StepStone Solutions closes MrTed acquisition – expands capability to address global talent acquisition market…from StepStone

August 27, 2010

 

HRchitect includes StepStone in our list of top Talent Acquisition Systems and Top Talent Management Systems vendors that businesses should consider. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

StepStone Solutions, a global leader in Software-as-a-Service (SaaS) Talent Management solutions, has completed the acquisition of privately-owned e-recruitment software provider MrTed. The acquisition adds over 130 customers to StepStone Solutions’ existing customer base of 1,500 global businesses, including names such as France Telecom, Heineken, SGS, Alexander Mann Solutions, Wolters Kluwer, and Randstad. The acquisition accelerates StepStone Solutions’ global growth, extends its product set and widens its existing SaaS capability. For more information see www.stepstonesolutions.com

MrTed’s highly regarded MrTedTalentLink product, a fully SaaS-based offering, is recognised for a high level of innovation and flexibility in its architecture, which allows it to be rapidly configured to support individual user requirements within the context of a standardised, SaaS-based corporate environment.  As such it delivers both high levels of  user satisfaction and operational efficiency while remaining cost-effective to deploy and manage in the largest, multi-national enterprise talent acquisition projects. MrTedTalentLink has earned top marks from industry analysts. Gartner Group,  positioned MrTed in the “Visionaries” quadrant of its 2009 Magic Quadrant for e-Recruitment Software.  In its 2009 and soon-to-be-published 2010 studies of talent acquisition systems, Bersin & Associates highlights MrTedTalentLink’s advanced cloud architecture, application portability and dynamic user interface.

“Our immediate experience of working with the MrTed team, customers and products has been very rewarding, with a strong similarity in our cultures and processes,” said StepStone Solutions CEO, Matthew Parker. “The increase that MrTed brings in many areas of capability, combined with the global reach, customer base and market expertise of StepStone Solutions, give us an unmatched ability to serve customers of all types and sizes in every market including Europe, Asia-Pacific and the US.”

“This acquisition makes absolute sense,” said Josh Bersin, president of Bersin & Associates, a leading research and advisory firm focused on enterprise talent management and learning.  “Combined, these two companies have significant global market share.  We estimate that the talent acquisition market will continue to grow by about 10% over the next year, with much of that growth coming from global expansion.  Stepstone Solutions is well positioned to capitalise on this opportunity.”

The MrTedTalentLink product will continue to be developed, marketed and fully supported under the ownership of StepStone Solutions.

“I’m delighted that MrTedTalentLink, our staff and customers have found such a great home under the StepStone Solutions brand,” said Jerome Ternynck, MrTed’s former CEO, who will continue to work with StepStone Solutions in an advisory capacity. “Our customers should be particularly pleased as this acquisition will enhance the value they will get from their investment in MrTedTalentLink through the greater resources of a major player like StepStone Solutions.”

For more information please visit www.stepstonesolutions.com
Matt Lafata, HRchitect

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ADP Completes Its Acquisition of Workscape, Inc…from ADP

August 26, 2010

 

Expands and Enhances Benefits and Talent Management Services Portfolio with Market-Leading Solutions Serving Large, Complex Organizations

If you are looking for a new Talent Acquisition System, Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

ADP, a leading provider of HR, payroll and benefits administration services, today announced that it has completed its acquisition of privately-held Workscape, Inc., a premier provider of integrated benefits and talent management solutions and services.

Based in Marlborough, Massachusetts, with approximately 400 employees, Workscape serves a broad client base, including numerous Fortune 250 companies, and provides solutions to more than 3.5 million users with services deployed in over 180 countries, 48 currencies and 70 languages. Workscape’s core products are considered leading technologies for the markets they serve, and the company’s Total Rewards approach has consistently helped organizations to achieve the highest return on their greatest workforce expenditures: healthcare benefits and employee compensation. A Total Rewards strategy enables organizations to efficiently connect and manage key HR processes (benefits, compensation and performance) to elevate individual, manager and financial efficiency.

