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Accero Enters New Phase of Growth
Accero announces a new phase of growth under new leadership
Portland, OR, February 2, 2011 – Accero, a leading payroll and human resources solutions provider for mid-sized and large companies, announced today that they will be entering into a new phase of growth. This new phase will be led by Sean Fallon, newly appointed Chief Executive Officer, who will succeed Tom Malone, Accero’s founding CEO.
Accero was formed in 2008 following the acquisition by Vista Equity Partners (“Vista”) of the Cyborg Systems division from Hewitt & Associates. Over the last few years Malone and the executive management team built a stand-alone company, reconnected with key customers and, for the first time in years, delivered new and innovative software for the Cyborg platform.
Robert Smith, CEO of Vista and Chairman of the Board of Directors for Accero, stated: “Under Tom’s leadership, Accero has been re-established as a leader in payroll and human capital management. Tom built a team that introduced new products, enhanced leading on-demand solutions, and demonstrated a commitment to customer success. Tom created an autonomous Accero, with a new and distinct identity. His leadership has been much appreciated.”
Mr. Malone stated, “I am pleased with the work we have done over the last three years. My goal has always been to transition Accero from a division within Hewitt to a stand-alone leader in providing payroll and human resource solutions. As we enter this next phase, I’m excited to transition the leadership responsibilities to Sean. I am confident he will be successful in building upon the foundation that has been created.”
Malone continued, “This next phase of growth is being driven by specific demands from our customers. They have told us that they need better insight, intelligence and reporting. They have expressed a need to lower their administrative cost by increasing the ability for their employees to support themselves. Lastly, and most importantly, they have asked for a hosted solution that offers lower total cost of ownership without losing the rich functionality in our current platform.”
Mr. Fallon spent the last decade of his career in senior leadership positions with enterprise software providers. He has held executive positions with Price Waterhouse, Trilogy Software, and most recently completed an executive-in-residence role with Austin Ventures. His focus has been operating and advising software companies serving Global 2000 customers. He has led more than a dozen technology acquisitions and managed teams across the globe.
Mr. Fallon stated, “With our award winning Workforce Intelligence solution, our Accero Self-Service offerings and our reliable and scalable Accero-On-Demand offering, I know we are well positioned to respond to the most pressing needs of our customers. I am pleased to be part of the next phase of growth at Accero. I look forward to strengthening the foundation that has been created.”
“We are proud and appreciative of the work Tom Malone and his team have accomplished at Accero. We look forward to working with Sean Fallon as he leads the Accero team through an exciting new phase of growth,” concluded Mr. Smith.
Accero (formerly Cyborg Systems) delivers high-performance, best-in-class Human Capital Management software and SaaS solutions that streamline payroll, human resources and benefits administration processes for mid-sized and large organizations. Innovative and customer-driven, Accero provides solutions for organizations and government entities in North America, the UK and Australia.
Accero’s recent accomplishments have been acknowledged by leading industry standards. In 2010, Accero won the Stevie Award® for Sales & Customer Service in the “company turnaround” category. Also in 2010, Accero Workforce Intelligence™ was named one of the Top HR Products of the Year by the editors of Human Resource Executive® magazine.
This press release was distributed through PR Web by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.