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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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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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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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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Ultimate Delivers Global Workforce Insight, Enhances Talent Management, and Extends Web Services…from Ultimate Software

June 8, 2011

 

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 (HCM) SaaS solutions for global businesses, today announced the Spring 2011 release of UltiPro HCM.

The latest edition of UltiPro provides enhanced functionality for visibility into a global workforce, adds new talent management capabilities, and extends Ultimate’s portfolio of Web Services-based application protocol interfaces (APIs) for connectivity to the enterprise ecosystem. Additionally, just as consumer Web applications use search as a primary mechanism to navigate rapidly and effectively, UltiPro now allows users to navigate through the application via search.

Global Workforce Insight

In response to growing demand for visibility into the entire multinational organization, UltiPro Spring 2011 delivers new capabilities for real-time insight across a global workforce as well as global compensation management and reporting, including: 

  • Budgeting and forecasting for global workforce compensation
  • Enhanced currency conversion for country-specific reporting and global compensation analysis
  • Additional standard reports on global employee demographics and compensation

Enhanced Talent Management

UltiPro Spring 2011 offers more versatile performance management features that enable customers to configure the solution to best fit their unique organizational requirements, including: 

  • More flexible 360-degree reviews with adjustable rating scales and the ability to allow for a variety of contributors outside of the default review path
  • Capability for feedback on employee goals and competencies in addition to performance, with feedback weighting based on role
  • Configurable employee competency assignment by both HR administrators and managers

Extended Web Services APIs

Ultimate has been providing a SaaS-based system of record for HR since 2002, and UltiPro Spring 2011 builds on Ultimate’s track record of integrating data across the enterprise by connecting to hundreds of third-party systems and service providers. To address customers’ progressively more complex business ecosystem, the latest edition of UltiPro extends Ultimate’s open approach with a broadened portfolio of Web Service APIs to enable standards-based connectivity to other cloud and on-premise solutions—whether for a manager pulling real-time data into Microsoft® Excel® or for more complex connections to other back-office enterprise systems.

Customer Value

With 1,200 employees worldwide, Franchise World Headquarters, LLC, the service organization for the SUBWAY® restaurant franchise system, is excited about UltiPro’s expanded Spring 2011 features for global HR and talent management so it can deliver better decision support to business leaders as well as directly impact employee performance.

“With UltiPro as our single solution of record for HCM, we are consolidating workforce metrics, such as compensation and performance history, and accelerating the delivery of workforce information across our business. With so much of our workforce deployed around the world, we are especially pleased that UltiPro continues to deliver additional global employee management capabilities with each release,” said Lisa Shea, assistant director of human resources for Franchise World Headquarters, LLC, the service organization for the SUBWAY® restaurant franchise system.

“We’re also excited that, with UltiPro, we now can include people outside of the employee/manager path in 360-degree reviews for more collaborative talent development, which we are looking into for the future.”

All UltiPro SaaS customers will be live on UltiPro’s Spring 2011 update this month. Ultimate plans three major updates to its HCM suite this year, with additional releases to support compliance requirements as necessary—all handled for customers without the burden on internal IT resources typically required with software updates. An inherent benefit of cloud services, customers can focus on their business rather than IT administration.

“Business agility demands HCM tools that can help organizations understand the landscape of their current workforce, cultivate talent, and adapt business processes to optimize the organization fast,” said Adam Rogers, chief technology officer and senior vice president of product development at Ultimate Software. “This agility requires that enhancements to HCM technology be delivered rapidly in order to be relevant and responsive to market needs—and that’s where the strength of the SaaS model shines. Businesses can no longer afford to wait for the typical on-premise software upgrade. With UltiPro in the cloud, we are delivering seasonal releases that provide the enhancements our customers need to execute effectively today.”

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

 
Matt Lafata, HRchitect

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

October 4, 2010

 

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

Howard Tarnoff, Senior Vice President, and Marc Moschetto, Vice President of Marketing, from WorkForce Software appeared on the HRchitect WebMingle on August 12, 2010.  If you are looking for a new Talent Management System, Workforce Management, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Ultimate Software Reports Q4 and Year-End 2009 Financial Results…from Ultimate Software

February 10, 2010

 

Record Total Revenue and Recurring Revenue Results for Quarter and Year

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, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.

