SAP and SuccessFactors Accelerate Unified Product Direction…from SuccessFactors

February 22, 2012

 

Companies Deliver Immediate Clarity on HCM Product Road Map

HRchitect featured SuccessFactors in our 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. Matt Lafata and Tiffany Appleby from HRchitect attended and sponsored the SuccessConnect event in San Francisco in May 2011 and the Insights event in San Diego in Oct 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 15 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!

 

SAP and SuccessFactors, an SAP company, today announced their unified product direction for human capital management (HCM) solutions. The combined portfolio will provide end-to-end integrated solutions to help with some of the biggest challenges that business leaders around the world are facing across all lines of business: managing their talent to top performance and turning their strategies into actions and results.

Product Direction Across Core HR, Talent Management, HCM Analytics

HCM is gaining focus in the market as companies realize that nurturing top talent and fostering a united community of employees is critical to being a best-run business. The two companies are now combining SuccessFactors Business Execution (BizX) Suite with SAP solutions to provide the most comprehensive, innovative HCM offerings to benefit existing and prospective customers.

  • SuccessFactors Employee Central solution is the go-forward core human resources (HR) offering in the cloud. Backed by more than 25 years of experience from SAP in core HR, the solution is poised to grow exponentially as SAP will boldly invest in it. SAP will continue to offer the SAP® ERP Human Capital Management (SAP ERP HCM) solution on premise for core HR, now with regulatory support for 51 countries around the globe and an innovation road map of significant investments in functionality, user-experience, mobile and in-memory technology capabilities in the future.
  • For talent management, SuccessFactors Performance Management, SuccessFactors Compensation Management, SuccessFactors Recruiting and SuccessFactors Learning Management with social learning from SuccessFactors Jam will be the go-forward solutions. Talent management components from SAP ERP HCM will be continued with selected innovations for the next decade.
  • Analytics will continue as an important focus area within both SAP ERP HCM and the SuccessFactors product portfolios, leveraging significant assets such as SuccessFactors Workforce Analytics, SuccessFactors Workforce Planning, the SAP HANA™ platform and solutions from the SAP® BusinessObjects™ portfolio. People analytics will be revolutionized by putting SuccessFactors Workforce Analytics on SAP HANA. Together SAP and SuccessFactors can make unparalleled aggregate HR benchmark insights available in the cloud to hundreds of thousands of customers. The combination of SuccessFactors software and SAP HANA is one of the key priority areas for development of the BizX Suite, as it will help increase customer value by dramatically speeding existing processes, enabling access to large amounts of data in shorter periods of time and providing real-time access to information tailored to individual requirements.

“We’ve delivered this unified product direction for our BizX Suite within days of our tender offer close, demonstrating our agility and the power of our combined people, know-how and technologies,” said Lars Dalgaard, founder and CEO, SuccessFactors. “We are providing immediate clarity on our BizX road map to ensure we deliver the best possible suite of solutions for our customers. The customer must always win. We cannot wait to share more of what we’ll offer our customers in the next few months.”

 

Open Integration for All Customers

SuccessFactors will continue to support an open approach to connecting with third-party solution providers. Approximately fourteen percent of SuccessFactors customers currently run their systems side-by-side with SAP. In addition to providing enhanced value for joint customers, SAP and SuccessFactors will accelerate the development of integration solutions with third-party solution providers. For SAP customers, the two companies intend to deliver integration packages between the two offerings:

  • Cloud-based talent, core HR, recruiting, learning and social solutions, and workforce planning and analytics solutions from SuccessFactors; and
  • On-premise core HR from SAP

“We now have fantastic opportunities in combining SAP innovations with SuccessFactors’ expertise and assets in the cloud. We are already seeing amazing results by improving SuccessFactors Employee Central performance 1000x — from nine minutes to 200 milliseconds with SAP HANA, enabling HR executives to do real-time workforce analytics and planning,” said Dr. Vishal Sikka, member of the SAP Executive Board, Technology & Innovation. “Together with SuccessFactors, we are now able to offer our customers the most comprehensive, end-to-end HCM portfolio both on premise and in the cloud — from core HR and employee administration to talent management, strategic planning and workforce analytics.”

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

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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Cornerstone OnDemand, Inc. Announces Fourth Quarter and Fiscal Year 2011 Financial Results…from Cornerstone

February 15, 2012

 

  • Record full year gross revenue of $75.5 million, up 62% year-over-year
  • Record annual Bookings of $97.6 million, up 60% year-over-year
  • Record full year gross margin of 71%, up 400 basis points year-over-year
  • Annual dollar retention rate of 95%
  • Ended the year with over 800 clients and approximately 7.5 million users

 

HRchitect featured Cornerstone OnDemand in our first 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 and again on December 8, 2011. HRchitect attended and sponsored Cornerstone’s user conference in 2009 and 2010.

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 15 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!

 

Learning and talent management software provider Cornerstone OnDemand (NASDAQ: CSOD) recently announced results for its fourth quarter and fiscal year ended December 31, 2011.

Gross revenue for the fourth quarter of 2011 was $22.4 million, representing a 59% increase compared to the same period in 2010. Gross revenue for the full fiscal year of 2011 was $75.5 million, representing a 62% increase compared to the full fiscal year of 2010.

Bookings, which the company defines as gross revenue plus the change in deferred revenue, were $38.4 million for the fourth quarter of 2011, representing a 58% increase compared to the fourth quarter of 2010, and $97.6 million for the full fiscal year of 2011, a 60% increase compared to the full year 2010.  Deferred revenue at December 31, 2011 was $55.9 million, which was 65% higher than the balance at December 31, 2010.

“We had a strong finish to an outstanding first year as a public company,” said Adam Miller, President and CEO. “It is a testament to our team’s commitment to client success that we were able to sustain our high growth, maintain our exceptional rate of client retention, and continue to improve margins.”

