ADP Reports First Quarter Fiscal 2012 Results; Updates/Confirms Fiscal 2012 Guidance…from ADP

October 26, 2011

 

Revenues Rise 13%, 10% Organic; EPS up 9%

Confirms Fiscal 2012 Forecasts for Revenue Growth of 7% to 9% and EPS Growth of 8% to 10%

If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has 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 always available to help!

 

Automatic Data Processing, Inc. (Nasdaq: ADP) reported revenue growth of 13%, 10% organic, to $2.5 billion for the first fiscal quarter ended September 30, 2011, Gary C. Butler, chief executive officer, announced today. Revenue growth benefited 2 percentage points from favorable foreign exchange rates compared with a year ago. Pretax earnings increased 5% and benefited 1 percentage point from favorable foreign exchange rates. Net earnings increased 9% and benefited from a lower effective tax rate in the quarter compared to a year ago. Diluted earnings per share of $0.61 increased 9% from $0.56 a year ago on fewer shares outstanding. ADP acquired 5.9 million shares of its stock for treasury at a cost of about $280 million fiscal year-to-date. Cash and marketable securities were $1.4 billion at September 30, 2011.

First Quarter Discussion

Commenting on the results, Mr. Butler said, “I am pleased with ADP’s results for the first quarter of fiscal 2012. The increase in new business sales during fiscal 2011 and the acquisitions closed last fiscal year contributed to the strong revenue growth in the quarter. As anticipated, the year-over-year pretax margin comparison was negatively impacted by the decline in high-margin client interest revenues resulting from lower interest rates and the impact of last year’s acquisitions.

ADP’s key business metrics continued to trend positively, led by growth in new business sales for Employer Services and PEO Services. These new, incremental recurring revenues are the key to driving future revenue growth. Employer Services’ client revenue retention also improved for the quarter from a year ago. The automotive marketplace is stable and Dealer Services posted strong new business sales.

Employer Services

“Employer Services’ revenues grew 9% for the first quarter, 7% organically. The number of employees on our clients’ payrolls in the United States increased 2.7% for the quarter as measured on a same-store-sales basis for our clients on our AutoPay platform. Worldwide client retention improved 0.2 percentage points for the quarter compared with a year ago. As anticipated, Employer Services’ pretax margin declined 50 basis points for the quarter, but improved 20 basis points excluding a drag of about 70 basis points from last year’s acquisitions.

“Combined Employer Services and PEO Services worldwide new business sales increased 8% for the quarter. New business sales represent annualized recurring revenues anticipated from new orders.

PEO Services

“PEO Services’ revenues increased 17% for the first quarter, all organic. PEO Services’ pretax margin improved 90 basis points for the quarter. Average worksite employees paid by PEO Services increased 13% for the quarter to approximately 242,000.

Dealer Services

“Dealer Services’ revenues grew 18% for the first quarter, 6% organically. Total revenues benefited from acquisitions closed during the first quarter of fiscal 2011. Dealer Services’ pretax margin improved 115 basis points for the quarter. Excluding a drag from last year’s acquisitions of 70 basis points and the positive year-over-year impact of 130 basis points from acquisition-related costs in last year’s first quarter, Dealer Services’ pretax margin improved 55 basis points.

Interest on Funds Held for Clients

“The safety, liquidity, and diversification of our clients’ funds are the foremost objectives of our investment strategy. Client funds are invested in accordance with ADP’s prudent and conservative investment guidelines and the credit quality of the investment portfolio is predominantly AAA/AA.

“For the first quarter, interest on funds held for clients declined $4.9 million, or 3.9%, from $126.8 million to $121.9 million, due to a decline of 50 basis points in the average interest yield to 3.2%, partially offset by an increase of 10% in average client funds balances from $13.8 billion to $15.2 billion.

Fiscal 2012 Forecast

“Since we provided our initial fiscal 2012 forecast, interest rates have declined and the economic environment has become more uncertain. However, we are confirming our total ADP fiscal 2012 forecasts with updates as noted below:

  • Total revenues – increase 7% to 9%
    • We anticipate that the first quarter’s positive impact from favorable foreign exchange rates will not continue and will be about neutral for the full year
  • Diluted earnings per share – increase 8% to 10%, compared with $2.52 earnings per share in fiscal 2011
  • Employer Services – revenue growth of about 7% compared with our prior forecast for 6% to 7% growth; pretax margin expansion of about 50 basis points compared with our prior forecast of at least 50 basis points due to the impact of current year acquisitions
    • Pays per control – up about 2% for the year compared with our prior estimate of up 1% to 2%
  • PEO Services – revenue growth of about 17% compared with our prior forecast for 15% to 17% growth; pretax margin about flat
  • Employer Services and PEO Services new business sales – 8% to 10% growth compared to $1.1 billion sold in fiscal 2011
  • Dealer Services – revenue growth of 8% to 9%; pretax margin expansion of about 50 basis points. About 2 percentage points of revenue growth is anticipated to result from the full-year effect of the Cobalt acquisition, which was completed during the first quarter of fiscal 2011.