Ultimate Software, a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, announced today its financial results for the fourth quarter and year ended December 31, 2009. For the fourth quarter of 2009, Ultimate reported recurring revenues of $35.7 million, a 24% increase, and total revenues of $52.3 million, an increase of 5%, both compared with 2008′s fourth quarter. GAAP net income for the fourth quarter of 2009 was $0.1 million, or $0.00 per diluted share, versus $0.6 million, or $0.02 per diluted share, for the fourth quarter of 2008.

Non-GAAP net income (which excludes stock-based compensation and amortization of acquired intangibles) for the fourth quarter of 2009 was $2.6 million, or $0.10 per diluted share, compared with non-GAAP net income of $2.7 million, or $0.11 per diluted share, for the fourth quarter of 2008. See “Use of Non-GAAP Financial Information” below.

For 2009, recurring revenues increased 25% to $133.4 million, and total revenues increased 10% to $196.6 million, both as compared with the prior year. For 2009, the GAAP net loss was $1.1 million, or $0.05 per diluted share, as compared with a GAAP net loss of $2.9 million, or $0.12 per diluted share, for 2008.

“2009 was a successful year for Ultimate. Our recurring revenue grew by more than 25% and our client retention rate remained strong at 97%,” said Scott Scherr, CEO, president, and founder of Ultimate.

“We also attained our 2009 operating income plan and have a solid foundation in place for 2010.”

Financial Highlights

– Ultimate’s total revenues for 2009 increased by 16% compared with that of 2008, excluding license revenues from 2009 and 2008 and the 2008 recurring revenues associated with a former business service provider. Excluding these same items, the incremental non-GAAP operating margin was 39% for 2009.

– Ultimate’s recurring revenue gross margin covered all operating expenses in 2009′s fourth quarter on a non-GAAP basis.

– Recurring revenues — primarily consisting of Intersourcing revenues from our Software-as-a-Service offering of UltiPro and maintenance revenues — grew by 24% for the fourth quarter of 2009 and by 25% for the 2009 year, both versus comparable 2008 periods. Intersourcing revenues and, to a lesser extent, maintenance revenues, were the principal factors in the growth of recurring revenues.

– Non-GAAP operating income for the fourth quarter of 2009 was $4.4 million and $12.9 million for the 2009 year. (For more detail, see “Unaudited Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures.”)

– Ultimate’s annualized retention rate was 97% for its existing recurring revenue customer base as of December 31, 2009.

– The combination of cash, cash equivalents, and marketable securities was $33.2 million as of December 31, 2009 compared with $23.0 million as of December 31, 2008. For the quarter ended December 31, 2009, the Company generated $7.3 million in cash from operations and repurchased 188,600 shares of the Company’s issued and outstanding $0.01 par value common stock (“Common Stock”) for $5.0 million, under its previously announced stock repurchase plan (“Stock Repurchase Plan”). For the twelve months ended December 31, 2009, the Company generated $23.5 million in cash from operations and repurchased 451,850 shares of the Company’s Common Stock for $12.2 million under its Stock Repurchase Plan. As of December 31, 2009, we had 1,014,575 shares available for repurchase in the future under our Stock Repurchase Plan.

– Days sales outstanding were 68 days at December 31, 2009, representing a reduction of 3 days compared with days sales outstanding at December 31, 2008.

Business Highlights for 2009 Year

– Ultimate was honored for the second consecutive time to be named the #1 best medium-sized company to work for in America by the Great Place to Work(R) Institute, Inc., the same research and management consultancy that produces FORTUNE(R)’s “100 Best Companies to Work For” list for large companies. Ultimate is the only organization to receive the number one position twice in this category.

– Ultimate’s UltiPro won first place in the People’s Choice Stevie competition for Favorite New SaaS Product sponsored by the American Business Awards. Other products competing in this category were Salesforce.com, Cisco WebEx, Citrix Online, NetSuite, and Peopleclick. The nationwide online vote was open to the public.

