SilkRoad technology Announces Q3 Results for 2010

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Third Quarter Highlights Include Record Sales Growth and Strategic Partnerships

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“Once again, our employees’ efforts prove we have the best team in the software industry,” said Andrew J. “Flip” Filipowski, Executive Chairman and CEO of SilkRoad technology."

Winston-Salem, NC (PRWEB) October 14, 2010 -- SilkRoad technology, inc., a leading provider of talent management solutions, announced today the third quarter for 2010 marked its 29th consecutive period of sales growth. Highlights from the quarter include record sales growth, key partnerships, and continued industry recognition.

SilkRoad experienced a record number of new clients and of clients purchasing its core HR solution, HeartBeat, this quarter. Some of the new HeartBeat clients include: York Risk Services Group, Imperva, Marin Software, McNichols Company, and Primatics Financial.

Other new SilkRoad technology clients include: DeVry, CDI Corporation, Boys & Girls Club of Greater Milwaukee, The Land of Nod and Seattle Biomedical Research Institute.

In Q3, SilkRoad also continued to be the leader in providing the healthcare market with talent management solutions and signed several new clients for multiple Life Suite solutions including: Memorial Sloan-Kettering Cancer Center, Scripps Health, WellSpan Health, and Harden Healthcare.

SilkRoad continues to build and expand strategic partnerships such as TaxBreak, the foremost expert and outsourced processor of government tax credits and incentives. In this partnership, TaxBreak will deliver employee tax credit processing to SilkRoad clients. Through a seamless integration, SilkRoad customers can now utilize TaxBreak’s services to determine tax credit eligibility, and for tax credit processing. The partnership allows SilkRoad customers to potentially save thousands of dollars in income taxes by instantly determining if current employees are eligible for any current tax breaks.

“Once again, our employees’ efforts prove we have the best team in the software industry,” said Andrew J. “Flip” Filipowski, Executive Chairman and CEO of SilkRoad technology. “With their dedication and hard work, we continue to grow, sign new clients and develop the best available software in talent management.”

SilkRoad technology also sponsored an Aberdeen Group study this quarter, looking at how organizations take the administrative nightmare out of managing benefits, scheduling, payroll, compliance, and other functions of core HR. The report found that top performing companies in Core HR lowered error rate in payroll processing to just 0.5% and reduced manual transactions by 7% year-over-year. The Future of Core HR: Building the Business Case for Automation and Integration report concluded that automation, integration, and employee self-service are the keys to a more efficient HR practice and showed the importance of Core HR Solutions.

The company continued to receive industry recognition in Q3 and was honored with several award nominations. Recent recognitions include:

The Business Journal’s Fast 50 awards program – SilkRoad was named the fourth fastest growing company in the Triad by The Business Journal. The awards program is the premiere business-growth competition in the Triad. This year's awards ceremony and special publication honor the successes of private businesses, and the growth and contribution of the 50 dynamic winning companies that have strong impact on the Triad's economic success.

North Carolina Technology Association’s (NCTA) 21 Awards - SilkRoad is a finalist for ‘Software Company of the Year.’ The NCTA 21 Awards are recognized as North Carolina’s most prestigious awards, celebrating innovation and excellence in North Carolina. This annual showcase honors companies and individuals in 21 categories who represent the best and brightest in technology and business.

About SilkRoad technology, inc.
SilkRoad technology, inc. provides software as a service (SaaS) solutions that significantly improve the talent within its more than 1500 customers across the globe. Through SilkRoad’s Life Suite™, an integrated talent management solution, companies are able to hire better employees, identify high and low performers, drive a pay-for-performance culture and improve employee tenure. The SilkRoad Life Suite solution set includes: OpenHire™, for recruiting management; RedCarpet™ for employee onboarding and life events; WingSpan™ for flexible employee performance management; GreenLight™ for learning management; Eprise™ for employee intranets and content management; and HeartBeat™ for core HR.

SilkRoad technology is headquartered in Winston-Salem, NC with offices in Bedford, MA; Chicago, IL; Red Bank, NJ; Jacksonville, FL; San Francisco, CA; Edmonton, Canada; Singapore; Sydney, Australia; Auckland, New Zealand; and Hamburg, Germany. More information is available on the Web at http://www.silkroad.com or by phone: U.S. toll free at 866-329-3363 or internationally at +1-336-201-5100. Follow SilkRoad technology on Twitter at http://www.twitter.com/SilkRoadTweets.

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Sabrina Pietryga
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