“Interest on funds held for clients is expected to decline $40 to $50 million, or 7% to 9%, from $540.1 million in fiscal 2011. This is based on a decline of 40 to 50 basis points in the expected average interest yield to 2.7% to 2.8%. We continue to anticipate 7% to 8% growth in average client funds balances. This is updated from our previous forecasted decline of $25 to $35 million, or 5% to 6%, based on a decline of 30 to 40 basis points in the expected average interest yield to 2.8% to 2.9%. The interest assumptions in our forecasts are based on Fed Funds futures contracts and forward yield curves as of October 24, 2011. The Fed Funds futures contracts do not anticipate any changes during the fiscal year in the Fed Funds target rate. The three-and-a-half and five-year U.S. government agency rates based on the forward yield curves as of October 24, 2011 were used to forecast new purchase rates for the client extended and client long portfolios, respectively.

“ADP entered fiscal 2012 with positive momentum. While the economic recovery has been weaker in recent months than anticipated at the beginning of the fiscal year, I am nonetheless pleased with our execution as evidenced by ADP’s first quarter results. We continued to invest in our distribution and service capabilities, and in product innovation. As a result, ADP continued to win in the marketplace and I remain optimistic about ADP’s growth opportunities,” Mr. Butler concluded.

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

 

 

Matt Lafata, HRchitect

Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: , , , , , , , , , , | Permalink
Posted by mattlafata

ADP Acquires The RightThing…from ADP

October 10, 2011

 

If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has 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 always available to help!

 

ADP, a leading provider of human resource outsourcing, payroll services, tax and compliance services, benefits administration and integrated computing solutions for vehicle dealers, today announced that it has acquired privately held The RightThing, a leading recruitment process outsourcing (RPO) provider. The RightThing is also the parent company of AIRS, a widely recognized leader in recruitment training and technology. Terms of the agreement were not disclosed.

The RightThing acquisition not only broadens ADP’s market-leading HR Business Process Outsourcing (HR BPO) capabilities, but also complements its existing applicant tracking and talent management solutions, enabling ADP to build an even more robust end-to-end talent acquisition portfolio to help clients establish a highly effective process for managing their workforce.

“With the addition of The RightThing’s industry-leading RPO services, technology and management team, ADP will not only expand into a strategic adjacent market, but will also immediately become a principal player in the RPO industry,” said Regina Lee, President of ADP’s National Account Services, Major Account Services, GlobalView and ADP Canada business units. “Expansion into complementary markets -such as RPO- will be of great benefit to our clients and is a critical element in our plan to grow our business. This acquisition underscores ADP’s commitment to help our clients drive business success by helping them better manage talent, make quality hires and control costs associated with the recruitment process.”

HR organizations are increasingly focused on utilizing cost effective, scalable recruiting models such as those provided by the RPO industry. The RightThing solutions and services are among the most respected in the industry. The RightThing is ranked as a top RPO provider, according to Everest Research, and has been recognized by HRO Today magazine as a leading enterprise RPO provider for the past several years.

“The RightThing, a leader in the RPO market, brings a standardized model that helps buyers realize significant efficiency in their recruitment function. ADP will be able to make great use of this inside its holistic, integrated HR BPO solution,” said Rajesh Ranjan, Research Director at Everest Group, an advisory firm on global services. “It’s a good match of culture, service model and scale.”

“Becoming a part of ADP is a terrific opportunity that enables us to gain access to the vast global resources needed to significantly expand our reach,” said Terry Terhark, Chief Executive Officer of The RightThing. “The combination of ADP and The RightThing will create immediate and strategic benefits for both businesses in the areas of operational delivery, service breadth, and leading-edge solutions. In addition, we expect to deliver a unique value proposition to clients that are looking for proven HR outsourcing solutions.”

For more information on ADP, please visit www.adp.com. For more information on The RightThing, please visit www.therightthing.com

 

 

Matt Lafata, HRchitect

Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: , , , , , , , , , , , , | Permalink
Posted by mattlafata

nowHIRE Named to Workforce Managements Hot List for Integrated Talent Management Software Providers…from nowHIRE

April 13, 2011

 

HRchitect includes nowHIRE in our list of top Talent Acquisition Systems vendors that businesses should consider. Joseph Impastato, President of nowHIRE, appeared on the HRchitect WebMingle on August 7, 2009. If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has 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 always available to help!

