St. Louis, MO – February 19, 2002 - TALX Corporation (NASDAQ: TALX) , a leading application service provider (ASP) of HR, benefits and payroll employee services, announced today that it received new contracts from two Fortune 500 companies for The Work Number ePayroll ServicesSM. When these two clients complete their rollout, their 300,000 employees will have web and phone access to their pay information. Both companies are current clients of TALX, contracting several employee services including The Work Number® employment and income verification service, W-2 eXpressSM complete W-2 services, and eChoice® benefits enrollment service.
These two new clients join American Greetings and others that have already contracted for ePayroll services. Mark Hopton, manager of corporate payroll services for American Greetings, said, “The driving force behind contracting for ePayroll services was simply cost savings and process improvements. Through a benchmarking study, it became very apparent that processing and distributing direct deposit notifications was labor intensive and expensive. The cost saving benefits far exceeded my expectations. Because we are able to save a substantial amount annually by using ePayroll, it was a simple decision.” “Many companies are realizing the substantial benefits of going to a paperless payroll process,” said Bill Canfield, president and CEO of TALX Corp. “It is extremely rewarding to expand relations with existing clients to help them meet their payroll goals. We believe this trend will continue, contributing a year-round revenue stream for TALX.” About The Work Number ePayroll Services 12.0pt">
The Work Number ePayroll Services include PayStub Review and Direct Deposit Maintenance. These services provide employees with self-service access to their pay information via the Internet or telephone, 24 hours a day/7 days a week. For clients that contract multiple services of The Work Number, a new single sign-on server is available to provide additional efficiencies. TALX maintains the highest level of security for all of the HR, benefits and payroll employee self-service solutions it operates. For more information about these services visit www.talx.com.
About The Work Number
The Work Number is America's leading employment and income verification service. The database has more than 60 million employee records under contract from 700 organizations nationwide. Over 35,000 mortgage bankers, lenders, Social Services agencies and other verifiers regularly use The Work Number each month to obtain highly accurate and complete information on applicants. The database is updated directly from the employers' payroll records every pay period. The Work Number is available via the Web at www.theworknumber.com.
TALX is a leading application service provider (ASP) of human resources, benefits, and payroll employee services. TALX services empower employees to complete transactions independently via the Internet, corporate portals, Intranets, and the telephone. Based in St. Louis, MO, TALX Corporation's common stock trades on the NASDAQ Stock Market® under the symbol TALX. For more information call 1-800-888-8277 or visit www.talx.com.
Statements in this press release expressing the expectations of management may be forward-looking and involve uncertainties. TALX risk factors are detailed in documents filed with the Securities and Exchange Commission.