Time Spot Press Releases
Time Spot INTRODUCES IMPROVED
WEB-BASED TIME AND LABOR MANAGEMENT SOLUTION
NETtime Version 6 Adds Features That Improve Labor Management and Reduce Costs
Tempe, Ariz., November 30, 2004 ? Time Spot (OTCBB: TMAM) unveiled an enhanced version of its 100 percent web-based time and labor management solution, NETtime®, which will make it easier for companies to improve their labor management processes and decrease costs associated with employee time and attendance tracking.
Time Spot?s solutions provide accurate data for workforce decisions and enable companies to gain greater control over operational productivity. NETtime version 6 delivers improved user-friendly interface, more features and enhanced functionality, making the product stand out from similar competitive applications. A significant enhancement is the addition of 15 labor levels - the most in the labor management industry. NETtime v6 also provides automated emailing of over 50 management reports that can be sent to one or a group specified people in a variety of file formats including PDF, Word, Excel or CSV. This newly enhanced labor management product also provides greater flexibility for filtering departments and jobs; simplified standard and exception-level report generation; enhanced employee self-service features; and wizard-driven payroll closing. Furthermore NETtime version 6 has the ability to handle more complex payroll rules for overtime and union groups.
NETtime will export employee time and other human resource data to a company?s payroll, accounting or enterprise resource planning (ERP) system, providing a seamless labor management process. Supervisors can run reports against employee data to perform job costing, control departmental costs, monitor staffing, track benefit administration and much more. Its flexible design and use of proven distributed technology is critical to meeting the high volume and availability requirements of these environments.
?Organizations need the ability to harness information technology to provide a competitive advantage,? said Bahan Sadegh, Chief Technology Officer, Time Spot, Inc. ?Our vision for time and labor management utilizes standard-based web architecture on a Microsoft software foundation. This vision, along with uniquely designed labor management software, enables corporations to react faster to make more informed decisions, changing market needs and focus on their core business, rather than technology.?
Mr. Sadegh added that Time Spot?s combination of standard platforms, best of breed tools and unique design, combined with well-thought-out enterprise technology and architecture, allows corporate IT staffs to not worry about such terms as ?obsolescence? and ?legacy.?
Over 20,000 companies use Time Spot?s innovative time and workforce solutions, several thousand of which are in the manufacturing sector. These clients use a variety of time entry options including web-based time sheet submittal, biometric HandPunch devices or more traditional badge terminals in conjunction with Time Spot?s labor management solutions.
NETtime is a 100 percent web-based automated solution to collect, track and analyze employee time and human resource data. NETtime is scalable for small, medium and enterprise sized businesses. Accessible from any computer with Internet access, NETtime provides powerful tools designed to help companies know exactly where their workforce time and dollars are spent and drastically reduces the time spent calculating and entering employee time. It allows employees to enter time through a web browser, phone, time clock or any WAP-enabled device.
NETtime v. 6 will be available in both licensed and hosted models from Time Spot in December 2004.
About Time Spot, Inc.
Time Spot, Inc. (OTCBB: TMAM) is a leading provider of web-based, client-server and desktop time and labor management solutions. With over 17 years of experience, Time Spot?s family web-based, client/server and PC-based solutions deliver a cost-effective, automated means for employee time and attendance tracking, management of labor resources and payroll processing. The Deloitte Technology Fast 500 has honored Time Spot as one of the 500 fastest growing technology companies in North America consecutively for 2003 and 2004.
NETtime is a registered trademark of Time Spot, Inc. All other names are the property of their respective owners.
Forward Looking Statements
Certain information and comments contained in this press release may be forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Factors set forth in the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004, and subsequently filed form 10-QSB?s, together with other factors that appear in this press release or in the Company's other Securities and Exchange Commission filings could affect the Company's actual results and could cause the Company's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of the Company, in this press release.
Note: For a complete list of the Deloitte Technology Fast 500 winners for 2004 (and past years), visit www.fast500.com.
For Time Spot, Inc.:
Kristen Massaro / Yin Chang
Time Spot, Inc. KCSA Public Relations
(212) 896-1225/ (212) 896-1228