– Ultimate was named a winner of THINKstrategies’ Best of SaaS Showplace (BoSS) Awards. The BoSS Awards are presented by THINKstrategies to bring greater attention to Software-as-a-Service and cloud-computing companies that produce tangible business benefits.

– Ultimate’s customer support center was awarded Service Capability & Performance (SCP) certification for best practices for the 11th consecutive year. The SCP Standards represent the global benchmark for service excellence and are recognized by leading technology companies around the world.

– Connections 2009, Ultimate’s second annual global user conference, was held September 15-18. Co-sponsored by Dell and IBM, Connections 2009 brought together more than 600 UltiPro users from companies across North America, such as Callaway Golf, First Horizon, Fujitsu America, Sony Music Entertainment, Texas Roadhouse, and Yamaha Corporation of America.

Financial Outlook

2010 Financial Guidance:

Ultimate provides the following financial guidance for 2010 (which differs from the guidance provided on October 27, 2009):

For the first quarter of 2010:

– Recurring revenues of approximately $39 million;

– Total revenues of approximately $55 million; and

– Operating margins, on a non-GAAP basis (discussed below), of approximately 6%.

For the year 2010:

– Recurring revenues to increase by approximately 27% in 2010 over those in 2009;

– Operating margins, on a non-GAAP basis (discussed below), of approximately 10%; and

– Total revenues to increase by approximately 18% over those in 2009.

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 equity-based compensation expense for 2010 is expected to be between $13.5 million and $14.0 million.

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

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Ultimate Software Delivers UltiPro through Software-as-a-Service for Adobe…from Ultimate Software

August 4, 2009

 

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, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.

Ultimate Software (Nasdaq: ULTI), a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, announced today that Adobe Systems Incorporated, one of the world’s largest and most diversified software companies, has deployed Ultimate Software’s UltiPro delivered through Software-as-a-Service (SaaS). Adobe selected UltiPro for its functionality and convenient SaaS delivery model.

Known for providing award-winning software and technologies that have redefined business, entertainment, and personal communications, Adobe went live on UltiPro in April 2009.

“UltiPro improves the accuracy of our data, expedites the payroll process, and integrates well with our other systems,” said Lurbia Quinonez, senior payroll manager for Adobe. “We can access information and develop reports easily and efficiently.”

According to Quinonez, Adobe chose Ultimate Software not only for UltiPro’s functional capabilities, but also for the company’s culture and customer relationships.

“Our strong partnership with our customers is one of the most significant parts of who we are,” said Greg Swick, chief sales officer for Ultimate Software. “We are pleased to be building a long-term relationship with Adobe and providing the flexible solution and the level of customer satisfaction the company was seeking.”

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

 
Matt Lafata, HRchitect

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Ultimate Software Ranked #1 Best Medium Company to Work For in America…from Ultimate Software

July 2, 2009

 

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, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.

Ultimate Software (Nasdaq: ULTI), a leading provider of strategic end-to-end human resources, payroll, and talent management solutions, announced today that it has been named the #1 medium company to work for in America for the second consecutive year by the Great Place to Work Institute (GPTW), the same research and management consultancy that produces FORTUNE’s “100 Best Companies to Work for” list for large companies, and the Society for Human Resource Management (SHRM). A family-like culture, unique benefits, and a down-to-earth management style contribute to the cohesive, productive business environment at Ultimate.

No other company has ever been recognized as the #1 place to work twice in the medium company rankings. This is the fifth consecutive year that Ultimate has been ranked in the top eight. The “Top 50 Best Small & Medium Companies to Work for in America” for 2009 were announced today in New Orleans at SHRM’s 61st Annual Conference & Exposition.

“We are honored to be ranked the number one medium company to work for again. Taking care of our people is the cornerstone of all that we do at Ultimate, and our people have rewarded us by creating a first-rate suite of software-as-a-service (SaaS) solutions for human capital management and by providing our customers with world-class service,” said Scott Scherr, Ultimate’s founder, president, and CEO. “We are grateful to have a business culture driven by a passion for excellence, respect, and honor, and that combination has given us a significant competitive edge in our industry.”

