CyberShift Evolves Its Executive Team: Stephen Tafaro to Drive Further Expansion Through Strategic Partnerships

PARSIPPANY, NJ--(Marketwire - April 20, 2009) - CyberShift, a global provider of workforce management and expense management software and services, today announced that Stephen Tafaro has been appointed to the newly created position of Vice President of Channel Development. In his new role, Tafaro will direct CyberShift's partner channel development activities to support its corporate growth strategy and drive further adoption of CyberShift's Workforce Management and Expense Management product suite within mid- to large-size complex organizations.

For the past four years, Tafaro has served as CyberShift's Vice President of Sales, leading the company's direct sales efforts. During Tafaro's tenure, CyberShift has enjoyed compound growth rates of close to 40% per year. As Vice President of Channel Development, Tafaro will focus on the creation of partner-related sales strategies that expand and deepen CyberShift's relationships with other complementary vendors to maximize the value CyberShift delivers to the market and to achieve long-term growth objectives.

"Steve is a proven leader with more than 30 years of sales and executive management experience in the enterprise software, e-commerce, telecommunications and consumer products. He understands the business drivers that make partnerships successful from both sides of the table, and has extensive P&L and sales experience," said Robert E. Farina, CEO, CyberShift. "I have every confidence that Steve will be able to leverage the resources at his disposal in this new position to build an elite team of partnerships whose hallmarks are client success, close working relationships and commitments to mutual positive outcomes. I am very pleased that he has accepted this new challenge."

Immediately prior to joining CyberShift, Tafaro was the Executive Vice President of Sales for Financial Technologies, Inc., the leading provider of portfolio management and partnership accounting software for the private equity industry. He has held executive positions with IBM and Oracle, as well as serving as the president of Bell Atlantic Software Systems. Tafaro has extensive experience as a member of the executive team of entrepreneurial, rapid growth businesses.

"CyberShift's Enterprise Software-as-a-Service platform, together with the option of on premise licensing options, offers a compelling strategy for unlocking the value of its Workforce and Expense management solutions, and that lends itself to exciting partnership opportunities," said Tafaro. "I am delighted to move to this pivotal role that enables CyberShift to broaden its leadership position in these markets."

About CyberShift

CyberShift, Inc. is a leading provider of workforce management and expense management software and services focused on helping mid-sized to large, complex organizations improve organizational performance and profitability. Through its integrated Workforce Management 3G™ suite, which includes time and attendance, advanced scheduling, absence management and workforce analytics, companies can more effectively plan, manage and deploy their workforces, reduce costs and improve processes across business operations. CyberShift's Necho Expense™ automates the processing and management of employee business expenses and helps companies improve compliance, enforce expense policies and procedures and increase visibility into operations. Offered as either Software-as-a-Service (SaaS) or traditional license fee delivery models, CyberShift's innovative solutions have been awarded U.S. and Canadian patents. More information can be accessed at www.CyberShift.com.