“Now that both of our primary competitors—Taleo and SuccessFactors—are being acquired by ERP vendors,” Miller continued, “Cornerstone is well-positioned with the scale, opportunity and momentum to be the preeminent talent management provider for organizations of all sizes.”

Gross profit for the fourth quarter of 2011 was $16 million, representing a 128% year-over-year improvement compared to the same period in 2010.  Gross margin for the fourth quarter of 2011 was 71% compared to 63% in the same period in 2010. The 2010 period includes a reduction of revenue of $2.9 million associated with the issuance of a common stock warrant issued to ADP.  On a non-GAAP basis, gross margin for the fourth quarter of 2011 was 73% compared to 71% in the same period of 2010.

Gross profit for the full fiscal year of 2011 was $51.7 million, a 76% increase compared to 2010.  Gross margin for the full fiscal year of 2011 was 71% compared to 67% in the same period in 2010. On a non-GAAP basis, gross margin for the full fiscal year of 2011 was 73% compared to 70% in the same period in 2010.

Cornerstone’s loss from operations for the fourth quarter of 2011 was $4.6 million compared to a loss from operations of $6.3 million for the fourth quarter of 2010, reflecting the company’s continued investments in scaling its operations.

During the fourth quarter of 2011, net cash provided by operations was $4.9 million and the company generated approximately $4.2 million in unlevered free cash flow. For the full year, net cash provided by operations was $1.8 million and the company used approximately $1.4 million in unlevered free cash flow.
At December 31, 2011, the company’s total cash and cash equivalents were $85.4 million and accounts receivable were $34.1 million.

Cornerstone ended the year with 805 clients and approximately 7.5 million users, representing 67% and 52% year-over-year growth of the company’s client base and users, respectively.

In accordance with Generally Accepted Accounting Principles, or on a “GAAP” basis, Cornerstone’s net loss for the fourth quarter of 2011 was $5.0 million compared to net loss of $16.9 million for the same period in 2010.  Non-GAAP net loss for the fourth quarter of 2011 was $3.0 million, or $(0.06) per share compared to non-GAAP net loss of $3.4 million, or $(0.32) per share, for the same period in 2010.

Net loss for the full fiscal year 2011 was $63.9 million compared to net loss of $48.4 million for 2010.  Non-GAAP net loss for 2011 was $12.8 million, or $(0.32) per share compared to non-GAAP net loss of $10.2 million, or $(1.11) per share for 2010.

Non-GAAP results exclude, if applicable for each given period, common stock warrant charges, expenses related to stock-based compensation and related employer-paid payroll taxes, changes in the fair value of preferred stock warrants, accretion related to preferred stock, amortization of debt discount and issuance costs, fees related to the early retirement of debt, and expenses associated with the company’s withdrawn secondary offering.

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

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, and how HRchitect can help your organization, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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iCIMS-Sponsored Analyst Report Shows HR Technology is a Key Enabler of Organizational Success…from iCIMS

February 14, 2012

 

Aberdeen Group research reveals that recruitment technology drives significant business results

HRchitect featured iCIMS in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Adam Feigenbaum and Susan Vitale from iCIMS previously appeared on the HRchitect WebMingle.

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 15 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!

 

iCIMS, the leading provider of Software-as-a-Service (SaaS) talent acquisition solutions for the SMB market, recently co-sponsored the Aberdeen Group’s January 2012 Human Capital Management Trends report. In the study, Aberdeen found that Best-in-Class companies are using recruitment technologies to stimulate employee engagement, boost employee productivity, and improve customer satisfaction. The report outlines how efficient talent management processes drive measurable business improvements.

Aberdeen researched nearly 300 companies to determine how well they were performing on the core business of Human Capital Management: finding, engaging, and retaining talent. The report divided the 300 survey respondents into Best-in-Class (top 20%), Industry Average (middle 50%), and Laggard (bottom 30%). At Best-in-Class companies, 81% of employees rated themselves as “highly engaged,” 71% of positions had a ready and willing successor identified, and there was a 13% year-over-year improvement in hiring manager satisfaction.

A recruitment technology platform was found to be a key enabler of success for Best-in-Class organizations. A recruitment technology platform is currently in use at 62% of Best-in-Class companies, as opposed to 54% of average companies, and 46% of laggard companies.

“Excellence in human capital management results from a combination of strategies, capabilities and enabling technologies,” said Mollie Lombardi, co-author of the study and Research Director at the Aberdeen Group. “The Best-in-Class display a number of common core characteristics, one of which is an investment in world-class technology throughout most aspects of talent and workforce management.”

“iCIMS is honored to be sponsoring an Aberdeen Group study,” said Susan Vitale, Chief Strategic Officer, iCIMS. “The report reaffirms that strategic human capital initiatives require a robust technology infrastructure. iCIMS offers easy-to-use software with powerful reporting capabilities, backed by the industry’s best customer support, making it the ideal solution provider for organizations interested in achieving best-in-class performance in 2012 and beyond.”

The report notes that in 2012, the pressure of economic uncertainty is forcing organizations to operate more efficiently. Organizations looking to achieve the results needed to balance cost savings with quality investments. Recruiting will be measured on both its ability to fill positions as quickly and cost-effectively as possible, and its ability to increase the quality of the hires made.

For more information on iCIMS, please visit www.icims.com

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, and how HRchitect can help your organization, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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Oracle Buys Taleo…from Taleo

February 9, 2012

 

Adds Leading Talent Management Cloud Offering to the Oracle Public Cloud

HRchitect featured Taleo in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Taleo appeared on the HRchitect WebMingle on November 6, 2009. HRchitect attended the 2010 & 2011 TaleoWorld conference and HRchitect’s Matt Lafata, one of the industry’s leading talent management systems analysts, attended Taleo’s annual Sales and Services meeting in 2010 & 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 15 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!

 

Oracle today announced that it has entered into an agreement to acquire Taleo Corporation (NASDAQ: TLEO), a leading provider of cloud-based talent management for $46.00 per share or approximately $1.9 billion, net of Taleo’s cash and debt. Taleo’s Talent Management Cloud helps organizations attract, develop, motivate and retain human capital to improve performance and drive growth.