In recognition of nowHIRE’s customizable and scalable solutions, the company has been named to Workforce Management’s March Hot List for integrated talent management software providers.

nowHIRE offers talent management products for small, mid-sized and large companies across all markets. nowHIRE provides a variety of talent management systems, including those for government contractors and for industries that do high-volume hiring, such as the retail and hospitality industries.

Known for its customized solutions and excellent customer responsiveness, nowHIRE created SigCAP, a digital signature capture pad that works with nowHIRE’s applicant tracking software, at the request of a client. SigCAP is the first physical signature pad capture process that integrates with a hiring management or applicant tracking system.

nowHIRE’s many and varied partnerships enable the company to offer a wide variety of modules such as pre-hire assessments, background screening, I-9 compliance and E-Verify to meet complex talent management needs. The company’s extremely successful partnership with ADP’s Tax Credit Services division allows nowHIRE clients to integrate ADP’s tax credit and incentive solution into the hiring process. Organizations using the solution can dramatically increase their tax credit capture and streamline the otherwise difficult manual process.

“Being included in the Hot List is an honor,” said Joseph N. Impastato, II, nowHIRE’s president and chief executive officer. “We are constantly working on behalf of our customers to deliver best-in-class solutions that can meet the many challenges of talent management today. We look forward to continued growth and will continue to innovate as we strive to serve them.”

Each month, leading human resources magazine Workforce Management researches vendors from a different category, such as background screening companies or training providers, and chooses the “hot” vendors based on revenue, number of clients and topic-specific criteria.

For more information on nowHIRE, please visit www.nowhire.com
Matt Lafata, HRchitect

Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Talent Acquisition, Talent Management | Tagged: , , , , , , , , , , , , , , , , , , , , | Permalink
Posted by mattlafata

WorkForce Software Announces EmpCenter® Absence Compliance Tracker; Redefines Employee Absence Management Leave Practices for HR Professionals…from WorkForce Software

October 4, 2010

 

EmpCenter ACT Takes the Stress out of Compliance: Point. Click. Comply.

Howard Tarnoff, Senior Vice President, and Marc Moschetto, Vice President of Marketing, from WorkForce Software appeared on the HRchitect WebMingle on August 12, 2010.  If you are looking for a new Talent Management System, Workforce Management, 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!

WorkForce Software, the leading provider of workforce management solutions for organizations with complex labor policies and compliance concerns, announced its absence management solution, EmpCenter® Absence Compliance Tracker (ACT), at last week’s HR Technology Conference & Expo in Chicago.

Human resource professionals are required to maintain compliance with a diverse array of federal, state, corporate, and other employee leave regulations and policies. Common examples include the Family Medical Leave Act (FMLA), military leave and pregnancy leave, but other programs such as those offered on a state-by-state basis are becoming more numerous and more common. Managing employee leave within this environment is complicated because any single employee leave request could qualify for coverage under more than one leave program, and the state laws and regulations are constantly changing.

Determining the appropriate leave type (or types), effectively managing the leave request – including documenting all correspondence and communication related to the leave – and, maintaining compliance with constantly changing regulations places a heavy burden on already overtaxed human resource departments. EmpCenter ACT, however, delivers a powerful new way to automate the entire leave management process.

“A broad array of state, federal, and corporate leave policies has created an unprecedented level of complexity and potential exposure for employers,” said Howard Tarnoff, WorkForce Software’s senior vice president. “We brought EmpCenter ACT to market to both mitigate the risk and ease the burden of complying with the sometimes intersecting leave policies, practices, and regulations that are already on the books today, as well as safeguard organizations from any new laws – or changes to existing laws – which may arise in the future.”

