Ultimate Software's UltiPro Through Intersourcing Boosts Bank's Recruitment Results and Auditing Efficiencies

Ultimate Software (Nasdaq:ULTI), a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, announced today that its customer Panhandle State Bank credits going "live” on UltiPro for significantly improving the Bank’s organization-wide recruiting efforts, expediting the time-consuming processes of preparing for banking audits, and enhancing service to employees. Panhandle State Bank had been using a payroll outsourcer that did not deliver the strategic functionality the Bank wanted to increase the efficiency and quality of its human resources and payroll operations. The company selected UltiPro for its recruitment-through-retirement feature set, and since implementing the Web-based, software-as-a-service version of UltiPro in January 2007, has automated its hiring processes to draw a larger, more qualified pool of candidates. "Since we started using UltiPro Recruitment, the number of applicants for open positions has increased substantially,” said Carole Smith, HR manager for Panhandle State Bank. "We have 21 branches in 3 states, and it can be very difficult to fill jobs, particularly in smaller towns. We recently needed a teller in a community where we may have had only one or two applicants in the past. Using the career portal, we had plenty of qualified applicants including responses from other geographic areas. Our local branch manager was thrilled because with UltiPro’s Web-based career portal, good candidates are finding us when previously they did not.” Using UltiPro’s Recruitment, Smith can pull reports she needs at any given time with "time-to-hire,” "cost-per-hire,” and "recruitment source” metrics. A comprehensive suite of standard reports is included, and they can be easily customized to accommodate unique business requirements. UltiPro Recruitment also includes ad hoc reporting tools for "on-the-fly” management reporting. "We’ve been "live” on Recruitment for only six months and are already experiencing significant benefits, and every month we experience more efficiencies,” said Smith. "The potential is immense.” Another challenge that banks must face is contending with stringent internal and external audits. Panhandle State Bank’s HR staff struggled with numerous audits each year that had to be handled on top of the team’s day-to-day responsibilities. Often the preparation process for the audits would entail days spent sorting through file cabinets and compiling data on spreadsheets. "The auditors love UltiPro, and so does my department, because it has streamlined the audit process,” said Smith. "Since UltiPro is easy to use, provides built-in audit trails, and has improved the overall precision of our data, we are better able to comply with internal and external information demands.” With UltiPro, Smith and her group now keep more detailed, current information on associates than they could previously, and they can also empower employees to update their own human resource, benefits, and payroll details online. Employees can update certain personal details and track accrued and used vacation and personal time. Using the UltiPro portal, Panhandle State Bank’s associates can even model their paychecks to calculate their net income or take-home pay based on different "what-if” payroll scenarios, should they wish to make changes to benefits or tax deductions. "When I step back and look at how far we have come with UltiPro, it’s incredible. We can provide better service to internal customers, and our HR team can operate more strategically,” said Smith. "We plan to leverage more of UltiPro’s functionality in the future for even more productivity gains.” "UltiPro provides end-to-end human resources, payroll, and talent management solutions so businesses like Panhandle State Bank have cost-effective access to a broad range of HR functionality in a single suite of products, with one number to call for answers to questions,” said Greg Swick, senior vice president of sales for Ultimate Software. "With UltiPro to automate the recruitment and applicant tracking process, better manage workforce data, and support its paperless initiative, Panhandle State Bank is well on its way to maximizing the efficiency of its human resources operations.” About Ultimate Software A leading provider of end-to-end strategic human resources, payroll, and talent management solutions, Ultimate Software markets its award-winning UltiPro products as on-demand services through its software-as-a-service offering, Intersourcing, and as licensed software. Based in Weston, FL, Ultimate Software employs more than 700 professionals who are focused on developing the highest quality products and services. Ultimate Software’s IT team won a first place award for its management of Intersourcing, from the American Business Awards in 2007, and its customer service team won two first-place awards for service excellence in 2006, one from the Service & Support Professionals Association and another from the American Business Awards. Ultimate Software was named a "Leader” in Forrester Research Inc.’s 2006 U.S. Midmarket HR solutions Wave ranking and ranked #3 on the 2006 and 2007 lists of the Best Medium-Sized Companies to Work For in America by the Great Place to Work Institute. Ultimate Software customers represent diverse industries and include such organizations as The Container Store, Elizabeth Arden, The Florida Marlins Baseball Team, The New York Yankees Baseball Team, Nintendo of America, Ruth’s Chris Steak House, and SkyWest Airlines. More information on Ultimate Software’s products and services can be found at 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.