Company Greatly Increased Revenue, Welcomed Many New Global Clients
LIVONIA, Mich. (March 9, 2015) – WorkForce Software, the leading cloud-based provider of enterprise workforce management solutions, today announced details of its strong 2014 performance, including significant revenue growth, increased global demand, and high-profile recognition for its culture, solutions and sustained growth.
“Employers are increasingly looking for a single solution to manage employee time, schedules and absences on a global basis,” said Kevin Choksi, co-founder and CEO of WorkForce Software. “The past year was one of our most successful to date, with mid-sized to marquee employers in numerous regions selecting EmpCenter as their cloud-based workforce management suite.”
Client Growth and Sales Success
With its EmpCenter® suite, WorkForce Software provides a unified cloud-based platform for managing a wide range of strategic operations, from schedule management and tracking employee hours, to mitigating the risk of employee fatigue, controlling labor costs and complying with complex labor regulations.
In 2014, the company’s overall revenue grew by 21 percent, with SaaS revenues again showing the most marked increase year over year. Revenues from SaaS subscriptions rose 61 percent in 2014, compared to 2013. Substantial momentum in Europe contributed to these strong results, with the company doubling its number of active users across the continent and welcoming high-profile clients in the auto manufacturing, reinsurance, and paint and specialty chemicals industries. WorkForce Software also saw burgeoning demand in Canada, with a record number of new Canadian clients, including a major airline, one of the country’s biggest cities, a leader in paper-shredding and related business services and a top five oil and gas producer.
WorkForce Software also solidified its reputation as the workforce management solution provider of choice in the energy and petrochemical sectors. Two of the largest gas and electric utilities companies in the United States, along with numerous regional and municipal providers, joined the EmpCenter user community. Likewise, major insurance providers continued to partner with WorkForce Software for an enterprise solution, with three of the top five property and casualty insurers in the U.S. now leveraging EmpCenter for critical workforce tasks.
Notable alliances were also formed and strengthened over the course of 2014, giving EmpCenter clients access to more integrated solutions and expert consultants than ever before. WorkForce Software continues to be the workforce management partner of choice for leading HCM vendors and the value-added partners in their respective ecosystems. EmpCenter’s ability to complement and extend an organization’s core HR system has long been an advantage for clients, and a growing list of vendor-supported integrations makes it even easier to connect these critical HCM tools.
In addition, new partnerships with multiple systems integrators substantially increase the number of EmpCenter experts in regions across the globe. These developments, and the continued expansion of WorkForce Software’s partner network, can assure buyers in search of cloud-based workforce management solutions that EmpCenter will fit neatly within their technology environment.
Awards and Recognition
Workforce Software also received significant recognition throughout 2014, with numerous industry and business associations highlighting the company’s superior technology and brisk growth. Awards and recognition received throughout 2014 include:
- Brandon Hall Group’s Excellence in Technology Awards: WorkForce Software won a coveted gold award in the “Best Advance in Time and Labor Management” category for its innovative EmpCenter Fatigue Management solution.
- Montclare SaaS 250: The company was again ranked among the most influential SaaS companies in the world by SaaS experts at Montclare.
- Inc 500|5000: WorkForce Software was named to this list of the fastest-growing private companies in the U.S. for the eighth consecutive year, and jumped ahead more than 2,000 spots from its previous year ranking, due to accelerating growth.
- Top Workplaces: For a third consecutive year, the Detroit Free Press named WorkForce Software a “Top Workplace” due to high employee satisfaction scores in an independent survey. This recognition is the latest in a long list of corporate culture accolades bestowed upon the company.
“There’s no question as to the importance of workforce management today,” said Mollie Lombardi, vice president of Workforce Management Practice and Principal Analyst at Brandon Hall Group. “Organizations increasingly realize that in order to execute their business strategy, they need a workforce strategy behind it. Workforce management solutions operationalize this strategy, allowing organizations to not only schedule and deploy the right person, but also to gather the human capital data they need to continue to improve productivity and performance.”
New Investors Bring Cloud Expertise, Greater Resources
In the second quarter, New York-based Insight Venture Partners assumed a majority equity position in WorkForce Software. With a multi-billion dollar portfolio comprised of sector-leading cloud technology providers, Insight Venture Partners is an ideal partner for the company’s next phase of expansion.
Looking to the Future
“I’m proud to share that WorkForce Software has yet again achieved new levels of success in 2014, a testament to the strengths of our team and the value of our solutions,” said Choksi. “With exciting developments in store for our EmpCenter suite, backed by a growing team of talented staff and like-minded organizations, 2015 is primed to be another exceptional year for WorkForce Software.”
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