02/23/2010

NETtime Solutions Announces Profitable 2009 Fiscal Year


NETtime Solutions Records Profitable 2009 Fiscal Year on 43% Increase in Revenues

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--NETtime Solutions, developer of software as a service (SaaS) time and attendance solution, NETtime™, announced Thursday a 43% increase in revenue from operations over 2008 figures, despite the recessionary economy of 2009. Users of NETtime increased 54% with the addition of clients like ASU, Benjamin Moore Paints and Schumacher Group.

U.S. personnel increased 25% over 2008 staffing levels. The increases included additional support staff to ensure the availability of live U.S.-based representatives who respond to client calls for help in an average response time of less than a minute, with less than 0.5% of calls rolling to voicemail. Clients experienced 99.99% uptime of their NETtime time and attendance solution.

When asked about the results, founder and CEO Bahan Sadegh said, “We are ecstatic about our performance and that we have successfully transformed ourselves from a software company to a service company. I am very proud of what we have built here and look forward to another prosperous year.”

About NETtime Solutions

NETtime Solutions delivers on-demand time and attendance recording and reporting as a monthly subscription SaaS solution. Their flagship product, NETtime™, is a 100% web-based, cross platform, cross browser solution that is utilized by companies of all sizes. Their service helps companies maintain compliance with local, state and federal labor laws while eliminating the costs associated with manual payroll processing and maintaining an on-site time and attendance solution