TALX successfully executes on its cross sell strategy to offer more TALX services to existing clients
ST. LOUIS, Apr 21, 2003 (BUSINESS WIRE) -- TALX Corporation (Nasdaq:TALX), a leading business process
outsourcer (BPO) of human resources and payroll services, announced
today that during its fiscal year ended March 31, 2003, more than 300
clients contracted for additional complementary TALX services
amounting to approximately $9 million in annualized revenue. These new
service additions were spread across the complete line of TALX
services with clients choosing additional services from each major
service area offered by TALX.
"We are delighted to see so many of our clients take advantage of
additional TALX services to help them reach their goals to reduce
operating costs," commented Bill Canfield, president and CEO of TALX.
"All of our services are centered on employers' payroll and human
resources data. By turning to TALX for several of these services,
clients can realize significant cost savings within their HR and
payroll departments while limiting the complications of multiple
vendor relationships. Plus, clients quickly see the value of each
individual TALX service as they build their relationship with us."
While many clients signed up for the market-leading services that
TALX is most know for - The Work Number(R) automated employment and
income verification services and UC eXpress(SM) unemployment cost
management services, TALX also obtained new contracts in Employer Tax
Services as well as its paperless payroll services, which includes
electronic payroll, W-2 services and FasTime(R) electronic time
"One of the main strategies for our acquisitions was to offer
clients, already under contract for one of our services, additional
services that would result in even more value for our clients,"
continued Canfield. "Over the last 12 months, these cross-selling
efforts yielded approximately $9 million in additional revenue,
exceeding our $8 million target."
TALX services are categorized as business process outsourcing, and
the human resources/payroll outsourcing segment is the fastest growing
BPO segment. According to Dataquest, a division of Gartner, the U.S.
human resources outsourcing market is expected to grow into a $ 58.5
billion industry by 2005, up from $21.7 billion in 2000.
TALX Corporation is a leading business process outsourcer of human
resources and payroll services. TALX holds a leadership position in
two key employment-related services - automated employment and income
verification services via The Work Number(R) services, and
unemployment cost management services via UC eXpress(SM). TALX also
provides paperless payroll services, W-2 services, automated benefits
enrollment and automated time entry services. Based in St. Louis,
Missouri, TALX empowers uses to complete transactions independently
using available multimedia including Web, interactive voice response,
speech recognition, fax and e-mail. TALX Corporation common stock
trades on the NASDAQ Stock Market under the symbol TALX. For more
information about TALX Corporation, call 314-214-7000 or visit the
company's Web site at 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
TALX Corporation, St. Louis
Laura Browder, 314/214-7224