ORLANDO, Fla., Sept. 28, 2009 (GLOBE NEWSWIRE) -- Workstream Inc. (TM) (OTCBB:WSTM), a leading provider of on-demand compensation, performance and talent management software that helps companies manage the entire employee lifecycle, today announced it was ranked No. 408 in Software Magazine's Software 500 listing of the world's largest software and service providers.
Now in its 27th year, the Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing.
"The 2009 Software 500 results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of $491.3 billion worldwide for 2008, representing 8.8 percent growth from the previous year," commented John P. Desmond, editor of Software Magazine and Softwaremag.com.
"Our inclusion in the Software 500 reflects the hard work of our Workstream team and our dedication to customer service to our growing customer base," says Steve Purello, Workstream CEO. "Our software solutions help companies around the world hire the very best people, maximize their productivity, and manage compensation in these challenging times."
Workstream's talent management solution provides a unified view of all Workstream products and services, including Workstream's dynamic Pay for Performance solution. Beyond mere process automation, Workstream's TalentCenter enables strategy execution by providing superior decision support to help users align decisions with organizational strategy and vision.
"The Software 500 helps CIOs, senior IT managers and IT staff research and create the short list of business partners," Desmond says. "It is a quick reference of vendor viability. And the online version to be posted soon at www.Softwaremag.com is searchable by category, making it what we call the online catalog to enterprise software."
The ranking is based on total worldwide software and services revenue for 2008. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co. and posted at www.Softwaremag.com, as well as from public documents. For more information and to see the complete 2009 Software 500, visit www.Softwaremag.com.
About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
About Workstream Inc.
Access to Workstream's talent management solution is offered on a subscription basis under an on-demand software delivery model to help companies build high performing workforces while controlling costs. With offices across North America, Workstream services such customers as Kaiser, Marshfield Clinic, Chevron, The Gap, and Nordstrom and several government agencies. For more information, visit www.workstreaminc.com, or call (407) 475-5500.
The Workstream, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6175
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Workstream's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to grow our client base and revenue because of the number of competitors and the variety of sources of competition we face; client attrition; inability to offer services that are superior and cost effective when compared to the services being offered by our competitors; inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to enter into successful strategic relationships and other risks detailed from time to time in filings with the Securities and Exchange Commission.