Hundreds of companies across the United States submitted entries in the very detailed and competitive analysis conducted by GPTW. The rankings are primarily determined from employee opinion surveys that analyze an organization’s workplace culture. Employee-survey responses count for two-thirds of an organization’s score. The evaluation process also includes the assessment of organization practices and perspectives from the leadership team, which accounted for one-third of the group’s score.

Full coverage of the award ceremony and other details are available at www.shrm.org. Organizations on the “Top 50 Best” list will also be listed at www.greatplacetoworkinstitute.com and www.cnnmoney.com.

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

 
Matt Lafata, HRchitect

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Leading Software Developer Transforms Human Capital Management with UltiPro Workplace…from Ultimate Software

June 17, 2009

 

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, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.

Ultimate Software (Nasdaq: ULTI), a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, today announced that Minitab Inc., one of the world’s leading developers of statistical analysis and process improvement software for academic and commercial users, is taking advantage of UltiPro Workplace to streamline human capital management (HCM) processes, improve information delivery and availability, and enhance internal services across the organization.

Before Minitab deployed UltiPro Workplace in July 2008, the company was using a payroll service bureau and a separate HR solution that it had outgrown. To manage expansion while controlling costs, the company sought a unified HR, payroll, and benefits solution with robust reporting tools and Web access for its workforce. The technology company selected UltiPro Workplace.

“UltiPro is adding tremendous value to our business,” said Jill Skipper, HRIS manager for Minitab. “We now need one less person to handle the same responsibilities we had before UltiPro, because we have automated so many employee management processes that previously required manual intervention.”

For Skipper, who handles much of the business intelligence for Minitab, responding to requests for reports used to require compiling information from a dozen different solutions and databases. Today, with UltiPro, the information is not only in one central location, but the reports are also highly configurable in order to address unique reporting needs.

“I use UltiPro’s reporting on a daily basis to address everything from HR compliance requirements to company asset tracking, benefits deduction analysis, and employee tenure reports,” said Skipper. “Leaders in business today need access to meaningful real-time HR metrics in order to manage employees effectively. All of our HCM reporting is so much easier with UltiPro.”

Another benefit for Minitab is UltiPro’s Web access for the entire workforce. With UltiPro, approximately 300 Minitab employees can view their individual HR/payroll details as well as direct deposit selections, the schedule of upcoming pay dates, and instructions for adjusting tax withholdings because of the federal stimulus package.

“Employees can get information quickly without disrupting their daily workload whenever they need something. We believe this kind of benefit to our workforce is important to employee satisfaction, productivity, and efficiency,” said Skipper. “Because UltiPro is accessible to everyone in our organization, the benefits of the solution have extended beyond HR and are positively affecting the entire company.”

Minitab has also discontinued printing direct deposit advices because employees can see their fully secured paycheck details from their homes or offices. Building on its success with UltiPro, the software developer has just started using UltiPro for recruitment to automate its talent acquisition and applicant management processes.

“With its comprehensive HCM functionality, analytical tools, and Web portal, UltiPro Workplace is an end-to-end solution that midsized organizations can leverage to manage their people like a FORTUNE 500 company,” said Chris Phenicie, vice president of UltiPro Workplace. “We are pleased that a leader in the technology industry like Minitab selected UltiPro and is experiencing significant improvements as a result.”

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

 
Matt Lafata, HRchitect

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Ultimate Software Wins People’s Choice Award for Favorite New SaaS Product…from Ultimate Software

June 10, 2009

 

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, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.

Ultimate Software (Nasdaq: ULTI), a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, announced today that Ultimate’s UltiPro delivered through Software-as-a-Service (SaaS) has won first place in the People’s Choice Stevie® competition for Favorite New SaaS Product, sponsored by the American Business AwardsSM.

More than 100,000 votes were cast in 12 People’s Choice categories including Favorite New SaaS Product, Favorite Entertainment/Media Product or Service, Favorite Gadget, Favorite Telecom Product or Service, and Favorite Smartphone/PDA. In addition to Ultimate, some of the other People’s Choice winners were Apple, Hulu.com, Mozilla, Symantec, and Quicken. Other companies competing in the best new SaaS solution category were Salesforce.com, Cisco WebEx, Citrix Online, NetSuite, and Peopleclick. The nationwide online vote was open to the public.

