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November 28, 2005 |
Workforce Management Leader CyberShift Acquires Expense Management Pioneer Necho Systems
- Innovative Solutions to Address Top Two Controllable Expenses Impacting Midsize to Large Companies Today -
Parsippany, N.J. - November 28, 2005 - CyberShift, a leading provider of workforce management software and services, today announced it has acquired Necho Systems Corp., the Toronto-based global leader in expense management software. This strategic acquisition combines innovative solutions that help decision-makers at midsize to large, complex companies better manage their top two controllable business costs: labor and employee expenses.
CyberShift's Web-based, enterprise-class workforce management solutions are focused on improving organizational performance and profitability by optimizing and managing the deployment of an organization's labor force through an integrated suite of applications. Through time and attendance, advanced scheduling and reporting and analytics, companies can more effectively plan, manage and deploy their workforces.
Necho's solutions automate the processing and facilitate the management of employee business expenses, the second-largest controllable expense after labor costs. Necho helps business leaders such as American Electric Power, Enbridge and Loomis Sayles achieve greater control over costs through expense management. It helps them improve compliance, enforce expense policies and procedures and increase visibility into operations through data capture and reporting.
"With compliance mandates like Sarbanes-Oxley, today's global enterprises must track and monitor all business expenses," said Robert E. Farina, CyberShift's chief executive officer. "Together with Necho's solution, CyberShift addresses two of the largest areas of opportunity for operational improvement in companies today, broadening the footprint of our workforce management capabilities to bring to market a comprehensive solution that can rapidly achieve business value for our clients."
Expense management is a complementary product to CyberShift's existing business and a strategic component of CyberShift's product roadmap, offering cross-industry appeal and a high ROI. The combined CyberShift/Necho product set offers scheduling optimization, time and labor management, expense management and workforce analytics under a unified workforce interface. CyberShift and Necho share similar client profiles, compatible geographic coverage and completely compatible technology architectures with proven capabilities for both in-house and Software-as-a-Service (SaaS) deployment models.
For organizations with a large, diverse workforce, responsiveness and controls must go hand-in-hand. Better managing employee-related costs is often the single-most effective way to streamline expenses and immediately impact the bottom line.
For more information about Necho visit www.necho.com.
About CyberShift
CyberShift, Inc. (www.cybershift.com) is a leading provider of workforce management software and services focused on helping large, complex organizations optimize and manage the deployment of their people. CyberShift's rules-based platform delivers a fully integrated solution for the management of all aspects of time and attendance, scheduling, self-service functions and workforce reporting and analytics. The enterprise-class workforce management suite reduces costs and improves processes for a variety of industries, including manufacturing, retail, transportation, financial services, media and entertainment, business services and the public sector. CyberShift is the workforce management solution provider of choice for many of the largest organizations throughout the United States and Canada.
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Strategic Workforce & Expense Management