Together, Oracle and Taleo expect to create a comprehensive cloud offering for organizations to manage their Human Resource operations and employee careers. The combination is expected to empower employees and managers to effectively manage careers throughout their entire employment, enable organizations to retain talent and optimize costs, and improve the employee experience through faster on boarding and better collaboration with team members via social media.

The Board of Directors of Taleo has unanimously approved the transaction. The transaction is expected to close mid-year 2012, subject to Taleo stockholder approval, certain regulatory approvals and other customary closing conditions.

“Human capital management has become a strategic initiative for organizations,” said Thomas Kurian, Executive Vice President, Oracle Development. “Taleo’s industry leading talent management cloud is an important addition to the Oracle Public Cloud.”

“Taleo’s integrated cloud-based talent management solutions optimize how organizations hire, manage, develop and reward their employees and gives companies the intelligence needed to capitalize on their most critical asset — their people,” said Michael Gregoire, Chairman and CEO, Taleo. “Joining forces with Oracle gives us the opportunity to better serve our customers.”

For more information on Taleo, please visit www.taleo.com

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, and how HRchitect can help your organization, please visit www.HRchitect.com

 

 
Matt Lafata, HRchitect

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Ceridian Announces Definitive Agreement to Acquire Dayforce…from Ceridian

February 8, 2012

 

Ceridian to deliver complete Human Capital Management (HCM) Solution using the Dayforce Cloud Platform

HRchitect includes Ceridian our list of top HRMS vendors that businesses should consider. 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 15 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!

 

Ceridian Corporation, a leading global provider of human resources, payroll, benefits, tax filing, recruiting, workforce management software and payment solutions, announced today it has entered into a definitive agreement to acquire Dayforce Corporation. The acquisition underscores Ceridian’s commitment to cloud technology and builds on Ceridian’s February 2011 investment in Dayforce’s award-winning HCM platform.

“Innovation is a top priority at Ceridian. With this acquisition we are gaining development and delivery expertise and innovative technology that are the perfect complement to Ceridian’s experience, established customer base and tremendous market reach,” said Stuart C. Harvey, Jr., Ceridian’s chief executive officer and president. “We are well positioned to deliver the most advanced human capital management cloud platform in the industry.”

Ceridian introduced its new workforce management solution in 2011 using the Dayforce platform. The customer response to the new workforce management offering has been overwhelmingly successful, with over 450 accounts sold in less than a year.

“Our partnership with Ceridian has been a perfect match from the outset,” said David Ossip, Dayforce chief executive officer and president. “Ceridian’s large customer base and robust distribution channels are an ideal outlet for Dayforce’s innovation and development expertise.”

Ceridian’s new platform will be marketed as Dayforce|HCM and in 2012 will include human resources, payroll, benefits, self-service, time & attendance, and scheduling. Clients can access the solution via the web and on mobile devices.

Dayforce|HCM has been designed for both existing and new clients, including two-way interfaces with Ceridian’s current HR, payroll, benefits, and paycard solutions. This allows Ceridian’s 130,000 existing customers to benefit from the new Dayforce|HCM modules while continuing to use their existing Ceridian products.

The transaction is expected to close in March, at which time Ossip will become president of Ceridian Dayforce, the new organization responsible for the development and management of Ceridian’s Dayforce|HCM application and services. Closing of the transaction is subject to customary conditions, including approval of Dayforce’s shareholders and of the Canadian court with jurisdiction over the transaction.

To learn more about Ceridian, please visit www.ceridian.com

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, and how HRchitect can help your organization, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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WorkForce Software and Patersons Announce Strategic Alliance…from WorkForce Software

February 2, 2012

 

Partnership combines leading platforms for global payroll and workforce management solutions

Marc Moschetto, Vice President of Marketing, from WorkForce Software appeared on the HRchitect WebMingle on August 12, 2010. HRchitect’s Matt Lafata, one of the industry’s leading Talent Management Systems analysts, attended WorkForce Software’s Vision 2010 conference.

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 15 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!

 

WorkForce Software, the leading provider of workforce management solutions for organizations with complex labor policies and stringent compliance demands, today announced that it has partnered with Patersons, a leader in cloud-based global payroll delivery to clients in more than 160 countries. Under the terms of the agreement, WorkForce Software has developed a pre-configured interface between their award-winning EmpCenter suite of workforce management solutions and Patersons’ CloudPay platform. The combined offering empowers employers to fully comply with both national and local wage and hour regulations, reduce the complexity of payroll processes and practices, and gain greater insight into the day-to-day activities of their workforce.

WorkForce Software’s EmpCenter suite delivers a broad array of workforce management capabilities – from ‘traditional’ applications such as time and attendance, employee scheduling and analytics, to more specialized applications focused on absence and leave management, as well as mitigating risks associated with employee fatigue. Through EmpCenter’s flexible architecture and Software-as-a-Service (SaaS) deployment capabilities, WorkForce Software empowers clients to automate 100% of all pay rules and policies solely through configuration – no custom code, no cumbersome manual ‘work-arounds’ – from anywhere in the world.

Patersons’ CloudPay platform is a fully cloud-based global payroll solution that adapts to customer requirements and uses workflow and standardized processes to provide efficient and effective payroll management. A proven solution for multinational firms, CloudPay is trusted by customers in over 160 countries and in 20 different languages across the globe. The solution adheres to ISO27001, SSAE 16 and ISAE 3402 standards, enables permission-based secure Web access to all payroll data, and easily scales to meet the needs of Fortune 2000 companies.

“Patersons and WorkForce Software share a common vision and approach, as well as a unique corporate culture focused on innovation and client success,” stated Kevin Choksi, CEO of WorkForce Software. “Through this strategic alliance, we can deliver access to a more diverse, more complete solution to our international clients.”