“An integral part of ADP’s growth strategy is expanding our benefits and talent management portfolio and the strategic acquisition of a well-established player such as Workscape represents a significant step in that effort,” said Carlos Rodriguez, President of ADP National Account Services and Employer Services International. “The addition of Workscape’s premier benefits and compensation management solutions, its strong brand presence and stellar roster of multi-national clients – coupled with our relationship with Cornerstone OnDemand, a leader in talent management software – will enable ADP to deliver market-leading solutions for large, complex organizations while helping drive the continued growth of our business.”

“The strategic and cultural fit between ADP and Workscape is compelling, and will be extremely complementary in terms of services. We’re confident that the combination of our organizations will create greater value for our mutual clients and deepen our strong relationship with these organizations,” added Rodriguez. “We look forward to working closely with Workscape’s dynamic leadership team to ensure a seamless integration.”

Tim Clifford, co-founder, President and CEO of Workscape commented, “Since our founding in 1999, Workscape’s track record of boosting employee satisfaction, controlling HR costs, and driving higher performance across enterprises has enabled us to achieve strong growth while earning the trust of our valued customers. By joining ADP, one of the world’s most admired companies, we are maximizing our opportunity to play an even more impactful role in expanding the benefits and talent management services marketplace.”

For more information on ADP, please visit www.adp.com
Matt Lafata, HRchitect

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Kenexa Ranked as a Top Global Market Leader in HRO Today’s RPO Baker’s Dozen…from Kenexa

August 12, 2010

 

Recognized for Managing a High Number of RPO Programs in Multiple Global Regions, including South America

HRchitect featured Kenexa in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and top Talent Management Systems vendors that businesses should consider. Ron Hanscome, VP of Product Strategy with Kenexa appeared on the HRchitect WebMingle on June 26, 2009 and Derek Bluestone, VP Product Marketing appeared on June 17, 2010. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

Kenexa (NASDAQ:KNXA), a global provider of business solutions for human resources, has been ranked as a top global market leader in HRO Today magazine’s annual RPO Baker’s Dozen. The results were based upon an annual survey completed by more than 600 HR executives who are current buyers of RPO services. RPO providers were rated on the breadth of their service, the size of the programs they manage and the quality of service provided. Kenexa has been on the Baker’s Dozen since the ranking’s inception six years ago. 

Kenexa holds a unique position among RPO vendors. The company has more than 100 psychologists and researchers on staff and has assessed more than 18 million individuals in hundreds of job families. Kenexa has also surveyed more than 10 million employees in 88 languages.  As a result, the company has the normative job data and solid methodologies to deliver a higher quality candidate than its competitors.

“Kenexa offers the most comprehensive global RPO solutions in the marketplace by leveraging our deep domain expertise in sourcing, employment branding, recruitment technology and employee assessments,” said Phil Stewart, RPO Practice Leader, Kenexa. “We’re honored that the buyers who were surveyed for the 2010 RPO Baker’s Dozen chose to rank us as a top global market leader. We’re the only RPO vendor with an active presence on six continents plus an established foothold in the South American market through our team in Buenos Aires.” 

According to Elliot Clark, CEO of SharedXpertise, publishers of HRO Today magazine, said, “Kenexa’s performance on this year’s HRO Today RPO Baker’s Dozen Customer Satisfaction Survey demonstrates their strong commitment to superior service. Kenexa also showed as one of the top performers on the Global Market Leaders list with excellent overall scores and a high number of RPO programs in multiple global regions.”

For more information on Kenexa, please visit www.kenexa.com
Matt Lafata, HRchitect

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SuccessFactors Announces Record Second Quarter Fiscal 2010 Results…from SuccessFactors

August 7, 2010

 

HRchitect featured SuccessFactors 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. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

SuccessFactors, Inc. (Nasdaq: SFSF) today announced results for its second quarter fiscal 2010 which ended June 30, 2010.

