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Investor RelationsCompany Profile
WorkPlace Systems was founded in 1986 in Milton Keynes by Ian Lenagan and Tim Westaway to develop, sell and implement standard solutions in the newly-emerging markets for Workforce Management software. Selling via GEC Reliance initially, WorkPlace quickly became UK market-leader in Time and Attendance and Work Tracking selling to the Top 100 companies such as Heinz, Motorola, Plessey, BT, Marconi, Ferranti and London Underground.
Principles of operation included heavy investment in R&D (at least 40% of staff), a focus on building recurring revenue, complete self-financing with no loans, overdrafts or venture capital, good project management and continual product development into the latest technical architecture (4GL, Oracle, Java, .NET) to provide the right upgrade path for existing and new customers.
In the 16 years from 1986 to 2001 WorkPlace was profitable every year, growing both revenue and profit by at least 10% including international implementations in the US at Boeing, Detroit Edison, Department of Defence and Lockheed Martin, at Kuwait Airways, Bahrain Oil Company, Quatar Fertilizer, Papau New Guinea Telecom, Sea Lord New Zealand and others. Over this period, WorkPlace developed specialist staff scheduling and resource planning modules for the manufacturing, utility, telecom and rail markets and acquired Care Interactive Software in 1988 to extend into the retail scheduling market then Insight Logistics (2000) and Solus (2001) for continuous manufacturing and aviation workforce scheduling products respectively.
In August 2000, WorkPlace listed on the main market of the London Stock Exchange under the name TeleWork Systems plc to reflect the additional software company founded by Ian Lenagan in 1991 - TeleWare - which developed and sold computer telephony software products. With the decline in the telecoms sector in 2002/03 and in order to focus solely on the Workforce Management market, TeleWare was sold off to its management in 2003 and the public company name was changed to WorkPlace Systems International plc.
In September 2005, WorkPlace acquired Labour Systems International Inc (LSI), a US consultancy firm specialising in Retail Consultancy. The acquisition is an important element of the Board's objective of establishing a world-wide Workforce Management Consultancy business within the group.
WorkPlace Systems International plc is the public company listed on the London Stock Exchange in August 2000 (Ticker:WSI) and previously known as TeleWork Systems plc.
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