Unlike other absence management solutions or outsourced services available to HR professionals, EmpCenter ACT breaks down the complex employee leave process into three simple steps:

Step 1: Employee Leave Request and Leave Type Determination – a comprehensive, dynamic questionnaire is presented to the employee and, based on the responses to those questions, a report of qualifying leave type (or types) is presented  to HR in real-time

Step 2: Active Case Management – a secure and comprehensive workflow to ensure all documentation is processed on time and within policy, and all relevant communication is captured in a HIPAA-compliant environment

Step 3: Policy Compliance – a compliance update subscription service monitors and automatically updates the application whenever an existing leave regulation is changed or a new regulation is introduced, ensuring HR is using the most up-to-date information with minimal effort

For the first time, HR professionals can utilize technology to automate the entire leave process, regardless of the type of leave. Utilizing EmpCenter ACT gives HR departments robust functionality that includes: 

  • Delivering a proactive approach to managing all aspects of employee leave
  • Automating the process of classifying employee leave
  • Documenting all leave-related activities and paperwork for a complete audit trail
  • Capturing each step of the leave process, from documentation to reminders for a physician visit
  • Proactively ensures compliance with current state and federal regulations, using an active update service
  • Supporting concurrent leave taken by any single employee (e.g. workers’ compensation and FMLA)
  • Generating reports and other analysis to view leave allowances, leave usage, and identify patterns of leave that may indicate policy abuse

As a result, organizations can achieve compliance, mitigate risk, and reduce the amount of effort required by the HR organization to monitor and apply these frequently changing policies.

EmpCenter ACT works in concert with the rest of the EmpCenter suite, but it can be used to complement and extend the functionality of any other time and attendance system, such as from Kronos, PeopleSoft, SAP, Ultimate Software, or ADP.

EmpCenter ACT is part of EmpCenter 8.0, the latest iteration of WorkForce Software’s proven, enterprise-grade workforce management suite. One component of the suite is EmpCenter Time and Attendance, designed to accommodate even the most complex pay rules and work rules solely through software configuration. Other EmpCenter components include an advanced labor scheduling application, powerful analysis and reporting tools, mobile workforce management applications for smartphones, and the EmpCenter Compliance Portal.  The Compliance Portal, new with EmpCenter 8.0, is an online resource containing thousands of articles and legal information designed to help HR professionals gain current and comprehensive data on a variety of topics – from leave regulations to benefits, payroll policies, best practices, and other information they need to complete their day-to-day activities.  The EmpCenter suite components can be used separately or in concert with each other for a full workforce management solution. 

For more information on WorkForce Software, please visit www.workforcesoftware.com
Matt Lafata, HRchitect

Leave a Comment » | HCM, HR, HR Technology, Human Capital Management | Tagged: , , , , , , , , , , , , , , , , , , , , | Permalink
Posted by mattlafata

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

Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Talent Management | Tagged: , , , , , , , , , , , , , , | Permalink
Posted by mattlafata

ADP Enters Agreement to Acquire Workscape …from ADP

July 1, 2010

 

Acquisition Will Significantly Expand ADP’s Presence in the Benefits Marketplace

HRchitect featured Workscape 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. Tim Clifford, President and CEO of Workscape, appeared on the HRchitect WebMingle on May 15, 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.

ADP®, a leading provider of HR, payroll, and benefits administration services, today announced it has entered into a definitive agreement to acquire privately-held Workscape, Inc., a leading provider of integrated benefits and compensation solutions and services.

Based in Marlborough, Mass., 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. As such, the acquisition will significantly expand ADP’s presence within the benefits marketplace for large, complex organizations.

Closing of the acquisition is expected in the third quarter of calendar 2010 and is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is not subject to financing. Terms of the proposed agreement were not disclosed.

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

For more information on Workscape, please visit www.workscape.com
Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , , , | Permalink
Posted by mattlafata

ADP Workforce Now Offers Mid-Market Companies Integrated Talent Management Solution…from ADP

March 30, 2010

 

Integrated HR, Payroll, Benefits and Time and Attendance Solution Expanded to Deliver Talent Management

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 the enhancement of ADP Workforce Now to include talent management capabilities designed to enable mid-sized organizations to find, grow and keep the talent they need to compete and win in the marketplace.

ADP Workforce Now is the premier single-source, integrated solution that offers robust HR, benefits administration, payroll, time and attendance and talent management functionality specifically designed for mid-market organizations with 50 to 999 employees.

Many large organizations have already implemented talent management solutions to help identify top talent, track skills, build development plans, align team members with strategic initiatives and groom future leaders. However, a recent study by ADP entitled “Automated Talent Management: The New Strategic Imperative for Performance Efficiency” (March 2010), found that the majority of mid-sized organizations continue to manage their talent manually:

–  82% manage performance management manually

–  81% manage applicant tracking manually

–  78% manage compensation manually

–  74% manage background checking manually

In fact, because there is such a lack of easy-to-use, affordable and integrated solutions, only 8 percent of mid-sized companies use the same provider for HR, payroll and talent management.

