UltiPro Software is a Sound Investment - Stephens Inc. uses Ultimate Software's human resources/payroll software - Brief Article

Workforce, Dec, 2000 by Diane K. Turner

* Ultimate's product serves the HR/payroll needs of Stephens Inc., one of America's largest investment banks.

when Stephens Inc., one of America's largest investment banks, sought the most sound human resource management system available for its own human resources and payroll departments, it invested its time and money in Ultimate Software.

Ultimate Software's UltiPro software ranks number one in integrated HR/payroll software in the latest IOMA Payroll Technology Satisfaction survey. A reliable product with a good reputation was just what Stephens Inc. had in mind.

Founded in 1933, with offices located in key markets throughout the United States and London, Stephens serves a broad client base of institutional and individual investors.

Since its inception, Stephens Inc. has also been a clear and innovative leader in public finance. The company is a major contributor to Arkansas's growth and has ranked first in managed or co-managed underwritings for the past nine years.

The success of Stephens Inc. stems from a unique philosophy that emphasizes relationships instead of transactions. That philosophy is an essential component of its inner workings as well. Ultimate Software helps the company keep up with cuffing edge technology while supporting a positive relationship between its human resources and payroll staff and its employees.

"We were recently faced with an expensive upgrade of our previous product because of Year 2000 issues," says Marty Morrow, vice president and associate director of human resources at Stephens Inc. "That, combined with our need for increased functionality, led us to look for something better."

Stephens Inc. needed an integrated Windows-based solution that provided monthly, quarterly, and annual balancing tools, complete general ledger detail records, and an easy-to-use report writer. Stephens Inc. purchased Ultimate Software's UltiPro HRMS/Payroll because it could perform all of these functions, and was far easier to use and maintain than other solutions on the market.

"Information is presented in a clear and logical manner." says Morrow. "Our previous system did not allow us to enter payroll changes with future effective dates, forcing us to hold changes until the appropriate payroll processing cycle. With UltiPro, changes are date driven and can be entered at any time, allowing us to provide much better service while lowering the stress level on our payroll and human resources staff."

Installation ran smoothly and there were no surprises. UltiPro has been very successful for both payroll and human resources. "Everything from maintaining employee records, to processing payrolls and issuing W2s is easier," says Morrow. UltiPro enables businesses to have fast, convenient access to individual employee information and critical workforce trends at a reduced cost.

UltiPro has proven to be such a successful investment for Stephens Inc. that it recently purchased UltiPro Web, which will provide manager and employee self-service. "It will allow employees to view personal information, tax filing status, benefits, and payroll information from their desktop," Morrow says. "Ultimate Software meets all our needs and offers solutions that are easy to use. We're happy to pass on the tip."