Ultimate Reports Q4 and Year-End 2011 Financial Results…from Ultimate Software

February 11, 2012

 

  • Record Q4 Recurring Revenues of $57.1 Million, a 24% Year-over-Year Increase
  • Record Q4 Total Revenues of $72.7 Million, a 20% Year-over-Year Increase
  • Record 2011 Recurring Revenues of $213.8 Million, a 25% Year-over-Year Increase
  • Record 2011 Total Revenues of $269.2 Million, an 18% Year-over-Year Increase

HRchitect includes Ultimate Software in our list of top HRIS vendors that organizations 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!

 

Ultimate Software (Nasdaq:ULTI), a leading cloud provider of people management solutions for global businesses, announced today its financial results for the fourth quarter and year ended December 31, 2011. For the quarter ended December 31, 2011, Ultimate reported recurring revenues of $57.1 million, an increase of 24%, and total revenues of $72.7 million, an increase of 20%, both compared with 2010’s fourth quarter. GAAP net income for the fourth quarter of 2011 was $2.0 million, or $0.07 per diluted share, versus $1.4 million, or $0.05 per diluted share, for the fourth quarter of 2010.

Non-GAAP net income, which excludes non-cash stock-based compensation expense and amortization of acquired intangible assets, was $6.6 million, or $0.24 per diluted share, an increase of 41%, for the fourth quarter of 2011 compared with non-GAAP net income of $4.6 million, or $0.17 per diluted share, for the fourth quarter of 2010. See “Use of Non-GAAP Financial Information” below.

For 2011, recurring revenues increased 25% to $213.8 million, and total revenues increased 18% to $269.2 million, both as compared with the prior year. For 2011, GAAP net income was $4.3 million, or $0.15 per diluted share, compared with GAAP net income of $2.2 million, or $0.08 per diluted share, for 2010. For 2011, non-GAAP net income was $18.1 million, or $0.65 per diluted share, compared with non-GAAP net income of $12.8 million, or $0.47 per diluted share, for 2010.

“Our fourth quarter and 2011 financial results were in line with our expectations, and we are pleased to close the year with a customer retention rate greater than 96% once again,” said Scott Scherr, CEO, president, and founder of Ultimate. “Our new customers in the fourth quarter added talent management products to their core UltiPro purchases at a healthy pace. The Q4 and 2011 year attach rates for our talent management feature-sets indicate that human resources decision-makers continue to have a strong desire for unified, strategic people-management solutions.”

“We are honored to have been ranked #25 on FORTUNE’s 2012 ‘100 Best Companies to Work For’ list. We have always considered our employees our greatest asset and the most powerful force behind high-quality products and services,” added Scherr. “Our historic commitment to people is reflected in our new branding and our new tagline, People First.”

Financial Highlights

  • Recurring revenues grew by 24% for the fourth quarter of 2011 and by 25% for the 2011 year – primarily due to revenue growth from our Software-as-a-Service (SaaS) offering – both versus comparable 2010 periods. Recurring revenues for the fourth quarter of 2011 were 79% of total revenues versus 76% of total revenues for 2010’s fourth quarter. Recurring revenues were 79% of total revenues for the 2011 year versus 75% for 2010.
  • Ultimate’s total revenues for the fourth quarter of 2011 increased by 20% compared with those for the fourth quarter of 2010. Ultimate’s total revenues for 2011 increased by 18% compared with those of 2010.
  • 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 fourth quarter of 2011 was $11.4 million (or 16%) compared with $7.9 million (or 13%) for the fourth quarter of 2010. Non-GAAP operating income (or non-GAAP operating margin) for 2011 was $31.5 million (or 12%) compared with $21.8 million (or 10%) for 2010.
  • Net income, on a non-GAAP basis, for the fourth quarter of 2011 increased to $6.6 million compared with $4.6 million for the fourth quarter of 2010. Non-GAAP net income for 2011 increased to $18.1 million compared with $12.8 million for 2010.
  • Ultimate generated $4.8 million in cash from operations for the fourth quarter ended December 31, 2011. For the year ended December 31, 2011, we generated $28.4 million in cash from operations and repurchased 346,988 shares of our common stock for $17.3 million under our stock repurchase plan. As of December 31, 2011, Ultimate had 1,058,187 shares available for repurchase in the future under our stock repurchase plan. The combination of cash, cash equivalents, and marketable securities was $55.3 million as of December 31, 2011, compared with $50.2 million as of December 31, 2010.
  • Days sales outstanding were 71 days at December 31, 2011, representing a reduction of one day compared with days sales outstanding at December 31, 2010.

