Product bookings up 30%, monthly recurring revenue up 33%, new clients increased by 70%
San Mateo, CA – May 8, 2014 – Ascentis Corporation, a market leader in easy-to-use human resources software, online payroll services, and human capital management (HCM) solutions, today announced significant growth in fiscal year 2013 (FY2013) with a 30% increase in bookings and 33% increase in monthly recurring revenue.
“2013 was another very successful year for Ascentis and our clients,” said Ascentis CEO DJ Chhabra. “We continue to see strong growth in every aspect of the business, including significant growth in monthly and annual recurring revenue. Client retention remains strong as Ascentis’ fanatical approach to client satisfaction continues to pay off. We are well positioned for continued growth in 2014 and are very excited about the release of the new Ascentis suite of products and platform. These product releases through 2014 will deliver the next generation of HCM solutions that the marketplace has been anticipating and anxiously awaiting. We are very pleased that Ascentis will be the first human capital management provider to execute on this vision and deliver the capabilities that will truly transform our marketplace.”
“SUJA Juice made the decision to purchase Ascentis in the fall of 2013,” said Heather Thomaselli-Baker, vice president of operations at SUJA Juice. “We chose Ascentis because of great customer service, fair pricing and the ability to help streamline our HR and payroll processes with their robust functionality. Since that time we have implemented Ascentis HR with a dedicated implementation consultant from Ascentis and that experience has been a very smooth and informative transition.”
“Our Ascentis implementation process has been a wonderful experience,” shared Jill Bluse, benefits analyst with Summit Healthcare Regional Medical Center. “We had our own implementation consultant work with us through the entire process, start to finish, and they were great to work with.”
Key additional highlights from FY2013 include:
New Clients: Ascentis increased new clients by 70% in FY2013, compared to FY2012. Additions to Ascentis’ growing client list in 2013 include: Profinium Financial, Tropical Financial Credit Union, Pharmacare, Woodland Park Zoo, Unidine Corporation, SUJA Juice, Medford Medical Clinic, and Summit Healthcare Regional Medical Center.
Awards: Ascentis again attained industry recognition as one of the fastest growing private companies in the software industry. This award is the third consecutive award from JMP Securities, a full-service San Francisco-based investment bank.
Product Updates: During 2013, Ascentis released several major enhancements across the HCM suite, including integration with NetSuite, new off-boarding workflows, enhancements to the tax engine, advanced document management capabilities, as well as enhancements to help clients manage healthcare reform.
Executive Additions and Promotions: Ascentis promoted Joelle Vail, previously vice president of company and sales operations to vice president of sales and marketing. In this role Vail has responsibility for all sales and marketing initiatives, including the growth of business through direct and channel sales, as well as up-sell opportunities to the Ascentis client base. Vail has been with Ascentis for more than one year and was previously with another well-known HCM firm for 15 years in a number of sales management roles. Gwen Sheridan also joined the executive team in 2013 as vice president of client success. Sheridan has spent her career in business-to-business services, supporting HR and finance executives. She led HR research efforts for the Corporate Leadership Council (CEB), and oversaw account management and client support for PayScale, a provider of compensation data. Sheridan holds a bachelor’s degree from Princeton University and an MBA from the Kellogg Graduate School of Management.
‘When our organization began looking for a new human capital management suite in 2013 we wanted a system that was easy-to-use, and also offered depth of product functionality and complex reporting capabilities. We found all that in Ascentis,” revealed Mandi Fillmore, Woodland Park Zoo benefits and payroll supervisor. “Our implementation has been seamless, and our staff has been able to recognize the value of the product immediately. We have been impressed with the people and the products that Ascentis provides, and would recommend them to other organizations.”
Ascentis, backed by Palm Ventures, LLC and Catalyst Investors, offers easy-to-use workforce management HRIS, online payroll and timekeeping solutions that support greater business efficiency and accuracy. Ascentis technology automates critical processes such as full scale benefits management, compliance, online open enrollment, time and attendance, real-time payroll processing, tax filing, applicant tracking, employee and manager self-service and reporting. One point of data entry means employee information is accurate, up-to-date and reportable. Electronic submission of information to insurance carriers eliminates errors and supports a paperless open enrollment process. Ascentis offers world-class customer service and continues to add software offerings to its portfolio of workforce and human capital management solutions.
NetSuite Inc. is the industry’s leading provider of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software suites. In addition to financials/ERP software suites, NetSuite offers a broad suite of applications, including accounting, Customer Relationship Management (CRM), Professional Services Automation (PSA) and ecommerce that enables companies to manage most of their core business operations in its single integrated suite. NetSuite software allows businesses to automate operations, streamline processes and access real-time business information anytime, anywhere. For more information about NetSuite, please visit www.netsuite.com.
CEB, the leading member-based advisory company, equips more than 10,000 organizations around the globe with insights, tools and actionable solutions to transform enterprise performance. By combining advanced research and analytics with best practices from member companies, CEB helps leaders realize outsized returns by more effectively managing talent, information, customers and risk. Member companies include approximately 85% of the Fortune 500, half the Dow Jones Asian Titans, and nearly 85% of the FTSE 100. Read more at www.cebglobal.com [cebglobal.com].
For more information about Ascentis, send media inquiries to firstname.lastname@example.org or contact Heather Bansemer at 1.800.229.2713 x174.