SOURCE: SilkRoad technology, inc.

SilkRoad Technology, Inc.

January 22, 2013 09:00 ET

SilkRoad Announces Record Growth in Q4 2012

Momentum Fueled by Customer Acquisitions, Strategic Partnerships, Product Innovation and Industry Recognition

CHICAGO, IL--(Marketwire - Jan 22, 2013) - SilkRoad, a leading global provider of cloud-based social talent management software, announced today that it experienced worldwide growth in the fourth quarter as a result of new customer acquisitions, significant strategic partnerships and product innovation. SilkRoad acquired 185 new customers globally, representing a 44 percent growth rate over the fourth quarter of 2011. In the U.S., this included Guitar Center, Cobb Electric Membership Corp, and Graebel Companies. The Company also announced a 32 percent increase in annual bookings over 2011.

"As the leading pure-play talent management provider, we are dedicated to providing the most innovative and comprehensive talent management technology that's available anywhere," said Flip Filipowski, CEO of SilkRoad. "To that end, we expanded partnerships and updated products in Q4 to offer more functionality for businesses and employees alike. The record number of clients who chose SilkRoad's Life Suite® HR software this quarter is a clear indication of our success."

Highlights from the Quarter:

Customer Acquisitions -- In addition to setting a record for client acquisitions worldwide in the fourth quarter, SilkRoad broadened its footprint across the Asia-Pacific-Japan (APJ) region, adding a significant number of new clients from China in the North to New Zealand in the South. Moore Stephens LLP Singapore and Aussie Home Loans joined the list of enterprises that turned to SilkRoad's pioneering talent management solutions this quarter. 

Strategic Partnerships -- During the fourth quarter, SilkRoad teamed up with KnowledgeAdvisors to integrate the Company's GreenLight® learning management system with KnowledgeAdvisors' Metrics that Matter® analytics platform. The partnership enables customers to leverage big data to improve the impact of learning on business performance. Additionally, SilkRoad partnered with Medcom Trainex, a producer and distributor of multimedia healthcare education solutions. The new partnership gives SilkRoad's GreenLight customers access to over 1,000 Medcom courses that address healthcare compliance training and meet nursing and physician continuing education requirements. 

Product Innovation -- The fourth quarter also brought a new release of RedCarpet®, the world's #1 employee onboarding solution. The release includes enhancements that make it even easier to use. Additionally, SilkRoad released GreenLight in Japanese and has integrated it with its Wingspan® performance management software. The integration enables companies in Japan to offer a single collaborative learning and development program to a global employee base.

Industry Recognition -- Also in the fourth quarter, SilkRoad's Point® social collaboration software was named a bronze winner for Best New Product of the Year by the U.S. Best in Biz Awards. The company's Point integration with GreenLight was also named a silver winner for Best Advance in Learning Management Technology by Brandon Hall. Additionally, Josh Bersin recognized SilkRoad as a "fast-grower" in his Talent Management Systems Solution Provider Comparisons and Profiles 2013 report. And in China, SilkRoad was recognized as the "Most Promising HR Service Provider of the Year" by the China Staff Awards, an influential recognition in China's HR community. SilkRoad is the only talent management provider that has been awarded this honor in the China market. 

Customer Comments:

Existing Life Suite customer Graebel Companies added SilkRoad's HeartBeat® HRIS solution to their suite this quarter. Director of Talent Management Cathy Smith said, "SilkRoad's HeartBeat offering is one of the most comprehensive on the market. HeartBeat's integration with SilkRoad's other solutions, including social collaboration and mobile aspects, were not only innovative, but incomparable. We're looking forward to reaping the benefits of SilkRoad's entire Life Suite." 

After the successful implementation of WingSpan this quarter, existing Life Suite customer Karen Boyte, GMHR of TrustPower in New Zealand, said, "As we continue to grow our business, SilkRoad has helped streamline HR processes and reduce paper waste. With WingSpan, we have achieved much deeper functionality around goals and development planning for employee performance management."

About SilkRoad

SilkRoad is a leading global provider of cloud-based social talent management software. Their passion for creating the finest employee experience drives everything they do. The award-winning SilkRoad Life Suite is an integrated set of employer-branded TM/HCM solutions that power businesses with the latest Web 2.0 and social media innovations: OpenHire for recruiting, RedCarpet® for onboarding and life events, WingSpan for performance management, GreenLight for learning management, Point and Eprise for Social Collaboration and Content, and HeartBeat for trusted HRMS. The Life Suite is ideally suited for businesses of every size because of its unique and open "start anywhere" architecture -- implement the complete suite or begin with one solution and add functionality as you need it. Either way, it's the fastest path to develop more productive and empowered employees who can rapidly boost business performance. Visit, follow them on Twitter @SilkRoadTweets or call 866-329-3363 (U.S. toll free) or +1-336-201-5100.

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