Workstream Launches On-Demand Solutions for Mid-market Businesses

Business Wire, June 18, 2007

Levels Playing Field with Proven, Integrated Talent Management Suite, Previously Available Only to Global 2000 companies

Workstream Professional Recruitment, Performance and Development Designed for Companies with Under 2,500 Employees

BURLINGAME, Calif. -- Workstream Inc. (NASDAQ: WSTM), a leading provider of on-demand compensation, performance, and talent management solutions today announced three new on-demand solutions - Workstream Recruitment Professional, Workstream Performance Professional and Workstream Development Professional - for midsized businesses. Traditionally a large enterprise solution provider, Workstream is now broadening its product line to aggressively target companies with between 100 and 2,500 employees. The new Workstream solutions address a long-ignored need among mid-market companies for on-demand human capital management solutions that can be deployed quickly and work immediately out-of-the-box.

"Midsized businesses have an urgent need to automate talent management processes, improve compliance capabilities and most importantly, increase the efficiency and effectiveness of their entire workforce," said Deepak Gupta, President and CEO at Workstream. "Whereas other vendors offer niche solutions that increase costs and reduce flexibility, Workstream is launching a fully integrated suite of on-demand solutions to meet every company's talent management needs. Also unlike niche solutions, Workstream Professional solutions are based on the same product line being used today by Workstream Global 2000 customers. The result is that midsized businesses can achieve the same benefits that larger companies realize, including deep functional products and freedom from burdensome, ineffective systems, enabling organizations to focus more time on their most important assets - their employees."

Too many midsized businesses still manage HR processes manually, using spreadsheets and paper documents to track critical information. Unable to afford the high costs associated with implementing an integrated, automated solution for compensation, performance or talent management, they miss out on the opportunity to leverage the information they have to continuously improve the return received from their employees.

Workstream listened and responded to these issues with solutions that are smart, simple and for the first 30 days, cost-free. After 30 days, the solutions will be available to customers at a special introductory price for a limited time. Because the solutions are delivered on-demand and seamlessly integrated with one another, customers can expect fast implementation - often in a matter of hours - and freedom from silos of disparate data and piles of paper.

"In order to compete, mid-sized businesses must focus on and refine critical talent processes. When implementing software systems to automate these processes, solutions must be easy to use, quick to deploy, and competitively priced," said Josh Bersin, President of Bersin & Associates, a research and advisory firm focused on enterprise talent management and learning. "Workstream offers a series of on-demand products that meet these needs - and also match the power and flexibility once available only through high-end applications. With the on-demand model, the benefits of automating compliance- and HR-related processes is within the reach of companies of all sizes."

What Customers Are Saying

Workstream Professional solutions are based on the company's industry-leading enterprise products that are used today by organizations including American Express, Nordstrom, Washington Mutual and the Gap. Already, a number of high-profile midsized businesses have deployed Workstream solutions, such as EATELCORP, Halton Healthcare Services, Virgin Mobile Canada, SAS Institute, William Blair & Company, Blitz USA and The TDL Group.

"Workstream offers a variety of tools that are beneficial both to the organization and the employee," said Shanda Daugherty, Project Manager at Blitz USA. "Our organization utilizes the Workstream Development and Workstream Performance solutions. Workstream Development offers opportunities for self-motivated learning, in addition to being the catalyst for a lot of manager/employee conversations about personal development. Workstream Performance has opened up new possibilities for understanding the organization as a whole, the cascading organizational goals, and personal performance for each individual. Although we are still discovering the many innovative ways to utilize these tools, the benefits are already apparent."

"Workstream's recruiting solution was able to help us quickly and effectively streamline our people management processes," said Lorraine Rohm, Manager, Recruitment, at Halton Healthcare. "A critical component of the success of our workforce development strategy was that Workstream delivered its products on-demand in a SAS 70 Type II certified environment - so we know the solution was secure, functionally rich and cost effective for our organization."