Financial Institution Experiences Tangible Business Benefits with Ultimate Software's UltiPro

Financial Institution Experiences Tangible Business Benefits with Ultimate Software's UltiPro

WESTON, Fla., Feb. 2 /PRNewswire-FirstCall/ -- Ultimate Software (NASDAQ:ULTI), a leading provider of Web-based payroll and workforce management solutions, announced today that Community Bank of Florida has experienced cost savings, efficiencies, and strategic improvements to its HR department since rolling out UltiPro's Web self-service for employees.

In January 2003, Community Bank of Florida rolled out the new functionality to its workforce and simultaneously migrated to a paperless payroll. With UltiPro, businesses can place employees' direct deposit advices on line, eliminating the costs and work associated with printing, stuffing, and mailing paychecks. As a result, the company is saving thousands of dollars each year.

"The financial benefits gained from UltiPro's Web functionality have more than paid for any investment we made implementing and rolling it out," said Marlene Porter, Community Bank of Florida's senior vice president and director of human resources. "We've been able to gain one day of staff time each pay period by doing away with printing and distributing direct deposit advices. We also do not need to spend money on the paper, ink, and printers that were previously required."

In addition to the cost savings from e-payroll, Community Bank of Florida's HR and payroll staff is experiencing efficiencies by automating many nonstrategic processes, such as making employee address changes, keeping training history current, and tracking company property online. Employees can log onto UltiPro using an Internet connection and view and update information when it's convenient for them. UltiPro's built-in workflow automatically passes employee requests to Porter's staff for review and approval, dramatically reducing the time spent on these transactions.

"Before we used UltiPro's self-service, we received about 60 calls a week from employees asking us to make changes to their personal information," said Maylen Santana, HR manager for Community Bank of Florida. "It was becoming an administrative nightmare. Now that they can make these adjustments themselves, we get very few calls. My team has been able to focus on more strategic projects that will add real value to our bottom line."

With the extra time, Porter has redirected her staff to undertake projects such as identifying and developing special programs for top performers. By mentoring these individuals, the company hopes to improve retention of its best employees and make the most of their skills and abilities. Without UltiPro's self-service tools, Community Bank of Florida's employee management staff would not have had the time to devote to this type of critical project. ...."UltiPro has played an important role in allowing us to make the most of our HR department and, ultimately, make the most of our talented workforce to benefit our organization," said Porter. ...."Ultimate Software has more than 50 customers in the finance and banking industry, and I believe that much of that penetration is because of the business benefits they experience as a result of UltiPro," said Greg Swick, senior vice president of sales for Ultimate Software. "I am pleased that financial organizations like Community Bank of Florida recognize that value."

About Ultimate Software

Ultimate Software, a leading provider of Web-based payroll and workforce management solutions, markets award-winning UltiPro as licensed software, as a hosted application through Intersourcing, and as a co-branded offering to Business Service Providers (BSPs) under the "Powered by UltiPro" brand. The Company employs approximately 450 professionals who are united in their commitment to developing trendsetting solutions and delivering quality service. Ultimate Software customers represent diverse industries and include such organizations as Benihana Restaurants, The Container Store, Elizabeth Arden, The Florida Marlins Baseball Team, The New York Yankees Baseball Team, Omni Hotels, Ruth's Chris Steak House, SkyWest Airlines, and Trammell Crow Residential. More information on Ultimate Software's products and services can be found at http://www.ultimatesoftware.com/.

UltiPro and Intersourcing are registered trademarks of The Ultimate Software Group, Inc. All other trademarks referenced are the property of their respective owners.

For Sales Information:
Ultimate Software
Phone: (800) 432-1729
Web site: http://www.ultimatesoftware.com/

Photo: http://www.newscom.com/cgi-bin/prnh/20020327/ULTIMATELOGO
Source: Ultimate Software

CONTACT: Darlene Marcroft of Ultimate Software, +1-954-331-7444,
darlene_marcroft@ultimatesoftware.com

Web site: http://www.ultimatesoftware.com/


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