 

Business Highlights

  • Ultimate added Succession Management to its suite of cloud solutions for managing employees from recruitment through retirement. UltiPro Succession Management involves both management and individual employees in an ongoing, collaborative process. Employees can manage their own talent profiles — updating factors that influence succession readiness such as mobility preferences, languages, education, accomplishments, and competencies — to ensure that leadership has a rich understanding of the company’s talent landscape while company executives have the flexibility to develop succession plans for jobs, talent pools, or individuals.
  • Co-sponsored by Dell and IBM, we held our Ultimate Partner Forum, known as Connections, in March 2011 and had the largest attendance in our history — 820 attendees. Our customers, partners, and HR industry influencers came to share ideas, hear about Ultimate’s future direction, and expand their peer networks. Ultimate’s 2012 Connections conference will be held on March 27-30, 2012 in Las Vegas.
  • A leading technology research, analysis, and advisory firm, Forrester Research, selected Ultimate as a Groundswell Award winner in October 2011. The Forrester Groundswell Awards recognize excellence in achieving business and organizational goals through innovation in social technology applications. Ultimate was a winner in the business-to-business “Embracing” category for its collaborative customer community called “Ideas.” Ultimate launched the Ideas community to help its customers share information, interact, and provide direct feedback on UltiPro. Previous winners of the Forrester Groundswell Awards include Microsoft, IBM, Starbucks, and Salesforce.com.
  • Ultimate won a SuperNova Award from Constellation Research in the advanced analytics category in November 2011. Ultimate’s Director of Business Intelligence and his team worked collaboratively with an Ultimate customer to develop a predictive analytics tool that HR leaders can use to monitor and address retention risks proactively.
  • Ultimate’s customer support center was awarded Service Capability & Performance (SCP) certification for best practices for the 13th consecutive year. The SCP Standards represent the global benchmark for service excellence and are recognized by leading technology companies around the world.
  • In January 2012, Ultimate was ranked #25 on FORTUNE’s “100 Best Companies to Work For” list, the first year that Ultimate applied for consideration. Ultimate is the only human capital management provider on the 2012 list and the highest ranked cloud vendor on the list. Ultimate was previously recognized twice as the #1 medium-sized company to work for in America by The Great Place to Work Institute.

 

Financial Outlook

Ultimate provides the following financial guidance for 2012:

 

For the first quarter of 2012:

  • Recurring revenues of approximately $60.0 million;
  • Total revenues of approximately $76.0 million; and
  • Operating margin, on a non-GAAP basis (discussed below), of approximately 6%.

 

For the year 2012:

  • 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 2012 is expected to be approximately $20.0 million.

For more information on Ultimate Software, please visit www.ultimatesoftware.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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NuView Systems Releases NuViewHR(R) v4.16…from NuView Systems

February 1, 2012

 

The New Release Showcases Software Flexibility and Global Expertise

HRchitect includes NuView in our list of top HRIS vendors that organizations 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!

 

NuView Systems, Inc, a global provider of Human Capital Management (HR) & Payroll solutions, announced today the release of NuViewHR version 4.16. NuView Systems continues to expand its global capabilities on its robust and flexible architecture by introducing innovative features in this newly released version, NuViewHR 4.16.

“This release is a direct result of client feedback from our focus group sessions and annual user conference,” said Shafiq Lokhandwala, CEO of NuView Systems, Inc. “We have a long-standing reputation as a true partner to our clients and we proactively solicit their valuable suggestions. NuViewHR 4.16 exemplifies vast software flexibility and improves user experience globally.”

Highlights of NuViewHR version 4.16 include:

Globalization

Expanding on the strong foundation that supports global deployment in multiple languages, this release includes new features, such as enhanced privacy, based on the regulator that makes implementation for global compliance much simpler. In addition, NuView has released country packs that include localization, global banking details, immigration, accrual rules, salary components and local benefits. The new release also has the ability to translate the product in 19 languages.

Reporting

In addition to the native reporting engine and delivered crystal reports from SAP, this release introduces a brand new report layout tool. 70+ reports have been completely laid out in SSRS (SQL Server Reporting Services), giving clients the ability to use a no-cost report layout tool that comes standard with Microsoft SQL Server.

Upgrade Management

We have improved the upgrade methodology and process by ensuring faster and more efficient upgrades. The average upgrade now takes less than three months and our newly developed tools will automate this process.

System Improvements

Desired improvements have been made to enhance the functionality, usability and scalability of the product, including: The ability to assemble multiple hierarchies used in matrix organizations; the improvement of cascading authorizations; increased task manager fault tolerance and the ability to store files directly in the database.

Additional Browser Support

Along with Internet Explorer 9 and Firefox, NuViewHR 4.16 now supports browsers Google Chrome and Safari.

For more information on NuView, please visit www.nuviewinc.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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Ultimate Software Ranks #25 on FORTUNE’s “100 Best Companies to Work For” List…from Ultimate Software

January 28, 2012

 

Top-Ranked Cloud Provider, Only Human Capital Management Provider on 2012 List

HRchitect includes Ultimate Software in our list of top HRIS vendors that organizations 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!

 

Ultimate Software, a leading cloud provider of people management solutions for global businesses, announced recently that Ultimate was named to FORTUNE’s 15th annual list of the “100 Best Companies to Work For.”

Before growing beyond the 1,000-employee threshold necessary to be eligible for consideration on FORTUNE’s list, Ultimate was ranked #1 on the medium-size company list of “Best Places to Work” in 2008 and 2009 by The Great Place to Work Institute, the same organization that evaluates companies for the FORTUNE list, and was ranked #3 in 2006 and 2007.

