HMS posts 3rd record year in a row: the best year in its 16-year history
Montréal, Québec - January 7, 2000 - Today, HMS Software announced its sales results for the 1999 fiscal year. Once again, the company has registered record growth, posting the best year in its 16-year history. HMS sales grew 20% for fiscal 1999, with growth attributed to all sectors. This gives HMS a combined growth exceeding 80% over the past 3 years. Of particular note was HMS Software's flagship software system: TimeControl. Sales of TimeControl were almost 200% of 1998 values according to president Chris Vandersluis. "TimeControl growth continues to exceed expectations," says Mr. Vandersluis. "The release of our Java version of TimeControl in early 1999 helped boost sales beyond expectations. With the Year 2000 issues now behind us, we believe HMS is poised for even more substantial growth this year." TimeControl growth over the last three years has been nothing less than spectacular, remarks Mr. Vandersluis. "With this year's numbers, TimeControl has grown an incredible 1,700% since 1996".
"TimeControl growth is attributed to a new emerging market for Activity-Based-Costing systems," Mr. Vandersluis reports. "This new market is growing at a stunning pace thanks in part to a recognition by mainstream management that managing by cost center, project and activity allows organizations to allocate their resources more effectively. TimeControl allows both Finance and Project Management areas of the company to be served by the same system." HMS continues to expand its international channels and exports according to Ermy Valenti, HMS Director of Sales. "Exports through our dealer channels were up 247% over last year". HMS expanded its client base in Italy, the UK, Finland, Hong Kong, Malaysia, Australia, the Netherlands, Spain, and the U.S., adding to its client list industry giants such as Frontier Communications, Ericsson, Koch Industries, First Trust Corporation, and Valmet. "Our goals for the year 2000 are to establish an even greater distributor and dealer network and to expand exports significantly," says Ms. Valenti.
HMS is reinvesting its profits in expansion, expecting growth that is even more significant for the year 2000. "With a Venture Capital investment completed this past September, HMS is in a superior position for greater expansion this year. We expect to aggressively expand sales both domestically and internationally. Sales of TimeControl are expected to increase dramatically as well as the new TimeControl for the Palm Pilot PDA expected for release at the end of Q1. Sales of our other services and distributed products are expected to expand as well. All in all, we are looking forward to a great start to the Millennium," says Mr. Vandersluis.
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.