NEW YORK, NY, April 5, 2004 – nextSource Inc. – a wholly owned subsidiary of Formula Systems (1985) LTD (NASDAQ: FORTY), and a leading provider of human capital management solutions – today announced the release of Version 2 of The People Ticker a real-time rate and salary compensation tool.
NEW YORK, NY, April 5, 2004 – nextSource Inc. – a wholly owned subsidiary of Formula Systems (1985) LTD (NASDAQ: FORTY), and a leading provider of human capital management solutions – today announced the release of Version 2 of The People Ticker a real-time rate and salary compensation tool.
The People Ticker is a dynamic interactive database in which users search current market contingent labor bill rate and full time employee salary data specific to a worker's experience, work location, and skill-set. As part of The People Ticker, a "streaming" functionality is available for a users desktop that constantly updates all the rates and salaries for job descriptions created by the user.
"We are very excited to unveil this new version of The People Ticker to rave reviews from our existing clients," says Joseph Musacchio, CEO of nextSource. "By incorporating the latest in search technology, we are able to offer customers a product that is not only easy to use but one that offers the most comprehensive matching functionality on the market today."
Utilizing leading-edge search technology used by various United States defense and intelligence agencies, electronic discovery companies, enterprise search firms, law firms and major HR and recruiting firms, The People Ticker now offers users more accurate results. No longer limited to pre-defined skill sets and standardized job descriptions, users may now enter any job description they wish. The data records in the results represent current market data points that have been gathered and analyzed from multiple contingent assignments, agencies providing full time and contingent labor, and employers engaging full time and contingent labor.
For more information on The People Ticker, please check out www.nextsource.com or email your inquiry to info@nextsource.com.
About nextSource
nextSource, headquartered in New York City is a subsidiary of Formula Systems LTD. The company designs, develops and implements web-based, high quality, innovative Human Capital Management Solutions. These offerings allow customers to manage the business processes of job posting and fulfillment, vendor selection, evaluation, and management; accrual of spend; MWDVBE compliance; skill set and market-rate benchmarking. An Oracle and Microsoft Certified Partner, nextSource has patents pending on both its Talent Acquisition Management Solution (TAMS) and The People Ticker.
Founded in 1985, Formula Systems (1985) LTD (NASDAQ: FORTY) is an international Information Technology company, principally engaged through its subsidiaries and affiliates, in providing proprietary software products, computer based solutions and software consulting services.
Contact Information:
Ed Remus eremus@nextsource.com 212.736.5870
Kate Rudgers krudgers@nextsource.com 212.736.5870
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.
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