Ultimate wants to congratulate its customers who also made FORTUNE’s 2012 Best Companies to Work For list. A few of them are: Baker Donelson, Bright Horizons Family Solutions, Camden Property Trust, The Container Store, Google, JM Family Enterprises, NuStar Energy, Perkins Coie, and Quicken Loans.

“It has always been clear to us at Ultimate that treating our employees as our most important asset is the path to developing world-class products and services,” said Scott Scherr, CEO, president, and founder at Ultimate. “It’s simply the right way to do business, and our business results attest to the success of this philosophy.”

Ultimate has seen continuous growth in its recurring revenues for the past 10+ years. From 2006 to 2010, Ultimate grew its employee population by 82 percent. During the same timeframe, annual recurring revenues grew by 167 percent – more than double its employee count increase.

“Over the years, Ultimate has been able to attract the most talented people in our industry,” added Scherr. “They come with us because of our inclusive, family-like culture and our benefits plans that cover 100 percent of the premium for both employees and their families. They stay because of the respect they experience for their contributions and the fulfillment of working with other highly talented individuals in a team environment.”

Ultimate employees have long been known to be unusually talented, team-oriented, and loyal. Our employees’ long-term tenure translates into long-term customer relationships, knowledge retention, and low recruitment and training costs.

“I’ve been in this industry for more than 20 years, and I’ve never seen or worked anywhere that has the kind of culture and high-performing employees that Ultimate has. You can feel the energy and enthusiasm when you walk into the building,” said Cecile Alper-Leroux, vice president of product strategy and development, who joined Ultimate 18 months ago after working at other leading technology companies. “Ultimate truly is a great place to work, and I think the success of the company is an indicator that happy employees really do benefit the bottom line.”

For the last 18 months, Ultimate has been collecting data from our employees and customers and evaluating these responses to determine the core values Ultimate stands for. From this research, Ultimate developed a new logo and branding message that went live on January 23 and coincidentally aligned with our ranking on FORTUNE’s 2012 list. The core message of Ultimate’s values is clear in our new tag line, People First, and reflects why our people are so happy at Ultimate.

Ultimate develops, supports, and distributes cloud technology solutions for human resources, payroll, and talent management to companies of nearly all sizes in diverse industries. Ultimate helps organizations manage their workforces strategically and cost-effectively by providing them business intelligence analytics and administrative functionality in such areas as talent acquisition and onboarding, human resources management and compliance, benefits management and online enrollment, payroll, performance management, salary planning and budgeting for compensation management, succession management, career development, and time and attendance management.

FORTUNE partners with the Great Place to Work Institute(R) to select the 100 Best Companies and to conduct the most extensive employee survey in corporate America. Two-thirds of a company’s score is based on the results of the Institute’s Trust Index survey, which is sent to a random sample of employees from each company. The survey asks questions related to their attitudes about the management’s credibility, job satisfaction, and camaraderie. The other third of the scoring is based on the company’s responses to the Institute’s Culture Audit, which includes detailed questions about pay and benefits programs and a series of open-ended questions about hiring, communication, and diversity.

The full list and related stories will appear in the February 6 issue of FORTUNE and is available now at www.Fortune.com/BestCompanies.

For more information on Ultimate Software, please visit www.ultimatesoftware.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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Ultimate Software Extends Talent Management with Career Development and Succession Management in UltiPro Fall 2011 Release…from Ultimate Software

January 13, 2012

 

HRchitect includes Ultimate Software in our list of top HRIS vendors that organizations 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!

 

Ultimate Software (Nasdaq: ULTI), a leading provider of unified human capital management (HCM) SaaS solutions for global businesses, today announced that all of its SaaS customers are live on UltiPro’s Fall 2011 release, which introduced extended succession management and career development, in addition to enhancements to its HCM foundation and Web Services platform.

The UltiPro Fall 2011 release included:

  • New career development capabilities that empower employees and managers to collaborate on career growth and professional development
  • Succession management tools, including identification of high-performance employees, development planning, end-to-end succession planning, and broader talent pool planning
  • Further extension of UltiPro’s Web Services to enable additional connectivity to the business ecosystem

Career Development

With UltiPro Career Development, organizations can create continuous development and professional growth experiences for each individual by allowing them to foster the skills and competencies they need to move into new work opportunities. With the ability to take greater responsibility and accountability for their career development, employees can document and communicate job mobility preferences, accomplishments, experiences, competencies, development history, languages, and education. Employees and their managers can pinpoint growth opportunities that will add the most value based on individual career aspirations. Because information is presented in the UltiPro system of record, managers have direct access to their employees’ career development data and can more effectively align business requirements with their people’s career goals.

Employees can work with their managers to develop tailored development plans, including personal, team, and professional goals, that encompass continuing education, mentoring, and feedback — all seamlessly tied to UltiPro’s HR and talent management capabilities.

