Ultimate Software Positioned in Leaders Quadrant in Leading Industry Analyst Firm’s Magic Quadrant for U.S. Midmarket Human Resource Management Systems |
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Weston, FL, February 2, 2006 – Ultimate Software (Nasdaq: ULTI), a leading provider of Web-based payroll and workforce management solutions, announced today that it has been positioned in the Leaders quadrant of Gartner, Inc.’s recently published “Magic Quadrant for U.S. Midmarket Human Resource Management Systems, 2006.” Gartner considers “Leaders” in this Magic Quadrant to be “vendors whose performances excel in the U.S. for midmarket HRMS solutions” by delivering “breadth and depth of HRMS functionality” and “a strong vision to capitalize on emerging market trends.” Gartner also notes that, in addition to articulating “a business proposition that resonates with buyers,” leaders have the “viability and operational capability to deliver.”*
“I believe that Ultimate Software maintains its strong position in the industry because we have a proven history of delivering high-quality products and services, as demonstrated by our 97% customer retention rate,” said Scott Scherr, president, founder, and CEO of Ultimate Software. “Whether our customers take advantage of our on-site license model or our on-demand service model called Intersourcing, our customers can be confident that Ultimate Software is committed to product and service excellence and to sustaining a leadership role in the HRMS market.”
Also according to the report, Gartner predicts by a 0.8 probability that, by 2008, more than 50% of new HRMS purchases by U.S. midmarket customers will be made “with vendors through the on-demand/software-as-a-service model.” Ultimate Software buyers are already trending in that direction, with the majority of new customers in 2005 opting to acquire UltiPro Workforce Management through Intersourcing, Ultimate Software’s on-demand, software-as-a-service model.
“Ultimate Software is well positioned to address the growing popularity of HRMS delivered in the form of software-as-a-service with its proven track record with Intersourcing customers,” said Scherr. “A major differentiator in our on-demand solution is that we handle all our own hosting services rather than working with a third party to provide them to our customers. We started doing this in 2002 and have since extended our scope of services and built a large pool of satisfied customers for prospective buyers to talk with.”
*Gartner, Inc.: Magic Quadrant for U.S. Midmarket Human Resource Management Systems, 2006, by James Holincheck and Kirsten L. Recknagel, January 25, 2006.
The Magic Quadrant is copyrighted January 25, 2006, by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Ultimate Software, a leading provider of Web-based payroll and workforce management solutions, markets award-winning UltiPro as licensed software, as a hosted application through Intersourcing, and as a co-branded offering to Business Service Providers (BSPs) under the “Powered by UltiPro” brand. Employing approximately 500 professionals who are focused on developing the highest quality products and services, Ultimate Software was named the 2005 Payroll Provider of the Year by the Human Resources Outsourcing Association and listed among the 2005 Top 25 Best Medium-Sized Companies to Work for in America by the Great Place to Work Institute and the Society for Human Resource Management. Ultimate Software customers represent diverse industries and include such organizations as The Container Store, Elizabeth Arden, The Florida Marlins Baseball Team, The New York Yankees Baseball Team, Nintendo of America, Ruth’s Chris Steak House, and SkyWest Airlines. More information on Ultimate Software’s products and services can be found at www.ultimatesoftware.com.
UltiPro and Intersourcing are registered trademarks of The Ultimate Software Group, Inc. All other trademarks referenced are the property of their respective owners.
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