“Regardless of where in the world our clients conduct business, stringent regulations and a keen eye on bottom line performance has placed a renewed focus on workforce management and payroll processes,” said Andrew Pearson, CEO of Patersons. “WorkForce Software’s field-proven expertise, combined with their rapidly-growing global client base, makes them an ideal partner for our organization.”

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

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, and how HRchitect can help your organization, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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Peoplefluent Promotes Isobel Harris to Chief Customer Officer…from Peoplefluent

January 6, 2012

 

New Role Created to Unify Product and Service Organizations into One Continuous Improvement Customer Relationship Strategy

HRchitect includes Peoplefluent in our list of top Talent Acquisition Systems vendors and top Talent Management Systems vendors that businesses should consider. 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 a strategic effort designed to drive continuous improvement across all customer relationships, Peoplefluent™, one of the industry’s leading Talent Management solutions providers, today announced the promotion of Isobel Harris to Chief Customer Officer (CCO) for Talent Management and Talent Acquisition reporting to the CEO. Harris is currently Senior Vice President of Professional Services, Support and Account Management.  Chris Caldon, Senior Vice President of Talent Management Sales, Larry Kurzner, Vice President of Business Development, and Didier Guzman, who today has also been promoted to VP of Professional Services and Support, will all report directly to Ms. Harris.

“While every one of our product and organizational decisions is driven by customer impact and benefit, today’s news extends that mission by actually defining organizational goals and the aligning departmental structure in terms of continuous improvement for customer success,” said Charles S. Jones, Chairman and CEO of Peoplefluent. “By merging all customer-facing roles, from pre to post sales, into a singular accountable organization, we align the business to deliver a single, complete customer solution.  In so doing, we are driving all business and product decisions around best customer outcomes, enhancing long-term customer relationship management and, importantly, delivering a more consistent customer experience.   We are pleased to be affirming our strong commitment to customer accountability, satisfaction and productivity with this change within our own business.”

Isobel Harris joined Peoplefluent in 2011 with more than 25 years of strong, effective leadership and a wealth of experience in the software industry. Prior to joining Peoplefluent, Ms. Harris held the position of Vice President and General Manager at Geac, where she had global responsibility for the growth and day-to-day leadership of three of the $450 million global enterprise software company’s largest business units.  With a proven track record, Ms. Harris has created results-oriented software organizations supporting multiple products and technologies in more than 50 countries.

Mr. Guzman was one of the early team members at Peoplefluent. During his 14-year tenure in the business, his depth of product understanding and his customer knowledge have made him an invaluable resource. Mr. Guzman was promoted to his new role as VP of Professional Services and Support from his position as Senior Director of Professional Services for North America. With a strong background in technology, he was also Director of Technical Services and Support.  In his early days with the Company, as Managing Architect, Mr. Guzman was a lead developer for some of the Company’s cornerstone products.

Under Ms. Harris’ direction, Mr. Caldon will oversee all direct sales activity with new and existing customers, Mr. Kurzner will focus on delivering Peoplefluent’s award-winning Talent Management product innovations through new strategic channel relationships, and Mr. Guzman will now oversee the Service and Support functions. This important integrated group will work together to focus on the long-term cultivation, continuous improvement and optimization of solutions and services across Peoplefluent’s entire customer base.

To learn more about Peoplefluent, please visit www.peoplefluent.com

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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Salesforce.com Signs Definitive Agreement to Acquire Rypple – First Step Toward Human Capital Management for the Social Enterprise…from Salesforce.com

December 15, 2011

 

Acquisition marks salesforce.com’s first step into Human Capital Management

Rypple’s next generation social performance management app to be re-launched as “Successforce”

New HCM business unit to be run by John Wookey

Rypple to extend value of existing salesforce.com products

Hundreds of companies like Facebook, Gilt Groupe, and Spotify embrace Rypple’s new social model to empower teams to share goals, recognize great work, and improve performance

 

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!

 

Salesforce.com [NYSE: CRM], the enterprise cloud computing company, today announced it has entered into a definitive agreement to acquire Rypple, a cloud-based social performance management company. The acquisition signifies salesforce.com’s entry into the human capital management (HCM) market for the social enterprise. Salesforce.com plans to re-launch Rypple as “Successforce” and create a new HCM business unit, which will be run by John Wookey. Rypple’s unique social technologies will also extend the value of salesforce.com’s existing core products. The transaction is expected to close in salesforce.com’s fiscal first quarter ending April 30, 2012, subject to customary closing conditions.

Comments on the News
• “Salesforce.com and Rypple share a vision for extending the social enterprise to transform the way we work,” said Marc Benioff, chairman and CEO, salesforce.com. “The next generation of HCM is not just about a cloud delivery model, it’s about a fundamentally better way to recruit, manage and empower employees in a social world.”
• “Our social enterprise strategy continues to accelerate, and is at the root of the broad-based transformation and innovation we are seeing from customers today,” said John Wookey, executive vice president, advanced applications, salesforce.com. “With the launch of Successforce, salesforce.com plans to revolutionize HCM starting with an exciting social performance management app that will delight millions of employees around the world.”
• “We chose Rypple to be the core of Facebook’s employee performance management platform because it’s designed from the ground up to be social,” said Tim Campos, CIO, Facebook. “We are delighted to see it become part of salesforce.com’s social enterprise strategy.”
• “Rypple was designed from the start to be fun, social, and mobile–an app that can delight managers and employees in entirely new ways,” said Daniel Debow, co-CEO and co-founder, Rypple. “As the leading social enterprise company with more than 100,000 customers worldwide, salesforce.com will allow us to not only strengthen our offering for the hundreds of high-performing organizations that use Rypple today, but also scale it to reach many more.”
• “We took the science of team performance and applied the collaborative, transparent, and real-time power of social networks to create a completely new model for managing people and the work they deliver,” said David Stein, co-CEO and co-founder, Rypple. “Salesforce.com gives us the opportunity to apply our expertise and extend our vision for Rypple with Successforce.”