Succession Management

With quick, graphical views into high-potential and high-performing individuals, UltiPro makes succession planning a component of holistic talent management. UltiPro Succession Management:

  • Engages individuals in their own career development
  • Gives companies the flexibility to develop succession plans for positions, pools, or individuals
  • Manages succession as a part of unified talent management — leveraging relevant HR, payroll, salary, competency, and performance data already available in UltiPro — to identify potential candidates and analyze succession factors from multiple dimensions

As opposed to a top-down approach to leadership planning, UltiPro Succession Management involves company leadership, managers, and individuals in an ongoing, collaborative process. Employees can manage their own talent profile — updating factors that influence succession readiness, such as mobility preferences, languages, education, accomplishments, and competencies — to ensure that leadership has a deeper understanding of the talent landscape at their organization. Visible to employees and managers, UltiPro’s employee “talent card” provides a consolidated view of multiple succession-readiness factors, which then can be used in both decision-making and career development processes.

Additional Enhancements

In its Fall release, Ultimate Software delivered additional Web Services to include W-2 integration with Intuit’s TurboTax, enhanced mobile capabilities, Web Services to enable additional language support, as well as configurable data fields to enable further global operations. Ultimate’s Fall release for UltiPro also includes more than a dozen compliance updates and enhancements to the year-end process. These features make it easier for HR professionals to handle complex year-end processing through a convenient, one-stop “year-end gateway.”

“Employees don’t compartmentalize their career into areas like ‘payroll,’ ‘performance,’ ‘development,’ or ‘succession’ — it’s all part of one integrated work experience,” said Adam Rogers, chief technology officer and senior vice president at Ultimate Software. “The technology revolution in business right now is the merging of separate systems that traditionally served department or functional silos — such as recruitment, payroll, or performance management — into a person-centered solution driven not just by the bottom-line needs of the business, but by the realization that developing a more engaged workforce begins with treating employees as people, helping them get work done every day.”

For more information on Ultimate Software, please visit www.ultimatesoftware.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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NuView Systems Inc. names Ken Bero Chief Operating Officer…from NuView Systems

January 11, 2012

 

HRchitect includes NuView in our list of top HRIS vendors that organizations 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!

 

NuView Systems Inc., a global provider of enterprise-wide Human Capital Management solutions, announced recently that Ken Bero has joined the company as Chief Operating Officer. As COO, he will be responsible for the day to day operations at NuView. His market experience includes driving and managing rapid growth in both the software and computer hardware industries.

“The addition of Ken Bero is a significant move for the NuView team. His hiring is a reflection of the business’ accomplishments over the last two years and an indication of where our business is headed,” said Shafiq Lokhandwala, CEO of NuView Systems, Inc. “We have been expanding our market presence and capabilities, NuView grew over 20% in 2011 and our Human Capital Management solutions have been selected by a number of large global businesses. We expect this trend to continue and accelerate,” added Lokhandwala. “Ken’s experience in managing rapid growth and operating in global markets significantly enhances our management team and our ability to respond to requirements of our global customers.”

Bero brings a broad base of market experience and demonstrable success identifying core business competencies and opportunities, developing effective strategies and tactics, building strong capable teams and implementing business infrastructure, leading to profitable sale growth in both domestic and international markets. “I am very pleased to be joining the NuView management team,” said Bero. “The Human Capital Management market is growing rapidly and I believe that NuView is well positioned to be a significant player. I am excited and looking forward to making a significant contribution to our growth opportunities.”

Prior to NuView, Bero served as President/CEO of Datawatch Corporation, a publicly traded, international software development and services company. Under his leadership, the company was restructured, maintaining profitability and growing cash during the most recent recession. In previous roles as VP North American Channel Sales for SAP/Business Objects, he revitalized a declining channel business, growing sales from $30M to $75M in four years. As COO/Executive VP Sales and Marketing for Navidec, Inc. a NASDAQ listed software development and services company, Ken expanded and scaled operations from its local Denver market to national presence, opening six new offices and growing revenues from $8M to $32M over three years.

For more information on NuView, please visit www.nuviewinc.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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Ultimate Software Earns 13th Consecutive Certification from the Prestigious Service Capability & Performance Standards…from Ultimate Software

January 11, 2012

 

HRchitect includes Ultimate Software in our list of top HRIS vendors that organizations 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!

 

Ultimate Software (Nasdaq: ULTI), a leading provider of unified human capital management SaaS solutions for global businesses, announced today that the company’s customer service team has achieved its 13th consecutive certification from the Service Capability & Performance (SCP) Standards Certification program.

Ultimate Software achieved certification after an extensive audit of its customer service and support center. The SCP Standards quantify the effectiveness of an organization’s customer service and support based upon a stringent set of performance standards.

“We not only have achieved this most recent rigorous certification, but we have done so year after year since 1998 — the first year SCP Standards were introduced,” said Jon Harris, chief services officer for Ultimate Software. “This industry-leading measure for service excellence shows that our people, processes, and technology comply with proven best practices. Ultimate Software has always been committed to driving higher levels of service within the marketplace, and this certification reflects the exceptional quality and consistency of the services we deliver to our thousands of customers.”

