HMS announces 2008 results
Leading provider of enterprise project and timesheet systems expands in challenging economy
Montreal, Quebec January 14, 2009 - HMS Software, a division of Heuristic Management Systems Inc. has announced its financial results for the 2008 fiscal year that ended December 31st, 2008. The Montreal-based company is an internationally renowned specialist in enterprise project management and enterprise timesheet systems.
As a privately held company, HMS did not disclose complete financials but has announced that the year was both a growth year and profitable according to its CEO.
"We're delighted at the strong performance by HMS this year," said Chris Vandersluis, President and founder of HMS. "HMS Software's products and services are proving to be well-suited tools for companies who need to be effective in a particularly challenging economy. This year saw an overall growth of more than 20%."
HMS has two main streams of business revenue. One from the sale and support of TimeControl, its enterprise timesheet system designed for project environments, the other from Consulting Services which includes the implementation of enterprise project management systems.
"Both aspects of our business grew in 2008," reports Vandersluis, "TimeControl is a tried and proven product that enjoys a very strong reputation in the industry. Knowing where payroll dollars are being consumed is vital in this economy and that's exactly what TimeControl provides. Our Consulting Services growth last year was also significant. We credit this to organizations which look to project-oriented management when business conditions are challenging."
HMS Software's TimeControl timesheet system is enjoying its 25th anniversary on the market and has been deployed to over 100,000 users worldwide. "We're very happy with the ongoing strength of the TimeControl market," said Vandersluis. "TimeControl product sales and related technical services were both up this year and the product continues to find new users in both North America and overseas. New TimeControl users in 2008 included organizations including: the City of Montreal, San Mateo County in California, FT Services, Sandoz and Dundee Securities among others. Our services business also enjoyed new clients in 2008 including: L'Oreal, JD Irving, ABB and the CDPQ in Quebec."
When asked about expectations for 2009, Vandersluis remains positive. "We're looking forward to a strong year," he says. "HMS has been in this industry now for 25 years and we've experienced both strong and weak economies. When the economy expands, organizations look to us to help with new projects and when the economy is challenged, they also look to us to help with being as efficient as possible. Making organizations more effective is what we do."
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.