For businesses of nearly all sizes, Ultimate provides payroll, human resources, benefits management, business intelligence, and a portal for conducting business functions conveniently – and provides strategic talent management solutions like recruitment, onboarding, performance management, salary planning and compensation, and career planning – all through SaaS. Ultimate’s newest HCM solution, UltiPro. NET, delivered as SaaS, reinvents the customer experience with a redesigned enterprise-wide portal that allows businesses to streamline management of a global workforce while putting individual users in control, based on their personal preferences. In addition to social networking integration with sites such as Facebook to promote team collaboration, the new SaaS solution also includes multiple languages, many convenience shortcuts, and dashboards. More than 1 million employees across North America are being supported in Ultimate’s SaaS environment.

Winners of the People’s Choice Stevie Awards will be presented their awards at the 7th annual American Business Awards banquet in New York on Monday, June 22.

“Businesses need every dollar spent to count in order to be successful in a highly competitive market,” said Scott Scherr, president, CEO, and founder of Ultimate Software. “Without requiring organizations to invest in hardware or dedicate internal IT staff to manage systems, Ultimate’s SaaS solution helps businesses achieve their goals to align performance, compensation, and human capital management to ensure that they acquire and retain the best talent to drive business success.”

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

 
Matt Lafata, HRchitect

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Ultimate Software Honored with 2009 IHRIM Partners Award…from Ultimate Software

April 15, 2009

 

Ultimate Software Honored with 2009 IHRIM Partners Award for Contributions to the Practice of Human Capital Management

 

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

 

Ultimate Software (Nasdaq:ULTI), a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, today announced it has received the 2009 Partners Award from the International Association for Human Resource Information Management (IHRIM). IHRIM’s Partners Award is presented to organizations that have significantly contributed to the practice of human resources information management and/or to supporting the mission and goals of the association.

 

Ultimate’s CIO, Bill Hicks, will accept the award on April 20 at IHRIM’s 2009 HRMStrategies Conference & Technology Exposition in San Diego, Calif.

 

“Ultimate Software continues to be a leader and visionary in the HCM marketplace. It is our pleasure to recognize the entire Ultimate team as a 2009 Partner Award recipient,” said Lynne Mealy, IHRIM president and CEO.

 

Since 1980, the International Association for Human Resource Information Management (IHRIM), the world’s leading HRIM clearinghouse, has been uniting a dynamic group of practitioners, vendors, consultants, students, and faculty to share best practices and the latest technological trends. Through membership, educational programming, listservs, networking forums, and IHRIM’s annual conference, HRIM professionals can receive valuable knowledge that will enhance both their own careers and their companies’ success.

 

“We are honored to accept the 2009 Partners Award from IHRIM,” said Hicks. “As a company, Ultimate is committed to delivering quality HCM solutions that support strategic HR objectives. Being recognized by a national association of IHRIM’s caliber underscores our commitment to providing organizations with HR solutions that meet the demands of today’s businesses.”

 

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

 

Matt Lafata, HRchitect

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7,700-Employee Company Chooses UltiPro for Human Capital Management Delivered through Software-as-a-Service…from Ultimate Software

March 27, 2009

 

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

 

Ultimate Software (Nasdaq:ULTI), a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, today announced that Safelite AutoGlass, the nation’s leading provider of vehicle glass repair and replacement services, has chosen UltiPro for its human resources, recruitment, and performance management solution.

 

Since it started using a payroll service bureau’s solution several years ago to manage human resources information, Safelite expanded and grew its workforce dramatically. Now, with close to 8,000 employees to manage, the HR team needed a more sophisticated HR solution with strategic talent management tools and real-time reporting and analytics. The company selected UltiPro in January 2009 for its comprehensive HR feature-set, reporting capabilities, and software-as-a-service (SaaS) delivery model.

 

“We have been using a solution that required a great deal of customization, but still required us to compile reports manually and use paper for many employee transactions,” said Donna Gibson, senior manager of compensation and benefits at Belron US, the parent company of Safelite AutoGlass. “When we selected UltiPro, we were looking for more functionality, better performance, and more automation than our current solution. With its software-as-a-service model and its broad range of strategic human resource tools, Ultimate was a very good fit for us.”