The SCP (Support Standard, Field Service Standard, Professional Service Standard) is part of a suite of service capability and performance standards designed to improve the effectiveness of technology service operations. A consortium of leading technology companies and Service Strategies Corporation created the internationally recognized standards, which define best practices for delivering world-class technology service and support, quantify performance levels, and establish a foundation to build on existing quality processes. Certification requires comprehensive audits and annual recertification to confirm that companies continue to meet the requirements of the program.

Ultimate Software joins the ranks of other leading technology companies that have achieved the prestigious SCP Certification, including EMC Corporation, Lockheed Martin Incorporated, GE Healthcare, Rockwell Automation, Nokia, and NetApp. Currently, more than 200 technology support organizations around the world participate in the SCP program.

“The Service Capability & Performance Standards are the global benchmark for service excellence,” said Greg Coleman, vice president of strategic programs for Service Strategies, the organization that manages the SCP Certification program. “By passing the rigorous requirements necessary to achieve SCP Certification, Ultimate Software has made a clear commitment to delivering world-class support and service to its customers.”

For more information on Ultimate Software, please visit www.ultimatesoftware.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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Software Veteran Larry Dunivan Joins Ceridian…from Ceridian

December 6, 2011

 

Key strategic addition to Ceridian’s management team builds on company’s progress in delivering next generation human capital management (HCM) solutions

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 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!

 

Ceridian Corporation, a leading provider of human resources, payroll, tax filing, recruiting and workforce management software and solutions, announced today that Larry Dunivan has been appointed senior vice president, Product Management and Technology, for Ceridian U.S., effective immediately. Dunivan’s deep industry knowledge and operating expertise developed over a 25-year career of bringing software products to market will be used to help Ceridian deliver next-generation solutions for the human capital industry.

“Strategically, this is a critical step in transitioning Ceridian from a traditional technology-enabled service bureau business to a cloud-based software solution company,” commented Stuart C. Harvey, Jr., Ceridian’s chief executive officer and president. “Larry is a proven executive with a record of delivering robust new products to market that helped establish Lawson as a key player in the HCM space.”

Industry analysts have applauded the move. “Larry Dunivan is a terrific hire for Ceridian as it continues to evolve its software offerings,” said independent industry analyst and co-chair of the HR Technology Conference & Expo, Bill Kutik. “In the 15 years I’ve known him, Larry has distinguished himself as a functional expert and thought-leader in the HR software industry. His breadth of knowledge across the HCM domain and technical expertise make him one of the most prominent and capable executives in the industry.”

Dunivan will be responsible for Ceridian’s product management and technology organizations, overseeing Ceridian’s current suite of human capital solutions and services including human resources, payroll, tax filing, benefits and recruiting. Additionally, Dunivan will partner with leaders across the organization to drive the strategy and execution of preparing and transitioning Ceridian’s customers to its next-generation SaaS platform, InView.

“I am excited to join Ceridian as it continues to build on its leadership in human capital software and services,” Dunivan said. “The company’s people, clear vision for the market, and commitment to innovation make this an extraordinary opportunity to have a significant and long term impact.”

This strategic addition marks another significant step in Ceridian’s commitment to investing in innovation and the integration of its technology offerings. On October 3rd, Ceridian and Dayforce, Ceridian’s exclusive partner for SaaS workforce management solutions, announced a major expansion of the InView solution to bring payroll, human resources, employee self-service, benefits administration and workforce management onto a single platform, backed by Dayforce’s award-winning technology. Additionally, Ceridian InView Workforce Management was named the leading workforce management solution provider by Nucleus Research in November.

Dunivan joins the company from Lawson Software, where he served as senior vice president of Global Human Capital Management Products. He was responsible for sales, services, product strategy, and development for the company’s HR products. Prior to Lawson, Dunivan held executive roles at Best Buy and Personnel Decisions International. An M.B.A. graduate of Northwestern University, he is a frequent speaker and regular blogger on HCM technology.

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, please visit www.HRchitect.com

 
Matt Lafata, HRchitect

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SAP to Accelerate Cloud Strategy with Acquisition of SuccessFactors…from SuccessFactors

December 3, 2011

 

Creates Global Cloud Leader with World-Class Applications, Technology and Expertise; Gains Immediate Scale and Momentum in Fast-Growing Cloud-based Human Capital Management Segment

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 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!

 

SAP AG (NYSE: SAP) and SuccessFactors, Inc. (NYSE: SFSF) today announced that SAP’s subsidiary, SAP America., Inc., has entered into a definitive merger agreement with SuccessFactors, the market-leading provider of cloud-based human capital management (HCM) solutions, pursuant to which a subsidiary of SAP would offer to acquire all outstanding shares of common stock of SuccessFactors for $40.00/per share in cash, representing an enterprise value of approximately $3.4 billion. The acquisition will add SuccessFactors’ widely respected team and technology to SAP’s powerful cloud assets, significantly accelerating SAP’s momentum as a provider of cloud applications, platforms and infrastructure.  The combination of SAP and SuccessFactors will establish an advanced end-to-end offering of cloud and on-premise solutions for managing all relevant business processes.

