Spectrum and EASi Announce Joint Initiative to Meet Equity Compensation Reporting Needs - 2010 May 26

http://bit.ly/9NeCJk

Spectrum
Human Resource Systems Corp. (Spectrum) headquartered in Denver, Colo., and Equity
Administration Solutions, Inc. (EASi), headquartered in Pleasanton, Calif.,
announce the formation of a cooperative marketing agreement. Under the terms of
the agreement, Spectrum will offer EASi’s equity administration product, EMS™,
for use in conjunction with Spectrum’s iVantage® human resource management
system (HRMS).



In announcing the relationship between the companies, Jim Spoor, chairman and
founder of Spectrum, states, “Our relationship with EASi provides a valuable
and increasingly essential capability in support of Spectrum’s longstanding
tradition and reputation for enabling our clients to achieve excellence and
best practices in all areas of HR.”



“As both public and private companies face the heightened demands for full
disclosure of direct and indirect compensation, including the value of equity
based compensation components, the challenges go far beyond the traditional
basic administration of stock incentive plans,” continues Spoor. “CEOs, CFOs,
and senior HR executives clearly understand the challenges and the magnitude of
risk they face if they rely on spreadsheets or simplistic approaches in their
efforts to comply with the increasingly complex requirements of SEC reporting,
FASB compliance, Sarbanes-Oxley, and the specific requirements of SFAS 123R.”



Vito Palmieri, CEO of EASi says, “We are very excited about the partnership
with Spectrum as it expands our opportunities in the marketplace with a great
HRMS. Our goal in creating our product, EMS, was to set the industry standard
by providing an equity management product that combined full FAS 123R financial
reporting with traditional record keeping functionality. As an independent software
company, we have focused on delivering a total equity management solution that
requires only a web browser to access."



Corporations are seeking better solutions as the reportable value of
compensation, attributable to equity based plans and other stock based plans,
becomes a more substantial component of executive and key employee
compensation. This includes incentive stock options (ISOs), non-qualified stock
options (NQSOs), restricted stock grants and awards (RSGs/RSAs), and stock
appreciation rights (SARs).



In response to this need, Spectrum selected EASi and its EMS product based on
the advanced features, in-depth recording and reporting capabilities, and
domain expertise of EASi’s team. EASi’s solution is highly secure and enables
not only plan administrators, but also authorized brokers, transfer agents,
outsourced plan administrators and employees access to information.



"Current stock plan administration demands tight integration of financial
reporting and record keeping," states Palmieri. "EASi's EMS meets
those demands with a stable and scalable system that, from the ground up,
guarantees the integrity of historical data and time-sensitive audit tracking.
For example, EMS provides 175 FAS reports, real-time reporting with GAAP
compliant expensing. We support multiple award types, including options, RSU,
RSA and performance awards."



“EASi is positioned to achieve dominance in the equity administration sector
with its highly effective software as a hosted service offering,” says Spoor.
“They truly understand this highly specialized function and deliver what is
needed to meet the rapidly changing needs that corporations and equity plan
administrators face.”



“While equity administration has historically been handled as a niche activity
by the legal or treasury function with little HR involvement, that is no longer
realistic or wise,” says Spoor. “Although equity based plans may continue to be
administered outside of HR, the grants, administration, reporting and analysis
must be collaboratively integrated with other on-going HR information and
activities. Together, Spectrum and EASi provide the combined solution that is
needed today.”



About EASi (Equity Administration Solutions, Inc.)



Founded in 2002, EASi has focused exclusively on building one product to set
the standard for financial reporting and equity management. The result is the
Equity Management System (EMS™) — FAS 123R compliant, broker independent,
scalable, fully auditable software. With over fifty current customers, EASi is
rapidly becoming the new standard in equity management solutions. Headquartere
2eb9 d in Pleasanton, Calif., EASi can be reached at 800-921-3274.



About Spectrum Human Resource Systems Corp.



Spectrum, founded in 1984, is a leading provider of high functionality web and
desktop-based HR and workforce management software. As a full system and
service provider, Spectrum delivers the full range of product related services,
including system planning, implementation, training, system customization, data
conversion and system consulting. Spectrum, headquartered in Denver, Colo., can
be reached at 800-477-3287.



Press Contact:



Jamie Glennon



Communications Specialist



Spectrum Human Resource Systems Corp.



303-592-3435



This press release was distributed through eMediawire by Human Resources
Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed
above.







Author Information



Jamie Glennon

Spectrum Human Resource Systems Corp.