“When it comes to making sure the right people with the right skills are in the right positions, mid-sized companies have just as much at stake — perhaps more — than larger ones,” said Regina Lee, president of ADP Major Account Services and Small Business Services. “ADP Workforce Now provides the tools that mid-sized companies need in order to focus on business growth, not business administration.”

Prior to using ADP Workforce Now, Coconut Grove Bank, Coconut Grove, Florida used three different systems and a variety of manual processes to manage HR, payroll and talent. “We were looking to improve organizational efficiency, streamline the number of vendors involved in our HR systems and elevate our strategic contribution to the bottom line,” said Ana Ishii, HR Director at Coconut Grove Bank. “With ADP Workforce Now, we will meet our needs across the employee lifecycle with a single solution, single service experience and single provider.”

Today, more than 2,000 companies leverage ADP Workforce Now to drive their organizations forward.

For more information about the ADP study, download the white paper “Automated Talent Management: The New Strategic Imperative for Performance Efficiency” at www.ADP.com/StrategicHR
Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , | Permalink
Posted by mattlafata

Cornerstone OnDemand Recognized for 311 Percent Revenue Growth by Deloitte’s 2009 Technology Fast 500 …from Cornerstone OnDemand

October 23, 2009

 

Talent management software firm advances its ranking among the fastest-growing technology companies in North America

HRchitect featured Cornerstone OnDemand 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 and top Learning Management Systems vendors that businesses should consider. Charles Coy participated in the HRchitect WebMingle on January 16, 2009. Cornerstone OnDemand participated in the Talent Management Systems Beauty Pageant in December 2008, where they were crowned the winner. Cornerstone OnDemand also participated in the Learning Management Systems panel on June 10, 2009 as part of theHRshow event. 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.

Cornerstone OnDemand Inc., a leading provider of Software-as-a-Service (SaaS)-based learning and talent management solutions, today announced it has advanced its ranking from no. 431 to no. 388 on Deloitte’s 2009 Technology Fast 500 list of fastest-growing technology companies in North America.  Rankings are based on percentage of fiscal year revenue growth during the five year period from 2004 to 2008.  Cornerstone grew 311 percent during this period. 

Despite the down economy, Cornerstone continues to outperform its competitors, enjoying triple-digit growth of new client bookings and a nearly 300 percent surge in active subscribers over the past year.  Cornerstone is also significantly expanding its global reach via the company’s strong-performing European division and strategic reseller partnerships with firms such as ADP Employer Services, which has more than 550,000 clients worldwide. 

“It is an honor to be recognized by Deloitte and the Technology Fast 500 as one of North America’s fastest growing technology companies,” said Adam Miller, President and CEO of Cornerstone OnDemand.  “Cornerstone’s momentum over the past few years can be attributed to the quality and innovation of our software, our dedication to providing best-in-class client service, and the success of our global sales teams and reseller channels.  We will continue to invest in these key areas to ensure the success of our clients and the continued growth of the company into 2010.”  

In addition to the Technology Fast 500, Cornerstone recently was ranked among the top 100 fastest growing private software companies in the U.S. by Inc. magazine.  Miller also was named 2009 CEO of the Year by the Technology Council of Southern California.

For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com.

 
Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , , , , , , , , , | Permalink
Posted by mattlafata

Vertical Computer Systems Inc. Purchases Priority Time Systems, Inc….from Vertical Computer Systems

June 24, 2009

 

HRchitect includes NOW Solutions in its list of HRIS vendors that businesses should consider. HRchitect conducted a Beauty Pageant on Time & Attendance Systems in June, 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.

Vertical Computer Systems Inc (OTC Bulletin Board: VCSY)(www.vcsy.com) is pleased to announce it has purchased Priority Time Systems, Inc. (Priority Time Systems) from Mark Arredondo and retained Mr. Arredondo as its President. Under the terms of the stock purchase agreement, VCSY purchased a 90% interest in Priority Time Systems from Mr. Arredondo. Priority Time Systems is currently finalizing its time and attendance software which will be coupled with a competitive time clock. Once completed, Priority Time Systems’ product will be a comprehensive time and attendance application that will compete with the leading competitors in the field.

Mark Arredondo is an industry veteran in employer services, with a particular expertise in payroll and time-management. Mr. Arredondo began his career in Las Vegas with ADP, a payroll and human resource provider, and worked his way up to Regional Sales Manager, the top position in the office, where he managed 12 sales reps. He and his team in Las Vegas quickly became one of the top-producing sales offices in the country.

Later, he became a Vice President of Sales and an equity partner with Compu-Cash Systems (Compu-Cash), a Kronos reseller, and sold time and labor products to such companies as The Venetian, Wynn Las Vegas, Station Casinos, The Palms, Hard Rock, and Caesar’s among many others. Mr. Arredondo later sold his ownership stake in Compu-Cash.

