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Driven by New Clients, Technology Innovation, Increased Bookings
and Revenues, BrassRing Positioned for Continued Momentum in 2006
Leading Provider of Talent Management Solutions Expands Global Presence;
Closes Q1 with Growth in Bookings, Revenues, Global Client Roster
WALTHAM, MA - April 20, 2006 - With growing global demand for BrassRing’s WorkForce By Design™ solutions -- which include technology, consulting and service offerings – the Company is pleased to announce that it has closed Q1 2006 with substantial revenue and booking increases. Additionally, the total number of new contracts signed with the Company during this time increased by 34 percent over the same period last year. Some notable new clients include: CDM, a consulting, engineering, construction and operations firm; DST Systems, Inc., a provider of sophisticated information processing and computer software services and products; Phillips Investment Resources, LLC, a division of Phillips International, Inc., one of the leading publishers in America providing a wide variety of quality products and services for the consumer investment and health marketplaces; and Chiquita Brands International, a leading international marketer and distributor of high-quality fresh and value-added produce.
Validating BrassRing’s unique approach to strategic workforce design, over 30 percent of the Company’s clients expanded their relationship with BrassRing by acquiring additional recruitment software and services in Q1, representing engagements across a wide range of industries including biotechnology, energy production, financial services, government, healthcare, insurance and technology.
Over 28 percent of BrassRing’s Q1 2006 revenues were generated by consulting and outsourcing engagements with new and established clients, representing an increase of 39 percent over the same period last year. Separately, BrassRing’s Q1 2006 consulting services revenues increased by 54 percent over the same period in 2005, with outsourcing services revenues increasing by more than 30 percent for the same period.
“BrassRing is well positioned for continued growth in 2006 and our success to date demonstrates that we are providing our customers with the optimal blend of technology, consulting and outsourcing they need to achieve a competitive advantage through talent management,” said Deb Besemer, President and CEO, BrassRing. “With a focus on further expanding our global footprint in 2006, BrassRing is committed to ensuring that organizations around the world benefit from our Workforce By Design™ approach, arming them with efficient and effective solutions to meet their talent lifecycle challenges.”
Four key indicators of global acceptance of BrassRing’s products, services and philosophy are the over four million employees worldwide currently represented by the Company’s client base; over 65 million resumes are currently under management in BrassRing’s Enterprise talent management solution; over one million user log-ins into Enterprise in Q1 of this year, which represents a 37 percent increase over the same period last year; and there were over 126,000 requisitions opened in Enterprise during Q1 2006, an increase of 37 percent over the same time last year.
Entering 2006 with notable enhancements to its Enterprise offering, BrassRing supports the talent management lifecycle and is setting new technology standards in candidate attraction, selection and information security. BrassRing now offers global enterprises advanced functionality including voice gateways and branded candidate experience features, allowing them to build better companies through strategic workforce design and optimize a workforce that is designed specifically for their industry, needs and business goals.
In anticipation of the Office for Federal Contractor Compliance Programs’ (OFCCP) final ruling on Internet applicants, BrassRing launched its OFCCP Compliance Optimization offering in Q1, the latest addition to the Company’s comprehensive Consulting Services. This new offering enables BrassRing clients to leverage the Company’s expertise to develop a recruitment process strategy that integrates the features of the BrassRing Enterprise solution to optimize the ability to comply with the Internet Applicant rule. BrassRing further affirmed its role as an industry thought leader by offering a series of educational Webinars on the OFCCP ruling, in advance of the ruling taking effect, with the goal of educating the HR community about the implications of the OFCCP ruling. It is noteworthy that BrassRing’s Enterprise solution was completely compliant prior to the effective date of the OFCCP ruling.
“BrassRing Consulting combines industry expertise, technology developments
and strategic partnerships to deliver the strategic advice that helps our
global customers build a better workforce,” said Gary Cormier, executive
vice president, talent services at BrassRing. “Along with our OFCCP
Compliance Optimization offering, clients benefit from a comprehensive portfolio
of services to address some of the most challenging workforce issues they
face today including global expansion, cultural fit assessment, workforce
planning, internal mobility, and change management planning and support
– while technology is the central component, it is also about empowering
organizations to make the right choices in attracting and retaining quality
talent.”
About BrassRing
Founded in 1999, BrassRing is a leading provider of talent management solutions that help businesses compete through talent and improve their position in the global marketplace. BrassRing’s Workforce by Design™ seamlessly integrates innovative technology, consulting and outsourcing with recruitment expertise to give clients the edge they need to successfully meet talent lifecycle challenges and build a competitive workforce -- in any economic climate. With Global, Secure and Compliant offerings, BrassRing provides the guidance and solutions necessary to help organizations identify, assess, recruit and retain a globally competitive workforce. BrassRing has earned a number of prestigious industry awards, including two consecutive Software & Information Industry Association Codie Awards (2004 and 2005) for "Best Human Resources Product" and the Sears "Partners in Progress" Award. Headquartered in Waltham, Massachusetts, BrassRing has operations in the United States and Europe. To learn more about BrassRing and its technologies, please visit www.brassring.com. BrassRing is a registered trademark of BrassRing LLC.
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SHIFT Communications
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