Cendant Corporation Upgrades to Workstream Compensation Release 5.OTTAWA -- Advanced Functionality Provides Greater Visibility and Control over Enterprise Compensation Planning Process for approximately 90,000 Employees in numerous Business Units across 5 Divisions Workstream Inc.,(TM) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : WSTM WSTM White Sands Transverse Mercator ), a provider of Enterprise Workforce Management Workforce Management (WFM) encompasses all the responsibilities for maintaining a productive and happy workforce. Sometimes referred to as HRMS systems, or even the larger ERP systems (Oracle, PeopleSoft, SAP). There are many software vendors within this space. software, today announced that Cendant Corporation (NYSE NYSE See: New York Stock Exchange : CD), a New York-based provider of travel and real estate services to businesses and consumers in over 100 countries, will upgrade to Workstream Compensation Release 5. The new release will facilitate greater visibility and command of Cendant's complex compensation planning process for its 90,000 employees that span 14 business units, including: corporate, hospitality, real estate, travel distribution, and vehicle services. "Cendant has utilized the end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. for planning, managing and communicating compensation programs throughout our organization," remarked Ed Pictroski, Senior Vice President of Compensation, Benefits, HRTS HRTS High Resolution Telescope and Spectrograph (orbiting solar observatory) HRTS Hollywood Radio and Television Society HRTS High-Resolution Telescope Spectrograph HRTS High Resolution Telescope Spectrometer at Cendant, a Workstream Compensation customer since August 2003. "The added capabilities of the Advanced Variable Pay product, improved Focal Planning and Advanced Reporting functionality in Release 5 will enable us to more effectively plan salary and variable pay programs for Cendant's diverse organization, while optimizing how valuable compensation dollars are being spent." Workstream Compensation enhancements will improve support for Cendant's diverse compensation needs and enhance planning for salary and variable pay within its decentralized de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. environment. The solution provides managers with an easy-to-use, web-based framework for compensation planning and analysis that allows all individual units to manage their own businesses as corporate manages the overall process. The advanced variable pay component enables Cendant to better manage sophisticated variable pay programs and ultimately link pay to performance. "By implementing Workstream Compensation Release 5, large multi-divisional companies like Cendant have the right technology in place to control costs and facilitate pay decisions that support their business strategy and create a high performing workforce," stated Michael Mullarkey, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Workstream. About Workstream Workstream Inc. (NASDAQ: WSTM) is a provider of hosted Enterprise Workforce Management software and professional services to the Global 2000. Workstream's products provide Recruitment, Performance, Compensation and Rewards Management for employees and corporations. Workstream was named to the Deloitte & Touche Fast 500 list of the fastest growing software companies for 2003. Through its 12 offices and 200 dedicated human resource employees across North America, Workstream services customers such as BearingPoint, Chevron, Eli Lilly Canada, The Gap, Home Depot, Kaiser Permanente, KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen Canada, Motorola, Nike, Nordstrom, Samsung, Sony Music Canada, VISA, Watson Wyatt, and Wells Fargo. For more information visit www.workstreaminc.com or call toll free 1-866-470-WORK. About Cendant Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately 90,000 employees, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based Cendant provides these services to businesses and consumers in over 100 countries. More information about Cendant, its companies, brands and current SEC filings may be obtained by visiting the Company's Web site at www.cendant.com or by calling 877-4-INFOCD (877-446-3623). This press release contains forward-looking statements within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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