The SuccessFactors board of directors has unanimously approved the transaction. The per share purchase price represents a 52% premium both over the December 2nd closing price and the one month volume weighted average price per share. The transaction will be funded from SAP’s cash on hand and a €1 billion term loan facility.  The closing of the tender offer is conditioned on SuccessFactors stockholders tendering at least a majority of the outstanding shares of SuccessFactors common stock (on a fully diluted basis) and clearances by relevant regulatory authorities. The transaction is expected to close in the first quarter of 2012 and be slightly dilutive to SAP’s Non-IFRS earnings per share in 2012 and accretive in subsequent years.

The acquisition marks another stride in SAP’s strategy of delivering solutions on premise, in the cloud and on mobile devices.  It builds on a series of strategic moves in SAP’s targeted growth areas to drive innovation in its core applications and analytics; introduce breakthrough in memory technology; establish leadership in enterprise mobility; and grow its cloud portfolio. SuccessFactors’ solutions are highly complementary to SAP’s core HCM offerings as well as SAP’s strong cloud assets: SAP Business ByDesign for the suite cloud market and SAP’s line of business cloud offerings for large enterprises such as SAP Sales on Demand.

“The cloud is a core of SAP’s future growth, and the combination of SuccessFactors’ leadership team and technology with SAP will create a cloud powerhouse. The acquisition will help us address the top priority for CEOs globally – managing people and talent,” said Bill McDermott, Co-CEO, SAP.  ”Together, SAP and SuccessFactors will create tremendous business value for customers, with potent synergies to accelerate our growth in the cloud.”

“The depth and experience that SAP brings to customers via our cloud and on-premise portfolio fit elegantly with SuccessFactors’ world-class expertise in providing high-performing, low-cost, native cloud applications that customers are passionate about,” said Jim Hagemann Snabe, Co-CEO, SAP.  “Together, we will lead the industry in providing end-to-end solutions consistently to meet any deployment preference, whether on premise, in the cloud or on device.”

“This is a revolutionary combination of proven capabilities that will allow SuccessFactors to accelerate our roadmap by 10 years, and bring the world’s leading application knowledge and intellectual property to our customers through the cloud, and the largest applications customer base instantly,” said Lars Dalgaard, Founder and CEO, SuccessFactors. “Expanding relationships with SAP’s 176,000 customers with our speed to value, friendly user interface, on mobile devices and the web, and seamlessly delivering more SAP solutions in the cloud will be legendary, as organizations adopt the cloud to improve their business. SuccessFactors has proven we have the technology and people to deliver the world’s biggest cloud deployments in terms of users and countries per customer, and also the most applications per customer from the same flexible scalable cloud platform. The business world is ready for enterprise-class cloud applications and together, we can deliver incredible new innovation for global businesses.”

SuccessFactors is believed to operate the largest scale of paying cloud users with 15 million subscription seats. With more than 3,500 customers in 168 countries, SuccessFactors is growing rapidly, recording 77 percent revenue growth year-over-year in the third quarter 2011 and 59 percent revenue growth year-over-year in the first nine months of 2011.   SuccessFactors’ scalable cloud application platform supports organizations of all sizes from dozens to millions of users.  With proven deployments in SAP environments at companies in diverse industries, the combination of SuccessFactors and SAP holds significant growth potential considering the more than 500 million employees of SAP customers and its 15,000 HCM deployments.

With headquarters in San Mateo, California, and more than 1,450 employees, the SuccessFactors team is widely regarded for creating innovative technology, generating more than 80 percent of new sales from applications that did not exist five years ago, and as one of the fastest growing leaders in cloud applications.  Upon completion of the transaction, the CEO of SuccessFactors, Lars Dalgaard, will lead the cloud business of SAP in addition to his responsibility as CEO of SuccessFactors. SuccessFactors will remain independent and be named “SuccessFactors, an SAP company”. The chairman of SAP’s supervisory board, Hasso Plattner, recommended that Lars Dalgaard be appointed to the executive board of SAP AG.

SAP and SuccessFactors Customers to Benefit from Combined Application and Technology Footprint

 

  • The combination of SuccessFactors and SAP will create a comprehensive HCM solution, marrying strength in enterprise applications with people-focused cloud applications.
  • SuccessFactors’ complementary solutions will be an attractive option for more than 500 million employees of SAP customers.
    • SuccessFactors’ applications are designed for businesses of all sizes, and offer easily adopted solutions for customers of SAP Business Suite, SAP Business ByDesign, SAP Business All-in-One, and SAP Business One.
    • SuccessFactors’ cloud expertise and know how, rapid cloud innovation and proven success running large scale cloud deployments will help SAP customers more rapidly adopt cloud applications.
    • SuccessFactors’ mobile applications combined with the mobile expertise of SAP and Sybase will offer customers a powerful business-to-employee mobility portfolio.
  • SuccessFactors’ focus on enabling business insight and execution fits well with SAP’s business analytics platform, promising new levels of real time decision making across the enterprise.

