HR Self-Service Innovator Reviews Outcome of Fall Research Efforts; Renews Commitment to Helping Organizations Achieve Superior HR Service Delivery
FRAMINGHAM, Mass. (February 12, 2003) - Following an extensive market research program executed in the Fall of 2002, Workscape, Inc., a proven provider of benefits and workforce management solutions, has unveiled an updated corporate brand and product strategy. At the company's recent bi-annual sales meeting, President and CEO Tim Clifford and Vice President of Worldwide Marketing Betsy Zikakis shared the results of the research and discussed how these results will directly impact the company's go-forward brand and product strategy being launched this month.
Specifically, the results of Workscape's research program, which included a series of focus groups with senior HR and finance executives at large corporations across the U.S., pointed to a growing market demand for applications that are designed expressly for use by the workforce, and that can support the unique ways HR and corporate management have designed their existing business processes. Expanding on its pioneering history of self-service excellence and deep HR functionality, Workscape is well positioned to meet this need. The Company's award-winning solutions, including online benefits administration, employee self-service, manager self-service, and compensation planning, are currently serving millions of employees worldwide for 180 major corporations.
"Given today's economy, retaining and driving increased productivity from existing employees is paramount. As a result, building a higher performing workforce is a key objective for today's HR professionals," said Clifford. "It's clear from our research that HR leaders see the need to transform not only their own departments, but also the way their company's workforce is managed on a broader scale. They also believe that technology can enable this transformation, allowing employees and managers alike to work smarter and more cost-effectively."
"At Workscape, our continued focus is to develop and distribute applications to HR professionals which they can, in turn, deliver to their employees and managers," continued Clifford. "These applications and services will allow them to transform the way HR services are delivered and adopted across the enterprise, to create dynamic communication and feedback channels with their employees, and over time, to drive their workforce to higher levels of performance."
"After months of research, as well as key lessons learned from our own client experience, we've been able to validate what Workscape believes to be the core strengths of its solutions: our applications are designed and delivered for widespread adoption by employees and managers, and include deep HR functionality that is easily adapted to match our client's specific business rules," said Zikakis. "Over time, these underlying architecture and design principles will be applied to an extended set of core applications, delivered through HR to employees and managers across the organization. And, of course, we will continue to build products that can be easily integrated into a client's existing multi-vendor environment, and will maintain multiple deployment options to ensure rapid implementation and ROI."
"Without question, 2003 will be a pivotal year for Workscape," affirmed Clifford. "Beginning this month we will launch these refinements to our brand and product strategy in the form of several new marketing programs, a new corporate identity to debut later this year, and, ultimately, a series of new product releases that will deliver on this vision to meet our client's key requirements."
New Programs to Launch from Strong Foundation of Revenue, Customer Growth
Workscape closed the 2002 calendar year having achieved a number of important financial and operational milestones. Most significantly, Workscape's revenue jumped thirty percent year-over-year, and the company reached cash-flow profitability in the fourth quarter as a result of careful cost management and improved process efficiencies across all departments. Workscape also continued to serve its broad customer base while adding numerous new clients to its roster.
"We are thriving despite a cautious economic climate by offering what is essentially the most broad-based solution set for HR self-service," added Clifford. "In a time of significant budget restraint, our clients continue to respond positively to our value proposition, our distinguished track record and industry expertise, and our commitment to meeting and exceeding their demands by continually evolving our technology."
New customers contracting with Workscape in 2002 included Ahold USA, PepsiAmericas, Union Bank of California, and Square D/Schneider Electric, among others. In addition to these new client relationships, Workscape also completed more than 100 new projects for existing clients such as FedEx Ground.
As Workscape sought to increase its distribution and channel opportunities in 2002, it also formed new partnerships. For example, the company recently signed an alliance agreement with Deloitte & Touche LLP to leverage the two firms' respective technology and consulting resources.
Workscape's industry leadership was recognized in 2002 by Forbes magazine, which named the company to its 'Best of the Web' directory in the competitive human resources category, based on criteria that included company strategy, execution, and financial viability. Workscape also won the coveted HR Top Products Award from Human Resource Executive magazine for its employee portal solution, Employee.comTM.
"We've spent the past year listening and learning from our customers and incorporating their needs into our plans for future application and service enhancements," commented Clifford. "But what we've also learned is that, despite current cost concerns, competitive business advantage in the years ahead will continue to accrue to companies that increase their emphasis on people. To this end, we have reaffirmed our mission to help businesses close the relationship gap between themselves and their employees, and create higher performing organizations in the process."
About Workscape
Workscape builds Internet solutions for Human Capital Management (HCM) and employee benefits administration which strengthen relationships among employers, employees, and HR suppliers. In addition to its award-winning employee portal, the company develops HR self-service, workforce management, and other workplace e-commerce solutions that drive productivity gains and improve overall employee satisfaction. Workscape's solutions are used by millions of employees at 180 major corporations worldwide. For more information, visit the company at www.workscape.com or call (888) 605-9620.
Workscape is a registered trademark of Workscape, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.