“In Q2 2010, SuccessFactors again delivers strong organic growth. Cash-profitability continues to expand with cash flow from operating activities up 625% year-over-year. Over, the last 5 quarters, SuccessFactors grew revenue organically 31% year-over-year on average. The organic revenue growth rate was up sequentially between Q1 and Q2, 2010 from 24% to 27%. Billings grew 35% for the best second quarter ever of $52.7 million. The growth is fuelled by bigger purchases, and more users from both new and existing customers, in all of the market segments; Enterprise, Medium, Small, and all geographies,” said Lars Dalgaard, founder and CEO for SuccessFactors.

“Q2 had more than 50% of new sales coming from existing customers. With customers’ proven interest in buying more of our secure, scalable, easy-to-use platform, we continue to expand it. New acquisitions closed in July include Inform – http://www.informimpact.com/ – that arms CEOs, CFOs and human resource professionals with actionable, high-value insights to perform better, gain competitive advantage and lower costs through business analytics and workforce planning; and CubeTree- http://www.cubetree.com/ – Enterprise Social Software that improves execution across the enterprise, and decreases silos and bureaucracy. SuccessFactors launched organically-built Calibration, Goal Execution and a substantial release on BizX Recruiting,” Dalgaard continues. “In the first half of 2010, SuccessFactors has launched new-to-market products and acquired unique strategic teams and products that, combined with our existing applications, offer the global market a productivity suite of cloud business execution applications, never seen before, that can take only weeks to deploy. We believe we have an unmatched offering targeting a very large greenfield market.”

Results for the second quarter fiscal year 2010:

  • Q2 FY10 Revenue: For the quarter ended June 30, 2010, revenue was $46.8 million, compared to the company’s prior guidance of $45.0 million to $45.5 million, and compared to $36.9 million in the quarter ended June 30, 2009, an increase of approximately 27% year-over-year and an increase of 7% sequentially from Q110.
  • Q2 FY10 Operating Profit: For the quarter ended June 30, 2010, non-GAAP operating profit was $381,000. Non-GAAP operating profit excludes the effect of approximately $4.5 million in stock-based compensation expense for the quarter ended June 30, 2010.
  • Q2 FY10 Total Deferred Revenue: Total deferred revenue as of June 30, 2010 was $191.8 million, up approximately 3% sequentially from $185.9 million at March 31, 2010 and up approximately 28% year-over-year from $149.8 million at June 30, 2009.
  • Q2 FY10 Cash Flow Generated from Operations: For the quarter ended June 30, 2010, cash flow generated from operating activities was $6.8 million, up approximately 625% from $939,000 for the quarter ended June 30, 2009.
  • Q2 FY10 Net Income (Loss) per Common Share: On a GAAP basis, for the quarter ended June 30, 2010, net loss per common share, basic and diluted, was $(0.06). Non-GAAP net income per common share, basic and diluted, was $0.00, which excludes approximately $4.5 million in stock-based compensation expense, compared to $0.01 in Q110 which excluded approximately $5.0 million of stock-based compensation and breakeven at $0.00 in Q209 which excluded approximately $2.4 million of stock-based compensation. GAAP and non-GAAP net income (loss) per common share calculations for the second quarter of 2010 are based on 72.6 million weighted average shares outstanding.

Additional Second Quarter Fiscal 2010 Highlights:

