HMS posts record year for 1998
MONTREAL - January 28, 1999 - HMS Software announced sales results for its 1998 fiscal year. Once again the company has recorded record growth, posting the largest year in its 15 year history.
HMS sales grew 33% for fiscal 1998 with growth attributed to all sectors. Of particular note was HMS Software’s flagship software system, TimeControl. Sales of TimeControl were almost 300% of 1997 values according to president Chris Vandersluis.
"TimeControl growth continues to exceed expectations," says Vandersluis. "Sales of our client/server version in 1998 was everything we were hoping for and more. The demand for project-oriented timesheet systems is, in our opinion, growing significantly every year."
HMS attributes the popularity of TimeControl to several factors starting with the Y2K problem or the so-called "Millennium bug". "TimeControl is a great solution for mid to large organizations whose timesheet systems are not yet Year 2000 compliant," explains Vandersluis. "As a shrink-wrapped solution, TimeControl can be implemented immediately and often at a fraction of the cost of fixing and maintaining legacy systems."
1998 Sales were fueled in part by revenues from international channels. "Aside from North American sales, TimeControl revenues included new clients in the UK, in Italy, in Australia and elsewhere in Europe," according to Ermy Valenti, HMS Software’s Sales Manager. "We are very excited about our international partners and expect much more from them in 1999.
HMS is reinvesting its profits in expansion, expecting an even more signficant growth of TimeControl for this year. "With the results we’ve already produced, we have already expanded both our Montreal and Toronto offices," says Vandersluis. "Our marketing budget for TimeControl has been increased by 1,000% and our staff is expected to more than double by the end of 1999. We are expecting sales of TimeControl to increase by 600% to 1,000% this year alone.
TimeControl was originally released in 1994. It was immediately successful in the project management sector and today is recognized not only as a project management solution, but also as an enterprise timesheet solution in use by companies worldwide. TimeControl is designed as a multipurpose timesheet able to serve the needs of both Finance and Project Management simultaneously. It includes features such as a multi-browser, multi-device interface, a PC and mobile interface, vacation approvals, executive dashboards, extensive approval functionality, flexible reporting and links to project management and corporate systems which makes the timesheet product ideally suited for integration with existing systems in any organization. TimeControl's flexibility allows it to be deployed for use as a time and attendance, time and billing, project tracking and flex-time system. TimeControl is available both for purchase for an on-premises installation or as an on-line subscription in the Cloud.
To access the free Hosted TimeControl Trial site, visit our free trial page.
For information about TimeControlOnline, our hosted timesheet subscription service in the cloud, go to www.timecontrol.com/features/timecontrol-online.
For any other questions, please contact HMS Software at firstname.lastname@example.org.
TimeControl is represented around the world by our distributors in Argentina, Australia, Brazil, Canada, Chile, Croatia, Czech Republic, Egypt, Finland, Ireland, Mexico, the Netherlands, New Zealand, Norway, Russia, Singapore, Sweden, Thailand, the UK, and the U.S.
About HMS Software
Based in Montreal, Canada with offices in Toronto, HMS Software has been a leading provider of project management and enterprise timesheet systems and services since 1984. HMS Software's first customized timesheet application was written in 1984. With the launch of TimeControl as a commercial application in 1994, HMS Software began servicing clients worldwide.
HMS Software's client list reads like a who's who of business. It includes Acergy, Aecon, Rio Tinto, the Atlanta Airport, the City of Montreal, the County of San Mateo, Electromotive Diesel, EXFO, FT Services, Kelly Services, Koch, Merck Frosst, the Government of Quebec, Georgia Pacific, Parker Hannifin, Rolls Royce, Sobeys, Volvo Novabus, Zimmer Inc. and hundreds of others.