Authoria’s Strong Performance Exceeds Post-Acquisition Milestones

Authoria, Inc., a leader in strategic Human Capital Management (HCM) solutions, today released a progress report on its business since the acquisition of Advanced Information Management, Inc. (AIM).  The acquisition of AIM was announced in May 2004 and completed in mid-June.  During the past 60 days, Authoria has exceeded its operating plan, including revenue forecasts; integrated the AIM and Authoria teams; released three new products, and acquired numerous new customers.

“Merger and acquisition activity can always be disruptive for a company, however our acquisition of AIM quickly added value,” said Tod Loofbourrow, Authoria’s chief executive officer.  “We benefited particularly from the effective integration of the AIM and Authoria teams, from senior management through engineering, allowing us to successfully execute against our goals.  Due to this, we have been able to reach all key milestones, exceeding our revenue goals and launching new products on schedule.”

Loofbourrow continued, “With a focused integration team and through use of our Authoria Employee Advisor solution internally, we were able to quickly and successfully combine the two companies. We also plan to use our new products to help further support our own pay-for-performance culture.”

Leading Organizations Choose Authoria
During the 60-day period following the AIM acquisition, Authoria closed thirteen new deals. Included among the new customers were:

• Briggs & Stratton
• Carlson Companies
• Minnesota Department of Employee Relations
• New York University
• PepsiAmericas

Authoria experienced broad demand across the entirety of its product lines, including strong interest in the new solutions from existing customers.

”The integration of Authoria and AIM’s products is key to enabling pay-for-performance functionality,” commented Amy Wolk, manager, Human Resources Service Center, Boston Scientific, an existing Authoria customer. “This powerful combination helps managers align employee and corporate needs.  Meanwhile, the HR team can focus less on the transactional aspects of human resources and more on supporting our organizations with strategic counsel.”

New Integrated Products
Authoria also released new products, including Performance Advisor™ version 7, Compensation Advisor™ version 7, and a new version of Manager Advisor™.  Performance Advisor allows companies to systematically identify, develop and reward their top employees while Compensation Advisor helps attract and retain key talent through implementation of a comprehensive compensation strategy.  When combined with Manager Advisor and Employee Advisor™, Authoria’s new suite of solutions helps companies effectively address their strategic pay-for-performance initiatives, improving productivity and driving bottom line results. 

Some of the new features in Performance Advisor include formal performance plans, expanded competency levels, organization goal setting and alignment, and expanded individual objectives setting.  Compensation Advisor includes new features such as financial data import and validation, deferral calculations, and standard bonus and stock export utilities. The solutions represent the first new releases of the former AIM products following the acquisition.

A wide range of Authoria customers have quickly adopted Manager Advisor (introduced in March 2004), which brings together all the information managers require to be effective corporate resources.  In addition to maximizing corporate and employee productivity to drive business value, Manager Advisor can help managers do their jobs better and monitor corporate policy compliance.  The latest version of Manager Advisor contains 18 new manager events, including managing harassment and discrimination complaints, workplace violence, worker’s compensation claims, flexible work schedules, company vision, workforce diversity, and more.

About Authoria
Authoria’s strategic Human Capital Management (HCM) solutions help employers support enterprise-wide pay-for-performance initiatives and reach their high-level business objectives through their people. Authoria combines compensation and performance management with just-in-time knowledge and coaching for employees and managers, driving shareholder value at over 200 leading organizations, including Boeing, Pfizer, and Unocal. Authoria provides a strategic approach to effective communication, empowering employees to better understand and use benefit, policy and total compensation information. Visit www.authoria.com/news18

Note to editors: Authoria is a registered trademark and the Authoria logo and Authoria Advisor Series are trademarks of Authoria, Inc. in the U.S. and in other countries. All other names are used for identification purposes only and may be trademarks of their respective owners.  The software is protected by U.S. Patent Nos. 6,505,183, 6,633,859, 6,640,216 and other patents pending.