Salesforce.com Redefines HCM for the Social Enterprise
Traditional HCM software that many businesses use today was designed 30 years ago for personnel departments whose goal was to minimize the cost and risk of employing people. While HCM software hasn’t changed in decades, the way people work has radically changed.

Today’s workforce demands new performance and leadership tools that are completely transparent and allow employees to be connected to their company’s mission and each other. Social enterprises and progressive HR leaders are embracing apps like Rypple, which focus on the inherent social nature of performance management—goal setting, feedback, recognition and continuous dialogue—to help employees align more effectively around the company mission.

The acquisition of Rypple and its planned re-launch as Successforce signify salesforce.com’s entry into the HCM market. The company plans to expand into other areas with a new social model that will revolutionize the way companies recruit talent, build teams, empower employees and achieve results.

The new HCM business unit, including Successforce, will be led by John Wookey, salesforce.com’s executive vice president of advanced applications. Wookey comes to salesforce.com with more than 20 years of experience in enterprise software, including senior leadership positions at Oracle and SAP.

Extending the Value of Salesforce.com’s Existing Products
A social revolution is taking place today. The number of social networking users has surpassed e-mail users. Nearly a quarter of all time spent online is spent on social networks like Facebook. People access the Internet more from mobile devices than from desktops. Today, companies must change the way they collaborate, communicate and share information with customers and employees to stay competitive. Salesforce.com is helping companies meet the challenge of this social revolution with its social enterprise strategy.

With this acquisition, salesforce.com will embed some of Rypple’s next-generation features into its existing products. For example, people will be able to thank colleagues, win badges and provide recognition – all from within Salesforce Chatter. And customers of core Salesforce products – the Sales Cloud, Service Cloud, and Force.com platform – will be able to connect with new employee feedback tools to help drive business goals and power the future of their employee social networks.

For more information, please visit www.salesforce.com

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, and how HRchitect can help your organization, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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Saba Announces Learning Management Exchange Program for Plateau and SuccessFactors Customers…from Saba

December 7, 2011

 

Special Offer Provides Access to the Saba People Cloud to Leverage an Organization’s Most Valuable Competitive Advantage — Its People

HRchitect featured Saba in our 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. A.G. Lambert, the VP of Marketing with Saba appeared on the HRchitect WebMingle on August 14, 2009. Matt Lafata with HRchitect attended the 2010 Saba Global Summit and Analyst Day in Boston, MA. Matt Lafata & Tiffany Appleby attended the Saba Global Sales Rally FY12 in June 2011 in Redwood City, CA.

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!

 

Saba (NASDAQ: SABA), the premier People Cloud provider, today announced a learning management exchange program for qualified SuccessFactors learning customers (formerly Plateau). Available now, this offer is designed to give SuccessFactors customers the opportunity to switch, risk-free, to the Saba People Cloud platform, which includes its award-winning Saba Learning Management application. Saba delivers seamless blended learning in the industry’s only unified People Cloud platform to help organizations transform the way they work, thereby driving productivity to the extended enterprise, achieving greater compliance, mitigating risk, shortening time to productivity, and accelerating the pace of innovation.

Qualified SuccessFactors customers with active contracts will be entitled to a significant discount of Saba’s People Cloud platform, including equivalent subscription contracts at no charge for up to one year. Additionally, Saba will include Saba Centra Real-Time Collaboration and Saba Social with these exchanges at no additional charge for up to one year. Migration programs, tools, and special services packages will also be available to reduce the time, expense and risk of moving to the Saba People Cloud platform. With enterprise social networking, informal learning and real-time collaboration all in one unified platform, organizations can improve ROI, enhance engagement, and cultivate a true talent development culture. This exchange program is in effect and available immediately; qualified SuccessFactors customers will have until May 31, 2012 to take advantage of this special Saba offer.

“Saba continues to focus on delivering exceptional customer success, as well as an innovative and compelling product roadmap, which is aligned with our vision to enable organizations to transform the workplace for competitive advantage,” said Karen Steele, senior vice president corporate marketing, Saba. “Through this learning management exchange program, we are making it easy for organizations to improve how all of their people learn, grow and meet the challenges of a new world of work.”

The Saba People Cloud

The Saba People Cloud is a unified, people-centric and social platform designed to transform the way people work. Saba People Cloud Applications include Learning Management, Talent Management, Enterprise Social Networking and Real-Time Collaboration, all of which help organizations become more competitive through increased visibility, speed and agility. The Saba People Cloud is highly scalable and interoperable with HRIS, financial, and ERP systems. Additionally, the platform is built to help organizations and their people be more competitive by enabling:

  • Global and local scale to the level, reach and complexity customers need from a single, open platform
  • Prescriptive analyses of past behaviours, training and performance for actionable insights
  • Always on, always accessible collaborative environment designed to work across the entire people network to ensure access to everyone in the entire value chain anytime, anywhere and from any device.

 

Market Leading Learning Solution

Saba Learning Management provides unique capabilities to support sophisticated extended enterprise learning. With its mobile and social learning capabilities, it allows employees, customers and partners to rapidly connect, share, and retain the knowledge. Saba has received numerous accolades for its Learning Management Application, including:

 

For more information on Saba, please visit www.saba.com

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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SumTotal Advances the Customer Experience in HCM Solutions with Appointment of New SVP…from SumTotal Systems

December 3, 2011

 

HRchitect featured SumTotal Systems in our 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. SumTotal Systems appeared on the HRchitect WebMingle on May 1, 2009. SumTotal Systems also competed in the HRchitect Beauty Pageant on Employee Performance Management Systems in February 2009, where they were crowned the winner. Dave Watkins, Softscape’s CEO and Co-Founder appeared on the HRchitect WebMingle on June 19, 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!

 

SumTotal® Systems, Inc., the innovator in strategic Human Capital Management (HCM) solutions, recently announced the appointment of David Osborne to Senior Vice President of Professional Services at SumTotal, overseeing worldwide services of all strategic Human Capital Management solutions for customers.

