StepStone teams up with Philips to deploy integrated Performance and Talent management system

 
TIDMSTPS 
 
StepStone teams up with Philips to deploy integrated Performance and Talent 
management system 
 
StepStone ASA 
 
3 June 2009 
 
StepStone, a leading provider of Human Capital Management solutions, has 
announced that Philips is to implement its new ETWeb talent and performance 
management platform.  ETWeb will help Philips retain its world class workforce 
and plan for future success. Once completed, StepStone's solution will cover 
around 45,000 Philips employees across more than 60 countries. 
 
StepStone's platform will support Philips in better planning, managing and 
evaluating employees' performance and development. The solution will also 
integrate a talent management module, enabling the health and well being 
multinational to better manage and track its internal talent, whilst also 
identifying and developing future leaders. 
 
In the Q1 2009 quarterly results, StepStone stated that "The important monthly 
recurring revenue from Solutions' customers has increased 30% between Q1 2008 
and Q1 2009, driven by a combination of the growing customer base and minimal 
churn in the monthly subscriptions. Recurring revenue growth is significantly 
outpacing growth from licence fees and professional services." 
 
This contract with Philips will further increase that recurring revenue base. 
 
Jef Pauwels, Vice President for Learning and Organizational Effectiveness at 
Philips, said: "We are pleased to have selected StepStone as a partner for our 
key people management processes. StepStone is providing us with a world-class IT 
solution and they have been extremely professional throughout the 
implementation." 
 
Colin Tenwick, CEO of StepStone, added, "Our talent management solution has met 
Philips's global requirements and is aligned to the company's people, processes 
and business goals. Through close co-operation, we've helped Philips manage and 
track its talent and support its aim to be a leader in the health and well being 
industry." 
 
StepStone's ETWeb talent management platform provides a full range of strategic 
human capital management capabilities within a software as a service (SaaS) 
environment, including performance management, succession planning, compensation 
management and 360 degree feedback. The solution enables organisations to retain 
and develop staff, improve the ratio of internal promotions to internal hires, 
and drive succession planning by finding succession options for senior level 
positions. At the same time, ETWeb places employees in the driving seat of their 
own careers.  Harnessing ETWeb's self-service features, staff are able to feed 
back to their line managers and HR officers on their skills and career 
objectives, whilst gaining accurate, up-to-date information on the progress they 
make against their development objectives. 
 
Enquiries: Ian Clapp, 
Director of Investor Relations 
Tel: [phone]