SilkRoad Technology, Inc., a provider of talent management solutions, announced today the third quarter for 2010 marked its 29th consecutive period of sales growth.
Although the Winston-Salem-based developer of talent management and human resources software is privately held and does not disclose specific revenue or profit figures, it chose to spotlight some key growth initiatives from the third quarter in a public announcement.
Adding new clients was a crucial driver of growth in Q3 for SilkRoad, according to a press release. SilkRoad experienced a record number of new clients and of clients purchasing its core HR solution, HeartBeat, this quarter. Some of the new HeartBeat clients include: York Risk Services Group, Imperva, Marin Software, McNichols Company, and Primatics Financial.
SilkRoad continued to make inroads in the healthcare market with talent management solutions. The company signed several new clients for multiple Life Suite solutions including: Memorial Sloan-Kettering Cancer Center, Scripps Health, WellSpan Health, and Harden Healthcare.
SilkRoad also sponsored an Aberdeen Group study this quarter, looking at how organizations take the administrative nightmare out of managing benefits, scheduling, payroll, compliance, and other functions of core HR. The report found that top performing companies in Core HR lowered error rate in payroll processing to just 0.5% and reduced manual transactions by 7% year-over-year.
The Future of Core HR: Building the Business Case for Automation and Integration report concluded that automation, integration, and employee self-service are the keys to a more efficient HR practice.
“Once again, our employees’ efforts prove we have the best team in the software industry,” said Andrew J. “Flip” Filipowski, Executive Chairman and CEO of SilkRoad technology. “With their dedication and hard work, we continue to grow, sign new clients and develop the best available software in talent management.”