“SumTotal is on the cutting edge, not only in advanced end-to-end HCM technology, but also in how it services and supports its customers,” Osborne said. “It’s exciting to have a role at a leading organization that truly recognizes the value and importance of genuine customer satisfaction. I’m looking forward to the opportunities ahead as SumTotal continues to innovative and advance the overall customer experience in strategic HCM solutions.”

Osborne brings over 17 years of professional services experience, including managing large worldwide workforces, profit & loss management, account management, and global operations. He joins SumTotal from Lawson Software, where he served in senior global management roles and was responsible for running delivery operations for Lawson’s Enterprise Resource Planning and Human Capital Management products and Application Managed Services (AMS).

“David joins the SumTotal team at a critical juncture in our growth, as we further advance our customer experience and deliver even greater value for our global customers,” said CEO John Borgerding. “We’re thrilled to have David at the helm of Professional Services and helping to ensure our customers know that with SumTotal they’re not just getting a software solution – they’re getting a partner in strategic HCM.”

For more information about SumTotal, visit the company’s website at www.sumtotalsystems.com.

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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HRchitect Celebrates New Corporate Office with Ribbon Cutting

November 17, 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!

 

HRchitect, the leader in HR systems strategic consulting and the premier Human Capital Management (HCM) and Talent Management systems consulting firm, celebrated the opening of their new corporate office location this week with a ribbon cutting and open house.

HRchitect’s steady growth over the past few years dictated the need for expanded office space.

“Our future plans are projecting even greater growth than what we have been experiencing over the last few years,” commented Matt Lafata, president of HRchitect.  “Our new offices have provided us with 50% more space to accommodate these plans and also offer a more comfortable, pleasant environment for our employees, clients, prospects and partners to function and be productive in.”

Frisco’s Chamber of Commerce was on-hand to celebrate the new space with a ribbon cutting for the firm.  HRchitect has been a member of the Chamber for many years and was the recipient of the Frisco Chamber Medium Business of the Year award in 2009.

“The Frisco Chamber has done an outstanding job creating an effective forum that allows businesses in Frisco to network and exchange ideas, strategies and business opportunities,” stated Rick Fletcher, founder and vice president of HRchitect.  “We’ve picked up not only new clients and business partners, but we have also found many of our management team members and employees through the many networking events.  Frisco definitely has some of the most talented business professionals available in the country.”

The wealth of talent in the community played a large part in the decision to keep HRchitect’s headquarters in Frisco as all of the firm’s corporate-based employees live in Frisco.  HRchitect’s new and previous offices both exist within Frisco Square, a mixed-use development in the heart of the community.

“When searching for new office space it was very important for us to stay in the same area,” continued Lafata.  “All of our employees really enjoy working close to home.  Frisco Square offers the convenience of location as well as restaurants and shops that are within walking distance of our office.”

Headquartered in Frisco are the firm’s sales, marketing, and administration departments, along with some of its consulting functions. However, as a global organization, the majority of the consulting team is spread across North America, allowing for increased accessibility to HRchitect’s clients.

To learn more about how HRchitect’s HR systems and strategy expertise visit www.HRchitect.com.

 
Matt Lafata, HRchitect

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Oracle’s PeopleSoft HCM 9.1 Feature Pack 2 Delivers New HR Self Service User Experience with Secure Enterprise Search and Related Action Navigation Framework…from Oracle

November 10, 2011

 

New Pagelet Based Views For Managers Provide Insight Into Organizations and Talent in One Configurable Personalized View

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!

 

News Facts

  • To help managers better perform their day-to-day activities, Oracle today announced the availability of PeopleSoft HCM 9.1 Feature Pack 2.
  • Designed to change the way managers and employees use self-service HR, the new PeopleSoft HCM 9.1 applications offer a consumer-like self-service user experience that helps transform the way employees and managers perform their day-to-day activities.
  • A new search-based, menu-free navigation capability allows users to easily locate and navigate to relevant information quickly and in context from any page. PeopleSoft leverages a powerful global search capability that goes beyond simple transaction based search. Delivered search results have filtering and specific related actions based on defined roles and security of the user. For example, a manager can now simply type in part of an employee’s first or last name and receive meaningful results from documents related to performance, compensation, learning, recruiting, career planning and more. Key HCM data is indexed to speed the search process and improve search relevancy.
  • A new design provides greater personalization using pagelets that are designed to make PeopleSoft HCM easier to use, with a more appealing user interface, as well as reduced click counts on key transactions.
  • The feature pack includes a new Manager Dashboard, Talent Summary, Matrix Organization, and Pivot Grid functionality, among other new capabilities.
  • Oracle’s Feature Packs delivery method underscores its commitment to provide new functionality between major releases. Feature Packs enable a quicker response to PeopleSoft customer requests, while giving customers the ultimate choice of how and when to deploy the new functionality to their users.

