NuView Systems Acquires Cort Payroll Software, Strengthening Its HR Management Platform

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Comprehensive Payroll Capabilities Available as Both a Hosted or Licensed Application

Wilmington, MA – October 2, 2007 – In a direct response to the growing trend of shifting human resource (HR) and payroll functions from disjointed point solutions to a fully integrated application, NuView Systems – developer of the award winning NuViewHR® product suite – today announced that is has completed the acquisition of Cort Software, a leading provider of enterprise payroll systems and developer of Cort HCM and Cort 1099R. Having payroll and human capital management (HCM) functions integrated in a singular platform enables organizations to combine critical enterprise data from both source systems which improves data integrity, consolidates and enhances reporting capabilities and reduces costs. As a result of the acquisition, NuView will gain a new office on the West Coast and will increase its customer roster to over three hundred clients. Madison Park Group acted as NuView’s financial advisor in this transaction and financial terms of the acquisition were not disclosed.

“The acquisition of Cort Software and its user-configurable payroll solutions adds a critical component to NuViewHR’s highly modular product suite,” said Shafiq Lokhandwala, CEO of NuView Systems, Inc.

“By integrating Cort’s proven payroll processing solution with NuView’s strategic HR platform, clients of both companies will benefit by having a single vendor manage their entire HCM software needs. This acquisition clearly demonstrates our continued efforts to support the evolution of HR from a cost center to a key component of a company’s ongoing success, and its recognition as a contributor to the corporate bottom-line.”

With Cort’s payroll software as a part of the NuViewHR product suite, organizations now have the capacity to tightly integrate critical enterprise data from both HR and payroll. This collaboration of business intelligence reflects the changing dynamics of the human resources discipline. By combining the two functions across the enterprise, HR executives will have more exposure under the corporate umbrella and C-level executives will have better control and more accurate reporting of the organization’s two highest corporate expenses: salary and benefits.

“Organizations now recognize the need to put critical employee information in one centralized location and move away from multiple applications if they want to streamline their operations and treat their HR departments as strategic information sources,” said Joseph Pickler, Vice President of Business Development, NuView Systems, Inc. “This acquisition is important as it helps organizations create consolidated HR views of their employees in order to better align costs with over-all work performance.”

About NuView Systems, Inc

NuView Systems provides an award-winning Human Resource Management System (HRMS) to global companies who have a strategic HR vision, and who view technology as the method to carry out that vision. Founded in 1994, NuViewHR® leverages technology to manage people, process & strategy across the enterprise. A web-native human resource platform, NuViewHR® empowers organizations to improve strategic business processes, create efficient workflows, and adhere to compliance reporting. NuView’s complete product suite allows organizations to integrate all of the major HR components via a secure, role-based platform that easily distributes relevant information to Managers and Staff via personalized Employee Self-Service portals. Unlike other HR offerings, NuView offers a proven set of modular solutions, including HR & Benefits Administration, Compensation Management, Recruiting Management, Candidate Self-Service, Training Administration, Performance Management, Succession Management, Employee Self-Service, Manager Self-Service, Metrics, Reporting, Time Entry and Payroll. This enables organizations to meet their immediate needs and deliver rapid returns on investment, then ramp up the strategic modules and grow the solution across their world-wide locations. For more information, visit www.nuviewHR.com or call (978) 988-7884.

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1 COMMENT

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