SOURCE: CyberShift Inc.

CyberShift Inc.

June 21, 2010 09:00 ET

CyberShift Named as Finalist in the 2010 Red Herring 100 North America Award

PARSIPPANY, NJ--(Marketwire - June 21, 2010) -  CyberShift, a global provider of workforce management and expense management software and services, today announced it has been selected as a finalist in the 2010 Red Herring's North America 100 award program, an influential list honoring the year's most promising private technology ventures from the North American business region.

Recognized for exceptional achievement in software and technology, CyberShift Workforce Management 3G™ and CyberShift Expense™ enable companies to control two of their largest variable costs: labor and employee expenses. In addition to its On Demand Software-as-a-Service (SaaS) and On Premise deployment options, CyberShift is a premier provider of global mobile workforce and expense management solutions, ensuring that traditional as well as non-traditional employees are properly equipped with the tools needed to be productive and efficient, regardless of location.

Robert E. Farina, CEO, CyberShift, said, "To be recognized as a finalist in the Red Herring North America 100 program is an honor. This is further validation of our commitment to providing best-in-class workforce and expense management solutions that meet the demands of today's increasingly complex and mobile workforces." 

The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across North America. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries. This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz" and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.

"This year was especially difficult," said Alex Vieux, publisher and CEO of Red Herring. "Despite the global economic situation, there were many great companies producing really innovative and amazing products that we had a difficult time narrowing the pool and selecting the finalists. CyberShift shows great promise and therefore deserves to be among the finalists. Now we're faced with the difficult task of selecting the Top 100 winners of Red Herring North America award. We know that this year's crop will grow into some amazing companies that are sure to go far."

Finalists for the 2010 edition of the Red Herring 100 North America award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, and clean tech industries sent in their submissions to qualify for the award.

Finalists are invited to present their winning strategies at the Red Herring North America Conference in San Diego, June 22-24, 2010. The Top 100 winners will be announced at a special awards ceremony on June 24 at the event.

About CyberShift
CyberShift specializes in providing leading organizations with best-in-class workforce and employee spend-management solutions to reduce costs, mitigate compliance risk and increase productivity. Our solutions help organizations of all sizes address complex policies and increase the effectiveness of their workforce in delivering products or services to their customers every day. CyberShift's comprehensive product suite is unique in providing multi-national capabilities for employee scheduling, time-and-attendance, contingent labor management, absence management, expense management and solutions for the mobile workforce. CyberShift manages over 1.5 million transactions daily through our highly secure SaaS delivery model, and is also available as an On Premise license, putting the power of choice in the hands of the customer. For more information, please call (877) 274-4381 or visit www.cybershift.com.