SOURCE: CyberShift, Inc.

CyberShift, Inc.

January 04, 2011 07:00 ET

CyberShift Is a Finalist for the 2010 Red Herring 100 Global Award

PARSIPPANY, NJ--(Marketwire - January 4, 2011) - CyberShift, a global provider of workforce management and expense management software and services, today announced it has been selected as a Finalist for Red Herring's top 100 Global award, a prestigious list honoring the year's most promising private technology ventures. In July 2010, CyberShift announced it had been named a Red Herring North America Top 100 award winner.

To compile the list of finalists, the Red Herring editorial team selected the most innovative companies from a pool of 1200 companies from across the world -- the Finalists from its Red Herring Asia, Europe and North America Awards. 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 important instrument for discovering and advocating the greatest business opportunities in the industry.

Robert E. Farina, CEO, CyberShift, said, "To be recognized as a finalist in the Red Herring 100 global program is an exceptional honor. 2010 was an award-winning year for CyberShift on many fronts and we're very appreciative of this acknowledgment that we are uniquely positioned to be a truly global leader in providing best-in-class workforce and expense management solutions."

"2010 was very difficult but extremely rewarding," said Alex Vieux, publisher and CEO of Red Herring. "Despite lingering effects of the global economic situation, there are many great companies producing truly innovative and amazing technologies, to the extent that we had a hard 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 Winners of the Top 100 Global Award.

Finalists for the 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 spaces such as mobile, security, Web 2.0, software, hardware, biotech, and clean tech sent in their submissions to qualify for the award.

The Finalists are invited to present their winning strategies at the Red Herring Global forum in Los Angeles, January 24-26, 2011. The Top 100 winners will be announced at a special awards ceremony on January 26 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.