Algorithmics Selects Journyx Timesheet to Manage Workforce & Optimize Project Costing

    AUSTIN, Texas, Sept. 5, 2002 -- Journyx(R), the leader in web-based workforce time and expense solutions, announced today that Algorithmics, a world leader in enterprise risk management solutions, has selected Journyx Timesheet(tm) to automate the organization's time and expense reporting and streamline project management activities.
    The Journyx solution has already been implemented by Algorithmics and is being used to track project time and costs in its Global Professional Services and Research departments. Upcoming phases of the agreement allow Algorithmics to expand Journyx Timesheet to its entire Software Development team, as well as, implement expense tracking across the organization. The Toronto-based company, ranked #8 on the Braham Group's list of the Top 100 Independent Canadian Software Companies for 2001, carefully evaluated a number of workforce management vendors before making the decision to go with Journyx.
    "We evaluated over 25 vendors before choosing Journyx Timesheet because of its usability, global scalability and overall value," said John Chirico, Business Analyst at Algorithmics. "Journyx is enabling us to track our resource allocation and project costs in real time, helping us make more informed management decisions and reduce project risk."
    "We are proud to be working with Algorithmics in automating their time and expense tracking and improving their project costing processes," said Curt Finch, Founder and CEO of Journyx. "Our goal is to assist them in substantially reducing the costs associated with these activities and, ultimately, to lead them to greater profitability through improved resource utilization."

    About Algorithmics

    Algorithmics was founded in 1989 in response to the complex issues surrounding financial risk management for the enterprise. Today, as a leading provider with one of the largest and most experienced teams in the industry, Algorithmics continues to focus its efforts on creating and implementing enterprise risk management software that meets the evolving needs of its customers. Continuing its tradition of leading the way in risk measurement and management tools and processes, Algorithmics introduced Mark-To-Future(tm) (MtF)(tm), a new risk-reward management framework, which won Risk magazine's Technology Development of the Year award for 2001. Headquartered in Toronto, with 15 offices around the world, Algorithmics serves more than 140 global clients in 26 countries.

    About Journyx Timesheet

    Journyx Timesheet is a timesheet and expense management solution for the entire enterprise. Organizations can easily manage employee timesheets and expenses for project control, customer invoicing, and payroll automation with Journyx Timesheet. They can also easily integrate Timesheet into their existing systems, leveraging its open architecture and support for standards like XML and SOAP.

    About Journyx

    Journyx is fundamentally transforming how people do their daily jobs by automating labor-intensive, paper-based processes with a superior, web-based solution. Founded in 1996, Journyx provides web-based workforce management software and services. Journyx has more than 10,000 organizations in 66 countries worldwide -- representing over 1,000,000 employees -- using its software, including IBM, American Airlines, GE, and Schlumberger. Journyx solutions are available both on an ASP and a standard license basis. For more information, go to


    CONTACT: Journyx, Austin
             Kevin Tap, 512/834-8888

    SOURCE: Journyx
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