  • SuccessFactors entered into a definitive agreement to acquire CubeTree, Inc. a visionary leader in the rapidly growing social business software category. The acquisition strengthens SuccessFactors’ core Business Execution Software strategy and directly align with its mission of helping companies get work done every day.
  • SuccessFactors announced that it has signed its first joint customer, The McGraw-Hill Companies, with Inform. McGraw-Hill is the first joint customer and chose SuccessFactors’ Business Execution (BizX) Suite to work strategically with Inform’s workforce planning and business analytics solutions to execute against company objectives, improve company-wide visibility and drive maximum business results.
  • SuccessFactors announced that Jetstar Airways selected the entire BizX Software Suite to improve both the employee experience and the customer travel experience. Jetstar is a low fares leader in the Asia Pacific region, operating to almost 60 destinations across Australia, New Zealand, Asia and the Pacific.
  • SuccessFactors accelerated growth in patient care and announced that Spectrum Health, a not-for-profit, integrated health system, selected SuccessFactors’ BizX Suite. Spectrum Health’s subsidiaries include seven hospitals, a health plan and over 140 service sites, as well as physician practices that serve the western Michigan area.
  • SuccessFactors and Cast Iron Systems announced that SuccessFactors’ Business Execution (BizX) Software Suite can now be integrated with on-premise business systems through Cast Iron’s OmniConnect cloud-based integration platform. Customers can now take advantage of this integration capability to rapidly connect SuccessFactors’ Employee Central with existing ERP systems.
  • SuccessFactors announced that it has signed a reseller and consulting partner agreement with software consulting and Cloud Computing specialist, iMotion, to resell SuccessFactors’ products and services across Hungary and into Central and Eastern Europe.
  • SuccessFactors hosted close to 1,000 customers and prospects over a two-week period at SuccessConnect 2010 New York City and San Francisco, with keynotes from EMC Corporation in New York City and Coca-Cola Enterprises in San Francisco.
  • At SuccessConnect 2010 in New York City, SuccessFactors announced the general availability of SuccessFactors Calibration, the industry’s first solution to streamline and eliminate variability across managers and identify true high-performers, as well as Goal Execution, a solution that brings awareness, visibility and tracking of progress against company goals into the daily work of employees. SuccessFactors also announced the general availability of SuccessFactors BizX Insights. Powered by Inform, BizX Insights enables C-Level executives and managers to answer critical questions about overall business performance to further accelerate results.
  • At SuccessConnect 2010 in San Francisco, SuccessFactors released a research report that validates the performance of SuccessFactors’ “Return on Execution Portfolio” (SF ROX), evidence that customers significantly outperformed markets across NASDAQ, DOW and S&P 500. SuccessFactors also announced the 2010 Business Execution Workshop Series designed to provide business leaders with methodologies, tools and techniques to gain business insight and further accelerate results within any organization.
  • SuccessFactors announced that Hillary Smith will join the company as its new General Counsel, managing the company’s global legal affairs and team. Hillary brings SuccessFactors a wide breadth and tenure of legal experience and is joining SuccessFactors from Yahoo! Inc. where she has been the General Counsel of Right Media, now a Yahoo! company, and Yahoo!’s Associate General Counsel, following her role as SVP, General Counsel and Corporate Secretary at DoubleClick Inc.
  • Lars Dalgaard named Best CEO of a Large Company in the 2010 San Francisco Business Times Innovation and Technology Awards. Dalgaard was selected from a pool of 25 finalists and more than 300 nominations of business leaders by a panel of independent judges in conjunction with the editors from the San Francisco Business Times. This follows after being awarded Ernst & Young 2008 Entrepreneur of the Year.

Guidance:

SuccessFactors is raising guidance for full fiscal year 2010 and initiating guidance for its third quarter fiscal 2010, as of July 26th, 2010.

Q3 FY10: Non-GAAP revenue for the company’s third fiscal quarter is projected to be in the range of approximately $52.5 million to $53.5 million. Note that non-GAAP revenue includes revenue from acquired companies that is required to be written down for GAAP purposes under purchase accounting rules. Non-GAAP net income per common share, basic and diluted, is expected to be breakeven, excluding the impact of acquisition accounting and related costs. Non-GAAP net income per common share estimates exclude the effects of estimated stock-based compensation expense, the amortization of intangible assets and any write-downs for fair value accounting related to the acquisitions and assume an average weighted share count of approximately 74.3 million shares.

