Workstream, Inc. Announces Growth Momentum In 2011
MAITLAND, Fla., June 8, 2011 /PRNewswire/ -- Workstream, Inc. (OTCBB: WSTMF), a leading provider of human capital management software and services, today announced that its TalentCenter business has generated renewed momentum through a combination of strong client retention, product enhancements and new clients. TalentCenter is a suite of compensation, performance and other human capital management solutions. Since the company's new management team took over in August 2010, Workstream has invested in R&D and client services to support the expansion.
John Long, Workstream CEO, said: "We are seeing increased interest in our TalentCenter solutions. The pipeline is more than 100% larger than it was this time last year. In the last six months we have added seven new TalentCenter clients with a total contract value of over $1 million. Our Pay for Performance solution combining compensation, development and performance management is gaining traction in the marketplace. More than ever, employers want to deploy automated solutions to help align individual goals and compensation strategies with their business objectives. Workstream's Pay for Performance solution allows employers to use incentives as a driver to change the culture of their organizations."
Workstream's TalentCenter Version 7.6 release greatly speeds up time to value for clients utilizing the Performance, Development, Communications and Compensation Management module. Enhancements include improved ease of use for client administrators, additional employee and manager self-service functions, improved ability to handle large groups, and an enhanced goal management offering. The TalentCenter release in Q3 of 2011 will include further improvements for the industry's leading compensation planning solution.About Workstream Workstream provides SaaS solutions for human capital management, allowing employers to align their talent and compensation strategy with their business strategy. To learn more, visit www.workstreaminc.com. Workstream's Incentives Advisors division is the industry leader in helping businesses capture and manage all government incentives available to them. To learn how Incentives Advisors, a Workstream company, can help companies hire more profitably, visit http://www.incentivesadvisors.com. This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Workstream's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to grow our client base and revenue because of the number of competitors and the variety of sources of competition we face; client attrition; inability to identify or complete the acquisition of quality target businesses; inability to integrate acquired businesses; inability to offer services that are superior and cost effective when compared to the services being offered by our competitors; inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to enter into successful strategic relationships and other risks detailed from time to time in filings with the Securities and Exchange Commission, including but not limited to those set forth under "Risk Factors" in Workstream's annual report on Form 10-K. The forward-looking statements herein reflect the company's expectations as at the date of this press release and are subject to change after this date. SOURCE Workstream, Inc.
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