 

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

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Cornerstone OnDemand and Sage North America Sign Reseller Agreement to Offer Comprehensive HR Solution for Small and Midsized Businesses…from Cornerstone

December 3, 2011

 

Cornerstone’s talent management SaaS solution will be available in conjunction with Sage’s core HR and payment functionality to provide a complete set of HR tools for SMBs

HRchitect featured Cornerstone OnDemand 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. Charles Coy participated in the HRchitect WebMingle on January 16, 2009 and will appear again on December 8, 2011. Cornerstone OnDemand participated in the Talent Management Systems Beauty Pageant in December 2008, where they were crowned the winner.

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!

 

Learning and talent management software provider Cornerstone OnDemand (NASDAQ: CSOD) and Sage North America, a leading provider of business management software and services, recently announced that the companies have signed a reseller agreement. Sage North America, which supports 3.2 million small and midsized business customers in the U.S. and Canada, will resell Cornerstone’s comprehensive, SaaS-based solution in conjunction with its Sage Employer Solutions line of HR management tools.

“Not only are small and midsized businesses showing increased interest in taking an integrated approach to learning and talent management, they also are wanting to invest in cloud solutions to support their efforts,” said David Somers, vice president of alliances and strategy for Cornerstone OnDemand. “Our reseller relationship with Sage North America will help Cornerstone to further expand the availability of our comprehensive SaaS solution and meet this growing need among SMBs. Sage North America has strong brand recognition among small and midsized organizations and has been extremely successful selling HR products to this segment.”

Cornerstone’s award-winning integrated talent management suite includes functionality for learning management, performance management, enterprise social networking and extended enterprise engagement. Bringing together these offerings with Sage Employer Solutions’ core HR and payroll functionality will allow Sage to provide a complete set of HR management tools for small and midsized organizations to easily manage people throughout the typical employee lifecycle.

“If you invest in your employees to get them better engaged, it can have significant business benefits, such as boosted productivity, higher profitability or increased customer satisfaction,” said Johnny Laurent, vice president and general manager for Sage Employer Solutions. “Combining Cornerstone’s talent management software with our core HR and payroll functionality allows us to offer a total HR solution for the SMB market. Because Cornerstone’s SaaS solution is organically developed, our customers will be able to enjoy a truly integrated solution versus one that consists of different systems cobbled together.”

For more information on Cornerstone OnDemand, please visit www.cornerstoneondemand.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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Workday Introduces Latest Update: Workday 15…from Workday

October 31, 2011

Delivers Enhancements for Talent Management, Payroll, Financial Management, Solutions for Higher Education, and Integrations to Popular User Collaboration Tools

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!

Workday Inc., the leader in SaaS-based enterprise solutions for global human resources, payroll and financial management, recently introduced Workday 15. This update includes enhancements to Talent Management, Global Payroll Solutions, Financial Management, solutions for Higher Education, and new integrations with Microsoft Outlook® and Salesforce Chatter™.

Workday 15 also unveils Workday’s enhanced technology architecture for optimally handling the complex and intensive in memory transaction processing and reporting for very large enterprises.

What’s New

User Experience

  • With this update, Workday continues to bring its human capital management solution (HCM) into the natural environments in which workers work – no longer requiring users to login using a standard browser interface.
  • Workday for Outlook, accessible via the Xobni Gadget Store, allows workers to access their Workday inbox, search for colleagues, and view contact information directly in Microsoft Outlook.
  • Workday for Chatter enables workers to view their Workday inbox – including notifications, approval requests, and workforce data – directly from their Chatter stream.

Talent Management

  • Talent Reviews introduces a new business process and guided experience for workers and their manager to capture career and talent profile information used to inform talent review meetings among business leaders.
  • Career Interests provides a new way for employees to express their career goals and aspirations, explore jobs within their company, and compare their qualifications to those identified for a job.
  • Workday and Cornerstone OnDemand provide integration between Cornerstone Learning Cloud and Workday Human Capital Management.

Global Payroll Solutions

  • In Workday 15, Workday makes available an expanded set of payroll solutions for global enterprises.
  • Workday Payroll for Canada addresses the full spectrum of enterprise payroll needs while providing administrators with new levels of flexibility, control, and visibility.
  • Workday Bi-Directional Payroll Connector allows enterprises to import data from a third-party payroll provider back into an HCM solution.

Financial Management

  • Workday 15 extends its capabilities as a comprehensive financial management and accounting solution for global and complex organizations.
  • Financial transactions and reporting provides significant additions to the transactions, processes, and reporting capabilities including everything from accounting and assets to projects and expenses.
  • Enhanced financial analytics provides new levels of visibility into cash collection cycles and into the total cost of workers and the work they do.

Performance and Scalability

  • Workday also unveils its enhanced technology architecture. Workday’s Object Management Server (OMS) has been transformed into a set of distributed application services that deliver:
    • Grid processing for CPU-intensive process such as Payroll.
    • Elastic computing to execute customer developed integrations on demand.