 

Because Safelite had been using an in-house solution for HR, the company’s IT team needed to devote resources to support it. Now Ultimate Software will manage the hardware and software so Safelite’s IT team will be able to focus on other projects, while HR will have the tools it needs to build efficiencies, operate more strategically, and deliver information to employees over the Internet. Considering Ultimate’s numerous awards for SaaS and customer service, Gibson and the decision-making team were confident that Ultimate’s service model was the right choice for Safelite.

 

“One decision driver for us was based on our personal experiences with Ultimate’s associates and its reputation for quality customer service,” said Gibson. “We look forward to working with a vendor who has both superior solutions and service.”

 

“Ultimate offers cost-effective, scalable solutions for large businesses that want powerful HR business functionality, but do not want to tap their own internal resources to maintain it,” said Greg Swick, chief sales officer for Ultimate Software. “Our complete HCM solution can handle HR throughout the employee life cycle, and we look forward to helping Safelite enhance its employee management to stay competitive.”

 

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

Matt Lafata, HRchitect

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2,000-Employee Caterpillar Dealer Achieves Savings and Efficiencies with UltiPro Delivered through SaaS…from Ultimate Software

March 6, 2009

 

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

 

Ultimate Software (Nasdaq: ULTI), a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, recently announced that its customer HOLT CAT has improved reporting, reduced expenses, and improved numerous business processes since going live on UltiPro delivered through Ultimate’s software-as-a-service (SaaS).

HOLT CAT, a 2,000-employee Caterpillar dealership with 27 locations, chose UltiPro to reduce expenses and streamline its human capital management processes. With multiple offices to manage, Texas-based HOLT CAT needed a unified HCM that would allow it to easily generate HR/payroll-related reports on individual dealerships, specific regions, or on the company as a whole. HOLT CAT had been using an HR/payroll application provided by a payroll service bureau, and after 18 months of using the system, the heavy equipment dealership found the solution and its reporting tools inadequate. HOLT CAT selected UltiPro in 2003 and deployed the solution rapidly.

“The system we had before didn’t perform as we’d hoped, and it was causing us to spend too much time manually compiling information for reports, such as those needed for the Occupational Safety and Health Administration. With UltiPro, we were able to roll out the solution fast and gain control over our information. Now we can pull reports we need in seconds,” said Beth Heffeman, HRIS business manager for HOLT CAT. “UltiPro is also less expensive than our previous solution. Our initial analysis predicted a $100,000 annual savings. I think we are achieving or exceeding that figure.”

By using UltiPro to automate human resource and payroll business processes, organizations like HOLT CAT can minimize the cost and effort required to print, handle, mail, and store paper forms and paychecks while alleviating duplicate data entry. Because HOLT CAT’s employees and managers have access to their information via the Web portal, the company has moved to a paperless payroll and improved paper-intensive processes such as talent acquisition.

“With UltiPro Recruitment, we can get applicant details to hiring managers in the field quickly, and when a candidate is selected, the new hire’s HR/payroll information automatically moves into UltiPro without data entry,” said Bonnie Downey, payroll manager for HOLT CAT. “Before UltiPro, we had forms moving between dozens of different locations, bogging everyone down with paper and slowing our time-to-hire.”

HOLT CAT selected Ultimate’s SaaS delivery model, relieving the dealership of system maintenance responsibilities because Ultimate supports the servers, performs backups, and manages upgrades.

“Our IT staff has found UltiPro’s security to be excellent, and they are not only comfortable with Ultimate maintaining the hardware and software, they are happy about it,” said Downey. “With our previous provider, we didn’t need IT resources to support my team, and we didn’t want to go backwards. With UltiPro delivered through SaaS, every move we are making is a step forward.”

“Ultimate’s SaaS model gives businesses the best of both worlds—a sophisticated, end-to-end HCM solution that includes strategic reporting and analysis tools, without the IT burden of managing on-premise software or investing in infrastructure,” said Greg Swick, chief sales officer for Ultimate Software. “We are pleased that HOLT CAT has been able to improve its bottom line, cut costs, and reduce the amount of time staff spends on non-value added activities like data entry and handling paper forms.”

 

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

Matt Lafata, HRchitect

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