“We believe there is a great synergy between the two companies and their respective products. Priority Time Systems’ time and attendance product can be fully integrated with emPath, the payroll and human resources product of NOW Solutions, VCSY’s wholly owned subsidiary, to meet the needs of its clients. Initially, NOW Solutions will focus on its healthcare and governmental clients and VCSY will also sell the Priority Time Systems product separately,” stated Richard Wade, President and CEO of Vertical Computer Systems, Inc. “We are confident that Mark Arredondo, who was a top performer for ADP as well as Kronos, can provide the expertise to successfully launch a time and attendance product utilizing the newest web-based technology.”

“I am extremely pleased to join the VCSY family and to have the opportunity to finalize the completion of the time and attendance product I have been developing to capitalize on what I perceive to be a significant weakness of existing market leaders,” added Mark Arredondo, President of Priority Time Systems, Inc. “I am confident that we will be able to greatly enhance the value of the company’s HR and payroll software with our time and attendance application.”

For more information on Vertical Computer Systems, please visit www.vcsy.com

 
Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , , , , , , , , , , | Permalink
Posted by mattlafata

Industry’s Largest Reseller Deal with ADP & Added VC Funding Fuel Cornerstone OnDemand’s Substantial Growth in 2009…from Cornerstone OnDemand

June 10, 2009

 

Cornerstone achieves its best first quarter results in company history, including an 185 percent surge in new client bookings and triple-digit active subscriber growth

HRchitect featured Cornerstone OnDemand 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 and top Learning Management Systems vendors that businesses should consider. Cornerstone OnDemand will participate in the Learning Management Systems panel on June 10, 2009 as part of theHRshow2009 event. 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.

Cornerstone OnDemand Inc., a leader in on-demand learning and talent management software and services, today announced the company achieved its best first quarter results in Cornerstone’s history.  The company had record new client bookings in Q1 2009 (ending March 31) – up 185 percent from the previous year – with first quarter billings up by 31 percent.  Its active subscriber base also grew substantially, surging to 2.5 million users in March – a 250 percent jump from 2008.

“The first half of 2009 has been game-changing for the company, if not the entire talent management software industry,” said Adam Miller, President and CEO of Cornerstone OnDemand Inc.  “Cornerstone’s phenomenal growth, industry-leading client retention and continued product innovation are propelling the company into the market leader position, far exceeding the performances of our competitors.  Signing the industry’s largest reseller deal with ADP further validates Cornerstone as the top talent management software choice for organizations worldwide.”

Cornerstone has taken key steps in recent months to further fuel its considerable growth.  The company significantly expanded its global reach via a new relationship with leading HR, payroll and benefits services provider ADP® Employer Services.  ADP, which has more than 550,000 clients worldwide, will leverage Cornerstone’s software suite to optimize its own employer talent management offerings.  Cornerstone also secured a new $12.7 million round of financing led by Meritech Capital Partners, allowing the company to pursue new market opportunities and further enhance its service offerings.  And, in an effort to capture more mid-market business, the company launched Cornerstone Business Edition, a new Software-as-a-Service (SaaS)-based talent management suite built specifically to meet the needs of organizations with up to 1,500 employees.

Other recent company highlights include:

 

  • New Client Wins:  Since the start of the year, Cornerstone has secured 27 new clients, representing more than 500,000 additional users.  A mix of mid-size and large, global organizations in a wide variety of industries, the new signings include premier companies such as a leading insurance, benefits and financial services provider; a top global interactive entertainment and video gaming company; and a leading audio technology firm.  The company also added the nation’s largest drugstore chain (with 250,000 subscribers) to its roster – making it the eighth Cornerstone client with more than 100,000 users.
  • Global Capabilities:  Earlier this year, Kelly Services announced it is deploying Cornerstone’s integrated talent management suite to 659,000 users worldwide, in what is the world’s largest global SaaS implementation to date.  Cornerstone also continues to expand its presence in EMEA, securing new clients such as Booz & Company, Contour Housing, Manchester Airport Group and Turkcell in the UK, France, Germany, Turkey, Austria and Switzerland.
  • Empowering Communities: In Q1, Cornerstone welcomed three new strategic partners to the Cornerstone OnDemand Foundation, which leverages the company’s expertise in workforce development, education and software deployment, as well as other organizational assets, for philanthropic and community benefit.  New partners include Teach for America, Oxfam America and Save the Children.
  • Awards:  In April, Adam Miller was named the 2009 CEO of the Year by the Technology Council of Southern California.  The award recognizes the leader of a Southern California-based technology company that has best-in-class performance in areas such as profitability, team building and product innovation.
  • Corporate Partners:  Cornerstone continues to expand its global partner channel, forming new alliances with service and distribution firms such as Cox eLearning Consultants, Genpact, Learn2Perform, TriNet and XnX.
  • Client & Partner Conference:  Last month, Cornerstone hosted more than 150 attendees at its annual Convergence 2009 Client & Partner Conference in Santa Monica, Calif.  The event brought together valued clients and partners with top thought leaders and industry analysts from firms such as IDC, Bersin & Associates, and Forrester, providing a rich, interactive forum for addressing today’s most challenging human capital management issues.