PeopleSoft HCM 9.1 Feature Pack 2 Contents and Features

  • PeopleSoft Manager Dashboard includes a home page that consolidates key management, staff, and business unit data into a single at-a-glance access point to view and transact in context. Its content is configurable to support key metrics and decisions via individual drag-and-drop pagelets enabled by new PeopleTools technology.
  • PeopleSoft Talent Summary provides a unified view of talent management-related data for an individual employee in a talent roster profile format. Administrators can select the content of pagelets that will appear on the Talent Summary based on the organization’s priorities, and managers personalize the page based on their preferences for presentation layout and areas of emphasis.
  • Talent Summary also includes graphical representations of PeopleSoft’s Performance & Potential Matrix nine box grid that provides managers a quick assessment of their employee’s performance against their potential and their impact of loss against the risk of them leaving. This matrix is used by managers to help ensure their personnel are appropriately compensated and operating at or near their maximum potential.
  • More than 70 manager and employee self-service transactions have been tied into the related action framework.
  • In PeopleSoft HCM 9.1 Feature Pack 2, click counts on the self service transactions have been reduced by nearly 50 percent on average, depending on the transaction, as a result of streamlining. In addition, all transactions that use the direct reports interface have reduced click counts by at least two clicks due to an updated design.
  • PeopleTools 8.52 introduces the new Pivot Grid feature for operational reporting. The Pivot Grid is a new analytic capability that gives users the ability to quickly and easily pivot and filter data within PeopleSoft applications without having to export data to an external spreadsheet or data warehouse. Data for pivot grids is generated by PS Query and can be rendered in charts or analytical grids. Users can add pivot grids to application pages or pagelets.
  • Additional features delivered with the Feature Pack 2 include:
    • Matrix or Dotted-Line Relationship Management, which addresses the challenge of tracking and maintaining project-based organizations that cut across the enterprise and geographic regions.
    • Interactive Company Directory, which enables users to connect and collaborate directly with other employees and launch employee transactions or changes.
    • Total Rewards Statement, which provides employees with a more complete view of their compensation and benefits by pooling rewards data from multiple data sources.
    • Talent Management 9.1 to HCM 8.9 Integration for Recruiting Solutions, which provides a complete set of integrations for PeopleSoft HCM 8.9 and 9.0 customers.

Supporting Quotes

“Oracle’s PeopleSoft HCM 9.1 Feature Pack 2 delivers a new navigation paradigm for our HCM community,” said Paco Aubrejuan, group vice president, Oracle’s PeopleSoft. “We listened to our HCM customers and focused on delivering features like Manager Dashboard and Talent Summary to help managers be more productive at managing their resources, better utilize and reward their employees, and gain valuable insight into their organization and talent pool.”

“With the release of Oracle’s PeopleSoft HCM 9.1 Feature Pack 2, Sonoco believes we will see increased use of Manager Self Service with Manager Dashboard, providing managers personalized one-click access to vital employee information and manager tasks from one central location to meet their specific requirements,” said Greg Brigman, manager, Human Resources Information Systems, Sonoco. “The additional matrix relationship will significantly enhance usability of both Core HR and Talent Management by enabling additional reporting from both the direct line manager and a matrix manager without the need to create costly customizations.”

For more information on Oracle, please visit www.oracle.com

 
Matt Lafata, HRchitect

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Taleo Expands Its Presence in Germany…from Taleo

November 9, 2011

 

Global Provider of Talent Management Solutions Responds to Continuous Market Growth

HRchitect featured Taleo in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Taleo appeared on the HRchitect WebMingle on November 6, 2009. HRchitect attended the 2010 & 2011 TaleoWorld conference and HRchitect’s Matt Lafata, one of the industry’s leading talent management systems analysts, attended Taleo’s annual Sales and Services meeting in 2010 & 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!

 

Taleo Corporation (NASDAQ: TLEO), the global leader of SaaS-based Talent Management solutions, today announced the broadening of its presence in Germany by expanding its facilities and staff in Taleo’s Frankfurt offices and datacenter. The expansion efforts build on Taleo’s July acquisition of Jobpartners, a move that doubled the company’s European customer base and professional staff.

“As social media and mobile technologies move Talent Management processes from the filing cabinet to the cloud, SaaS-based Talent Management is becoming an integral part of successful business management,” said Michael Gregoire, Chairman and CEO of Taleo. “As today’s announcement shows, Taleo is committed to a sustained, long-term investment strategy to pursue the opportunities we have identified in Germany. In fact, our goal is to generate a significant amount of new bookings from Germany over the next three years.”

Investments in Local Team and Facilities
Even before the Jobpartners acquisition, Taleo maintained numerous international customers deployed in Germany. Now, by leveraging the combined presence and expertise of Taleo and Jobpartners, the company can offer its German clients broader product and service capabilities. For example, Taleo will expand its existing datacenter presence in Germany and intends to further grow its Frankfurt-based team. Taleo will expand existing German-speaking technical support, sales, client executive, and implementation consulting resources, and is already hiring new positions for marketing leadership, inside sales and solution consulting in Germany.

Established Provider for Talent Management Solutions
Taleo has a European customer base of more than 250 clients. With more than 5,000 customers worldwide, Taleo supports dozens of large enterprise-class clients in Germany, including Deloitte, Ernst & Young, Mars, Merck, Procter & Gamble, and Roche. Globally, Taleo serves customers in 187 countries and employs more than 1,500 people worldwide.

Taleo’s SaaS-based Talent Management solutions optimize recruiting, performance management, learning and compensation, and arm organizations with Talent Intelligence, which is the insight companies need to grow their business by capitalizing on their most critical asset — their people. By tapping the world’s largest and most scalable Talent Management Cloud, Taleo delivers up-to-date information and increased visibility into candidates and employees so managers can see the talent that is powering their organization and better understand how to recruit, retain, and mobilize that talent. Every day, Taleo customers rely on Talent Intelligence to identify, develop, compensate, and retain the top performers that drive business results.

For more information on Taleo, please visit www.taleo.com

 
Matt Lafata, HRchitect

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Jobvite and Workday Partner to Integrate Leading Recruiting and Human Resources Platforms …from Jobvite

October 27, 2011

 

Combined offering from SaaS innovators engages employees to improve the speed and quality of hiring

Dan Finnigan, CEO, and Jamie Glenn, Chief Product Officer with Jobvite both appeared on the HRchitect WebMingle on July 8, 2010. 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!

 

This week at Workday Rising 2011, Jobvite, the leading recruiting platform for the social web, announced a partnership with Workday, the leader in SaaS-based enterprise solutions for global human resources, payroll and financial management. Jobvite will integrate its award-winning social recruiting and applicant tracking innovations with Workday Human Capital Management (HCM).

Jobvite provides social recruiting technologies on a subscription basis that work across social networks and lead the market in their proven ability to drive referral hires. Jobvite enables jobs to be shared across social networks, on websites and via email not just by recruiters and hiring managers but by every employee of its client companies. The company’s Software-as-a-Service products automate all of the steps in the hiring process and provide complete visibility via real time analytics.