Full Year 2010: Non-GAAP revenue for the company’s full fiscal 2010 is now expected to be in the approximate range of $198 million to $200 million, raised from the GAAP revenues range of approximately $180 million to $182 million given going into in Q210 which was raised from the approximate range of $178 million to $180 million going into Q110. The company continues to expect the non-GAAP net income per common share for fiscal 2010 to be around breakeven, excluding the impact of acquisition accounting and related costs. Non-GAAP net loss per common share estimates exclude the effects of estimated stock-based compensation expense, the amortization of intangible assets and any write-downs for fair value accounting related to the acquisitions and assume an average weighted share count of approximately 73.5 million shares.

This guidance also includes the revenue impact of the adoption of EITF 08-01 effective July 1, 2010, and revenue and expense from both the Inform and CubeTree – acquisitions that closed in July 2010.

For more information on SuccessFactors, please visit www.successfactors.com
Matt Lafata, HRchitect

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Kenexa Announces Financial Results for Second Quarter 2010…from Kenexa

August 7, 2010

 

HRchitect featured Kenexa in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and top Talent Management Systems vendors that businesses should consider. Ron Hanscome, VP of Product Strategy with Kenexa appeared on the HRchitect WebMingle on June 26, 2009 and Derek Bluestone, VP Product Marketing appeared on June 17, 2010. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

Kenexa (Nasdaq: KNXA), a global provider of business solutions for human resources, recently announced operating results for the second quarter ended June 30, 2010. 

For the second quarter of 2010, Kenexa reported total revenue of $44.9 million, an increase of 14% compared to $39.5 million for the second quarter of 2009. Within total revenue, subscription revenue was $36.1 million for the second quarter of 2010, an increase of 6% compared with $34.0 million in the second quarter of 2009. Professional services and other revenue was $8.8 million for the second quarter of 2010, an increase of 61% compared to $5.5 million for the second quarter of 2009.   

“We are pleased with the company’s performance in the second quarter, which was highlighted by accelerated revenue growth that exceeded our guidance, continued strong growth in deferred revenue and cash from operations that materially exceeded our reported profitability,” said Rudy Karsan, Chief Executive Officer of Kenexa.   

Karsan added, “The pace of economic recovery remains uncertain, however, our longer-term confidence continues to grow. Kenexa is competing for and winning opportunities with a growing number of the largest Global 5,000 organizations. In addition, we believe our competitive position is growing stronger as a result of our technology innovation and increased investments to raise awareness relative to Kenexa’s unique end-to-end, integrated HR value proposition. As a result, we are increasing the company’s full year revenue growth target to approach or exceed double digit levels in 2010, and we are continuing to invest in sales and R&D to position Kenexa for market share gains as the economy and IT spending environment improve.” 

Non-GAAP income from operations, which excludes share-based compensation expense and amortization of acquired intangibles was $3.8 million for the three months ended June 30, 2010, compared to $4.4 million for the three months ended June 30, 2009. Non-GAAP net income available to common shareholders which excludes the items listed above was $3.1 million for the three months ended June 30, 2010, compared to $4.1 million for the three months ended June 30, 2009, which also excludes one-time charges related to the retirement of a line of credit facility. Non-GAAP net income available to common shareholders was $0.13 per diluted share for the quarter ended June 30, 2010, compared to $0.18 per diluted share in the second quarter of 2009.  

Kenexa’s income from operations for the three months ended June 30, 2010, determined in accordance with GAAP, was $1.7 million, compared to $1.9 million for the same period of 2009. GAAP net income allocable to common shareholders was $1.0 million, or $0.04 per diluted share for the three months ended June 30, 2010, compared to net income of $1.3 million, or $0.06 per diluted share in the same period of 2009.

A reconciliation of GAAP to non-GAAP results has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Kenexa had cash, cash equivalents and investments of $65.5 million at June 30, 2010, an increase from $62.6 million at the end of the prior quarter.  The Company generated cash from operations of $7.2 million during the second quarter, which was partially offset by capital expenditures. Deferred revenue was $57.8 million at June 30, 2010, an increase of $3.3 million compared to the end of the first quarter 2010 and an increase of 37% from June 30, 2009. 

