Achievement recognizes pace-setting growth in workforce management
Marc Moschetto, Vice President of Marketing, from WorkForce Software appeared on the HRchitect WebMingle on August 12, 2010. HRchitect’s Matt Lafata, one of the industry’s leading Talent Management Systems analysts, attended WorkForce Software’s Vision 2010 conference.
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WorkForce Software, the leading provider of workforce management solutions for organizations with complex labor policies and stringent compliance demands, announces that it has earned a spot on Inc.’s prestigious 500|5000 list for the fifth consecutive year.
An exclusive ranking of the nation’s fastest-growing private companies, the Inc. 500|5000 list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. WorkForce Software joins Spirit Airlines, Vizio, Honest Tea, and Dunkin Donuts, among other prominent brands featured on this year’s list.
Propelled by 98% growth over the last three years, WorkForce Software achieved rankings of #173 in the software industry and #2426 overall in the 2011 list. The company’s consistent growth has accelerated in 2011, as well, rising 61% over 2010 results through the first two quarters. Strong sales of its EmpCenter® workforce management suite, boosted by the release of an industry-leading absence management solution and record levels of client renewals and re-investments, contributed to the company’s recent success.
“There are few distinctions as widely read and regarded as Inc’s 500|5000 list, and it is quite an honor to be ranked among the fastest growing private businesses for a fifth year in a row,” noted Kevin Choksi, WorkForce Software’s President & CEO. “That we’ve been able to sustain rapid growth throughout our 12-year history is a testament to our employees’ investment in making our clients successful, to our clients’ extraordinary spirit of partnership, and to our strategy of delivering the most flexible and complete workforce management solutions on the market.”
In a stagnant economic environment, median growth rate of 2011 Inc. 500|5000 companies remains an impressive 94 percent. The companies on this year’s list report having created 350,000 jobs in the past three years, and aggregate revenue among the honorees reached $366 billion, up 14 percent from last year.
“Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is,” says Inc. magazine Editor Jane Berentson.
WorkForce Software’s span of multi-year growth also coincides with a dramatic transformation of the HR function. Historically a tactical department, HR is increasingly asked to deliver measurable results and competitive advantage for the organization. To perform this more strategic role, HR needs greater insight into the activities and effectiveness of their global workforce – a level of visibility only possible through best-in-class solutions such as WorkForce Software’s EmpCenter.
Gartner Research analysts Jim Holincheck and Thomas Otter observed this shift in a July 2011 report, noting that, “Since 2004, the focus for most HR organizations has shifted away from system of record applications (as embodied by core HR management system [HRMS] solutions) to systems of differentiation (embodied by talent management or workforce management applications).”