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WorkForce Software Announces 4th Straight Year of 100% Revenue and Customer Growth

Livonia, MI, January 3, 2005 - WorkForce Software, Inc., an industry leader in enterprise time and attendance solutions, today announced yet another consecutive year of record sales and profitability. The 2004 results mark the 4th consecutive year of 100% revenue growth and 4th consecutive year of profitable operations. The significant increase in revenues and profitability were due to new partnerships with industry leaders and a substantial number of customer wins throughout the year.

“WorkForce Software forged numerous business relationships in prior years and in 2004. For example, a major new initiative with one of the leading HR BPO firms built further momentum behind our solution. Customer wins in many sectors, especially the energy sector, are proof that we are doing the right things for our company and our customers,” said Kevin Choksi, president and CEO of WorkForce Software.

“We are poised to continue growing into 2005 and beyond. Our implementation and sales teams has doubled in size. We continue to invest even more R&D to keep up the lead we have built in a best of breed time and attendance solution. Our agreement with Rafael brings our solution outside of North America for the first time and plants the seeds for growing into a largely untapped international market”, Kevin Choksi further explained.

WorkForce Software Milestones
In addition to the successful financial results, WorkForce Software summarized several other milestones accomplished in 2004, including doubling the number of enterprise customers and a major new initiative with a leading HR BPO firm. This firm will be utilizing the WorkForce time and attendance system as its enterprise platform in conjunction with its HR, payroll, and benefits solutions. WorkForce Software also completed numerous benchmarks of its solution that ensure it can support the very largest organizations. Details on these benchmarks will be made available shortly.

Numerous Customer Wins and Overseas Initiatives
WorkForce Software expended its customer base in a number of vertical industries in 2004, especially in the energy area. Major new customers in energy include the El Paso Corporation (NYSE: EP), Southern Union Company (NYSE: SUG), and DTE Energy (NYSE: DTE). Other organizations include Morrison and Foerster and Rafael Armament in Israel. The agreement with Rafael brings the WorkForce Software solution outside of North America for the first time. Concurrent with the win at Rafael, WorkForce Software entered into a partnership with Coral Computer Systems to bring the WorkForce Software solution to other firms in the Middle East.

About WorkForce Software

WorkForce Software delivers web-based employee time and attendance systems to large organizations with complex HR and payroll requirements. The WorkForce Software suite comprises badge reader and biometric data collection, employee self service, labor tracking, accruals/leave management, and data exchange with leading payroll, human resources, and ERP systems. The software handles labor law compliance for the Fair Labor Standards Act (FLSA) overtime regulations, the Family Medical Leave Act (FMLA) and state regulations.

WorkForce Software’s solutions are built on Java J2EE and XML technology to deliver a scalable solution. Industry specific versions are available for educational institutions, the public sector, and health care accounts. WorkForce Software customers span multiple industries including banking, manufacturing, school districts, universities, state/local governments, utilities, health care, construction, and hi-tech firms.

For more information about WorkForce Software, visit www.workforcesoftware.com or call 877-4WFORCE.

 

 

 

 

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