News & Events
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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