Other Second Quarter and Recent Highlights 

  • On July 26, 2010, Kenexa announced the acquisition of The Centre for High Performance Development (Holdings) Limited (CHPD). CHPD’s extensive research on leadership development and training will add to Kenexa’s existing research and content portfolio. 
  • More than 30 “preferred partner” customers were added during the quarter (defined as customers that spend more than $50,000 annually). 
  • The average annual revenue from the Company’s top 80 customers was greater than $1.1 million, an increase from the over $1.0 million level in recent quarters. 
  • John Nies was elected as the company’s lead independent director, reinforcing Kenexa’s commitment to best practices in the area of corporate governance. Mr. Nies has been a member of Kenexa’s board of directors since 2002 and is currently a Managing Director of JMH Capital, LLC, a private equity investment firm.

Business Outlook  

Based on information as of August 3, 2010, the Company is issuing guidance for the third quarter and full year 2010 as follows: 

Third Quarter 2010*: The Company expects revenue to be $45 million to $47 million, and non-GAAP operating income to be $3.4 million to $3.6 million. Assuming an effective tax rate for reporting purposes of approximately 20% and approximately 23.2 million shares outstanding, Kenexa expects its non-GAAP net income per diluted share to be $0.12 to $0.13. 

Full Year 2010*: The Company expects revenue to be $177.5 million to $181.5 million, and non-GAAP operating income to be $14.5 million to $16.5 million. Assuming an effective tax rate for reporting purposes of approximately 20% and approximately 23.2 million shares outstanding, Kenexa expects its non-GAAP net income per diluted share to be $0.52 to $0.59. 

*includes the anticipated contribution from the acquisition of Centre for High Performance Development (CHPD). Management currently expects CHPD to contribute approximately $1.0 million and $2.5 million to Kenexa’s revenue for the third quarter and full year 2010, respectively. The acquisition is not expected to have a material impact on Kenexa’s non-GAAP operating income or non-GAAP net income per diluted share.

For more information on Kenexa, please visit www.kenexa.com
Matt Lafata, HRchitect

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MrTed To Be Acquired By StepStone Solutions…from MrTed

August 2, 2010

 

Creating a Strong Foundation for the Future

HRchitect includes MrTed and SmartRecruiters in our list of top Talent Acquisition Systems vendors that businesses should consider. Jerome Ternynck, CEO of MrTed appeared on the HRchitect WebMingle on May 22, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

MrTed Ltd., the leading provider of on-demand Talent Acquisition Solutions, today announced it is being acquired by StepStone Solutions, a global leader in Talent Management Solutions. Over 1,500 organisations in 40 countries rely on StepStone Solutions every day to improve their business performance, build effective talent strategies, and to help their people have more effective, enjoyable and rewarding careers. StepStone Solutions operates in 16 countries and employs around 450 people.

“As our industry consolidates, integrating MrTed’s business into StepStone Solutions makes a lot of sense for both sets of customers and provides a safe pair of hands for the future. It creates a powerhouse software company with a truly global footprint, an unmatched product set and great financial strength,” said Jerome Ternynck, CEO and co-founder of MrTed.  “Our aim is to ensure that the integration of MrTed into StepStone Solutions has only positive results for our customers and employees, and I am personally delighted to be continuing to work with StepStone Solutions in an advisory capacity.”

This acquisition is part of StepStone Solutions’ strategic plan to continue growth as a world leader in the talent management market. “For customers and prospects of both companies this is extremely exciting. Looking forward, the strength of both companies will enhance the experience and means by which  business managers interact with their talent and HR colleagues, generating greater value for their businesses,” said StepStone Solutions CEO, Matthew Parker. “We have created a very strong combined player with unique capabilities to meet customer needs in terms of global reach, financial strength and product set.”

For more information please visit www.stepstonesolutions.com
Matt Lafata, HRchitect

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