilities including new “My Learning” portal, enhanced certification and compliance tracking, new social-based learner views, and enhanced demand management.
- Manager Insight™ with advanced searching and expanded social networking-based user interface spanning entire platform.
- Hiring & Recruiting assessments with Gallup integration to better assess and select top candidates.
- Talent Mobility™ solution to reduce top performer flight by providing improved global visibility and processes for talent rotation.
In addition, newly established efficiency programs across the company’s service and support organizations have also contributed to on-going improvements with a direct positive impact on operating income and profit margins. Operational efficiencies include new methodologies and internal processes for managing new customer on-boarding, system and requirement analysis, implementation and deployment, support and customer care, as well as development efficiencies for rapid product advancements.
“We continue to innovate the industry with groundbreaking developments that are rooted in helping customers today and tomorrow,” said Dave Watkins, CEO and co-founder of Softscape. “Softscape’s continued growth has enabled us to further invest in advancing how organizations can better manage their workforce. Our forward approach, and deep analysis of where this market is heading and how organizations can better navigate the changing economic and workforce conditions, is testament to our on-going dedication to the market and our customers.”
For more information about Softscape’s solutions, please visit http://www.softscape.com.
Matt Lafata, HRchitect