Solutions for Higher Education

  • Workday continues to develop functionality that meets the unique needs of universities and their diverse, global workforces. With Update 15, Higher Education customers will have improved visibility into one of their most important resources – faculty – through new appointment and tenure tracking capabilities.

Comments on the News:
“Workday 15 is the culmination of many strategic initiatives that have been in development this year,” said Stan Swete, Workday chief technology officer. “Unlike with on premise software, the SaaS model uniquely enables customers to immediately benefit from enhanced functionality, performance and scalability without the requirement to invest in expensive servers, software upgrades, and performance benchmarking initiatives.”

All Workday customers will go live on Workday 15 this December.

For more information on Workday, please visit www.workday.com
Matt Lafata, HRchitect

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Cornerstone OnDemand and Workday Collaborate to Provide Seamless Integration of Learning and Human Capital Management Cloud Solutions…from Cornerstone OnDemand

October 31, 2011

 

Companies Create a Unified Experience for Organizations that Closely Align Learning and Development with Broader Human Capital Management Initiatives in the Cloud

HRchitect featured Cornerstone OnDemand 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. 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.

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!

 

Learning and talent management software provider Cornerstone OnDemand (NASDAQ: CSOD) announced recently that it has collaborated with Workday Inc., the leader in SaaS-based enterprise solutions for human resources, payroll and financial management, to enable integration between the Cornerstone Learning Cloud and Workday Human Capital Management (HCM).

Customers of Cornerstone OnDemand and Workday will be able to use this cloud-to-cloud integration at no added cost, and without the need for custom development or additional middleware or servers. The jointly designed and developed integration will bring worker, organizational and talent information to and from Workday Human Capital Management and the Cornerstone Learning Cloud. This will enable customers to leverage their investments in each solution and bring together the key information employees, managers and executives need to have in one place.

“The Cornerstone and Workday integration creates a truly unified experience for organizations that want to align learning with their broader human capital and talent management initiatives,” said David Somers, vice president of alliances and strategy for Cornerstone OnDemand. “The close collaboration among our product teams ensures that organizations are now able to seamlessly share relevant data among the systems, such as competencies, and transcripts and certifications, and, in turn, more effectively develop their workforces.”

“Companies want to integrate training and development with their core human capital management system of record without the inconvenience of disjointed systems,” said Leighanne Levensaler, vice president of HCM Strategy at Workday. “With this collaboration, customers that use Workday and Cornerstone can benefit from a seamless integration that unites their core system of record with learning management solutions.”

The Cornerstone Learning Cloud, with features for e-learning, instructor-led training administration, compliance management, enterprise social networking and more, has been recognized as a leading solution by industry analyst firms such as IDC and Forrester Research. Earlier this year, Cornerstone also was positioned by Gartner Inc. in the “Leaders Quadrant” of the 2011 Gartner Magic Quadrant for Corporate Learning Systems report.

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

 
Matt Lafata, HRchitect

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SaaShr.com Expands Marketplace with Recruitment Module for HR Application…from SaaShr.com

October 29, 2011

 

Recruitment module can help small to mid-sized businesses establish a more uniform recruiting process by improving problems associated with hiring efforts.

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!

 

SaaShr.com (http://www.SaaShr.com), a leading provider of Software as a Service (SaaS) based Workforce Management Solutions with a major focus in Human Resources (HR), Payroll, and Time and Labor Management (TLM), announced today the release of its recruitment module as part of its Ancillary Product and Service Marketplace for licensees and users of the company’s HR application. Complementary to the applicant tracking component in the HR application, the recruitment module offers a powerful solution to help address recruiting challenges faced by small to mid-sized businesses.

“Many companies in the small to mid-sized business space are struggling to hire qualified job candidates in a simple, efficient, and consistent manner due to a shortage of recruiting or HR-related resources,” stated Chad Brenneman, President of the HR and Payroll Division at SaaShr.com. A 2010 survey conducted by Manpower Group, an employment services company, concluded that the percentage of employers who have had difficulties finding qualified candidates had increased by almost half since 2006. Brenneman continued, “As the economy begins to rebound, the number of companies in this segment are expected to increase hiring efforts, thus the demand for solutions to resolve recruitment issues is expected to rise as well.”

According to the U.S Bureau of Labor Statistics, there are 3.2 million unfilled job positions in the United States, however 9.1 percent of the population is currently unemployed. “The recruitment module can help bridge the gap between the unemployment numbers and the number of available positions by streamlining hiring processes for those companies that are currently hiring and in need of a solution,” Brenneman added.

With the SaaShr.com recruitment module, applicants can upload a resume or include previous work experience, quantify their level of proficiency with a multitude of skills, list references, and include compensation requirements. Administrators, recruiters, and hiring managers can easily view that applicant’s information through a summarized view. This information is then compared with the criteria required for the position in order to zero-in on the best job applicants.

“The recruitment module provides companies with the means for making better hiring decisions faster and easier than in the past. Essentially, it can help to create a more uniform recruiting process for the businesses that lack the tools and resources necessary to effectively manage recruitment initiatives,” Brenneman concluded.

For more information on SaaShr.com, please visit www.saashr.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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