For more information about Cornerstone OnDemand, please visit www.cornerstoneondemand.com

 
Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , , , , , , , | Permalink
Posted by mattlafata

ADP Teams With Cornerstone OnDemand to Optimize Employer Talent Management Solutions Worldwide…from ADP

May 11, 2009

 

Offerings Enable Employers to Most Effectively Manage and Develop Their Workforce

HRchitect featured Cornerstone OnDemand 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 and top Learning Management Systems vendors that businesses should consider. Cornerstone OnDemand competed in the HRchitect Beauty Pageant on Talent Management Systems in November 2008, where they were crowned the winner. Charles Coy from Cornerstone OnDemand also participated in the HRchitect WebMingle in January 2009.

ADP Employer Services, a leading provider of HR, payroll and benefits administration services, today announced the launch of a comprehensive suite of talent management solutions to the marketplace through its relationship with leading talent management software provider Cornerstone OnDemand. This marks the expansion of ADP’s global talent management solutions by offering best-in-class performance, succession management, learning, compensation and enterprise social networking, along with powerful reporting and analytics.

“The market is demanding a robust, global talent management solution set that complements and enhances employers’ current HR and payroll solutions,” said Regina Lee, President, ADP National Account Services and Employer Services International. “Our clients’ most valuable asset is their human capital. This relationship with Cornerstone OnDemand helps us significantly improve the HR experience and workforce programs for our clients and their employees.”

Cornerstone OnDemand’s Software-as-a-Service (SaaS)-based platform offers a scalable, cost-effective and easy-to-use talent management solution for enabling high-impact success around employee collaboration, development and performance. Employers operating around the world can take advantage of this comprehensive talent management solution immediately.

“We are elated to partner with ADP to expand the global delivery of our talent management software suite,” said Adam Miller, President and CEO, Cornerstone OnDemand. “Coupling the industry’s best talent management solutions with the industry leader in the space is a game-changer for the marketplace. Cornerstone’s unique approach, which integrates learning, performance and social networking solutions, will help ADP’s clients maximize business impact by providing those organizations with the tools they need to empower their people and foster a high-performing, engaged and productive workforce.”

Benefits of the new talent management solution include:

 

  • Performance management: enables employers to align individual goals with departmental objectives and organizational strategy to ensure that workforce activity is translated into positive business results.
  • Succession planning: handles workforce and employee succession management through automated career profiling, team building, internal recruiting and comprehensive succession planning capabilities, as well as identifying promising talent and critical roles within organizations to ensure that the right people are promoted to the right positions.
  • Learning management: allows businesses to strategically and cost-effectively create, manage, and deliver personalized training that brings together targeted, fully blended learning programs for all members of the organization.
  • Compensation management: provides the tools to allow organizations to reward the behaviors and outcomes they desire most.
  • Social networking: enables more effective on-boarding, workplace collaboration, improves employee performance, and drives innovation from customer and partner communities by fostering social (informal) learning, organizational memory, professional networking, and better communication across the organization’s employee base and the extended enterprise.

For more information, please contact ADP at 1-800-CALLADP.

For more information on Cornerstone OnDemand, please visit www.cornerstoneondemand.com

 
Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , , , , , , , , , , , , , | Permalink
Posted by mattlafata

ADP to Offer Clients Advanced Candidate Assessment Capability…from ADP

February 25, 2009

 

Partnership With PreVisor Helps Clients Predict On-the-Job Performance and Streamlines the Hiring Process

 

HRchitect includes ADP-VirtualEdge in our list of top Talent Acquisition Systems vendors that businesses should consider. ADP-VirtualEdge also participated in the HRchitect Beauty Pageant on Talent Acquisition Systems in November 2008.