The Jobvite integration with Workday will lower cost and implementation time for connecting these leading solutions for recruiting and human capital management. It will enable customers of both solutions to plug Jobvite into their Workday infrastructure and seamlessly share current data across platforms.

“One of the benefits of cloud-based SaaS solutions is the flexibility to choose the best solutions to meet business needs. HR leaders have asked for us to integrate with Workday because it has been built from the ground up for today’s business consumer of web-based services,” said Dan Finnigan, President and Chief Executive Officer of Jobvite. “Now our joint customers can integrate company directory into Jobvite making it easy to engage all employees in referral hiring and manage a productive recruiting process.”

Our companies share a philosophy about enabling employees throughout the company to be productively engaged in managing key business processes. We’re happy to partner with Jobvite to bring valuable social recruiting and applicant tracking innovations to our loyal Workday customers,” said Jeff Pulver, Workday’s vice president, business development.

For more information on Jobvite, please visit www.jobvite.com

 
Matt Lafata, HRchitect

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Ultimate Reports Q3 2011 Financial Results…from Ultimate Software

October 27, 2011

 

Recurring Revenues Up by 24%, Total Revenues Up by 19%

HRchitect includes Ultimate Software in our list of top HRIS vendors that businesses should consider. 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!

 

Ultimate Software (Nasdaq: ULTI), a leading provider of unified human capital management SaaS solutions for global businesses, announced today its financial results for the third quarter of 2011. For the quarter ended September 30, 2011, Ultimate reported recurring revenues of $54.7 million, an increase of 24%, and total revenues of $67.8 million, an increase of 19%, both compared with 2010’s third quarter. GAAP net income for the third quarter of 2011 was $1.1 million, or $0.04 per diluted share, the same as the third quarter of 2010.

For the three months ended September 30, 2011, non-GAAP net income was $4.9 million, or $0.18 per diluted share, versus non-GAAP net income of $3.5 million, or $0.13 per diluted share, for the third quarter of 2010. Non-GAAP net income for both periods excludes non-cash stock-based compensation expense and amortization of acquired intangible assets. See “Use of Non-GAAP Financial Information” below.

“We again performed according to plan for both our recurring and total revenues in this year’s third quarter. Our operating margin was on the positive side of our 12% target at 12.7%, and our customer retention rate remained consistent at greater than 96%,” said Scott Scherr, CEO, president, and founder of Ultimate.

“We strengthened the strategic power of our unified talent management suite with the release of UltiPro Succession Management in the third quarter. We continued to execute in Canada, and our new customers in both our Enterprise and Workplace markets continued the trend of expanding the value of their UltiPro purchases by adding talent management and time management product components.”

Financial Highlights

  • Recurring revenues grew by 24% for the third quarter of 2011 compared with 2010’s third quarter, primarily due to revenue growth from our Software-as-a-Service (SaaS) offering. Recurring revenues for the third quarter of 2011 were 81% of total revenues as compared with 77% of total revenues for the same period of last year.
  • Ultimate’s annualized retention rate exceeded 96% for its existing recurring revenue customer base.
  • The operating income (or operating margin), on a non-GAAP basis, for the third quarter of 2011 was $8.6 million (or 12.7%) compared with $5.8 million (or 10.2%) for the third quarter of 2010.
  • Cash flows provided by operating activities for the nine months ended September 30, 2011 increased by 45% to $23.6 million from $16.2 million for the same period in the prior year.
  • The combination of cash, cash equivalents, and marketable securities was $52.2 million as of September 30, 2011, compared with $50.2 million as of December 31, 2010.
  • Days sales outstanding were 63 days at September 30, 2011, representing a reduction of 9 days compared with days sales outstanding at December 31, 2010.

Stock Repurchase Plan

During the quarter ended September 30, 2011, we repurchased 197,310 shares of our issued and outstanding $0.01 par value common stock (“Common Stock”) for $9.4 million, under our previously announced stock repurchase plan (“Stock Repurchase Plan”). During the nine months ended September 30, 2011, we repurchased 346,988 shares of our issued and outstanding Common Stock for $17.3 million, under our Stock Repurchase Plan. As of September 30, 2011, we had 58,187 shares available for repurchase in the future under our Stock Repurchase Plan.

On October 24, 2011, our Board of Directors extended the Stock Repurchase Plan (originally approved by the Board in late 2000) by authorizing the repurchase of up to 1,000,000 additional shares of our Common Stock. Accordingly, an aggregate of 1,058,187 shares of Common Stock are available for repurchase under the Stock Repurchase Plan as of today’s date. The extent and timing of repurchase transactions will depend on market conditions and other business considerations.

Financial Outlook

Ultimate provides the following financial guidance for the fourth quarter ending December 31, 2011, the 2011 full year and preliminary financial guidance for the 2012 full year:

For the fourth quarter of 2011:

  • Recurring revenues of approximately $57.0 million;
  • Total revenues of approximately $72.0 million; and
  • Operating margin, on a non-GAAP basis (discussed below), of approximately 16%.

For the year 2011:

  • Recurring revenues to increase by approximately 25% over 2010;
  • Total revenues to increase by approximately 18% over 2010; and
  • Operating margin, on a non-GAAP basis (discussed below), of approximately 12%.

For the year 2012, preliminary:

  • Recurring revenues to increase by approximately 25% over 2011;
  • Total revenues to increase by approximately 23% over 2011; and
  • Operating margin, on a non-GAAP basis (discussed below), of approximately 15%.

Operating margin expectations were determined on a non-GAAP basis using the methodologies identified under the caption “Use of Non-GAAP Financial Information” in this press release. Non-cash stock-based compensation expense for 2011 and 2012 is expected to be approximately $15.5 million and $19.0 million, respectively.

For more information on Ultimate Software, please visit www.ultimatesoftware.com

 
Matt Lafata, HRchitect

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