 

ADP Employer Services, a leading provider of HR, payroll and benefits administration services, today announced that ADP’s VirtualEdge recruitment solution will include integrated candidate assessment technology. ADP has partnered with PreVisor to offer this world-class assessment service with nearly 1,000 pre-employment tests and selection tools covering most jobs in most industries, provided through a single platform.

 

ADP’s VirtualEdge offering will be integrated with the PreVisor assessment technology, which utilizes insights from predictive assessment tests coupled with industrial-organizational psychology designed to accurately predict on-the-job performance. PreVisor offers companies a number of strategic benefits, and as a result of the firm’s assessment services, clients have recently experienced up to a 24% increase in sales and an 87% reduction in organizational turnover. This results-oriented approach, combined with ADP’s VirtualEdge offering, helps ADP clients predict on-the-job performance and streamlines the hiring process.

 

“In today’s job environment, organizations are looking for ways to efficiently sort through a large candidate pool and select the strongest potential employees in the shortest period of time,” said Jan Siegmund, Division President, ADP Added Value Services. “With this offering, ADP and PreVisor have created a solution that provides the rigorous standards needed to streamline hiring, reduce recruiting and training costs, and help provide the best business outcomes for our clients.”

 

ADP recently released a white paper based on a study on the state of recruitment which revealed that HR recruiters spend approximately 30 percent of their time uncovering qualified candidates who meet job requirements. In this study HR recruiters identified “finding qualified candidates” as their biggest challenge, demonstrating the value of this automated assessment tool in selecting top talent quickly and efficiently.

 

ADP provides online recruitment and hiring solutions to organizations of more than 1,000 employees, including talent acquisition, background checking, employment tax credit screening and I-9 compliance services. The suite is integrated with ADP HR solutions to facilitate streamlined new hire processing. For more information about the solutions and to access a free white paper on applicant assessments and to register for a free webinar, please visit http://www.pre-employmentservices.adp.com.

Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , | Permalink
Posted by mattlafata

Learn.com Announces Record Breaking 2008 Fiscal Year For Revenue and Profitability as the Company Enters its 10th Year of Service to Clients…from Learn.com

January 9, 2009

 

HRchitect featured Learn.com in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Learning Management Systems vendors that businesses should consider.

 

Learn.com, the leader in on-demand workforce development and productivity, recently announced that the company’s financial performance shattered several records in 2008.  Learn.com not only turned in another record year in revenue, but the fourth quarter was its best ever, and most importantly, December 2008 was the best sales booking month in the company’s history with more than 50% annual growth.  Learn.com was able to achieve this impressive growth while still maintaining positive net income and cash flow. This strong financial performance underscores the value Learn.com brings to its clients and validates Learn.com’s peerless Software as a Service (SaaS) business model.

 

During the year, Learn.com further expanded its unique partnership with ADP whereby ADP customers can seamlessly integrate the Learn.com LearnCenter Platform with the ADP HRB system and other ADP products.  The company also enhanced and solidified its relationships with ElementK, The Matchett Group, SkillSoft, Vivid Learning and other content providers.

 

New relationships were forged with Kronos, Wolters Kluwer, Get Abstract and many others. These relationships further demonstrate that the LearnCenter platform visibly improves business results and prepares organizations for the competitive landscape. Learn.com has become the go-to partner of choice for some of the world’s largest providers of workforce productivity solutions. These well planned partnerships allow Learn.com to penetrate new channels as well as provide Learn.com clients a one-stop-shop for pre-hire to retire®, with unmatched value, depth of functionality and ease of use.

Other 2008 Accomplishments

 

For more information on Learn.com, please visit www.learn.com

 

 
Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , , , , , , , , , , , | Permalink
Posted by mattlafata

ADP and Kronos Extend Long-Standing Relationship…from Kronos

December 8, 2008

 

ADP participated in the HRchitect Beauty Pageant on Talent Acquisition Systems on November 14, 2008, with their ADP VirtualEdge product.

 

ADP Employer Services, a leading provider of HR, payroll, and benefits administration services, and Kronos Incorporated, a recognized leader in helping organizations manage their workforce, recently announced that they have signed a five-year contract extension for ADP to provide time and labor management software and timeclocks from Kronos under the Enterprise eTIME brand.

 

Through their partnership, ADP and Kronos are committed to offering industry leading solutions that enable mid- and large-sized organizations to better control labor costs and optimize their workforce.

 

For more information about ADP’s Enterprise eTIME solution, please visit www.adp.com.

Matt Lafata, HRchitect

Leave a Comment » | Uncategorized | Tagged: , , , , , , , | Permalink
Posted by mattlafata

Follow

Get every new post delivered to your Inbox.