Last $8.55 USD
Change Today +0.05 / 0.59%
Volume 39.2K
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As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

saba software inc (SABA) Key Developments

Saba Software Hires Morgan Stanley To Evaluate Alternatives

Saba Software, Inc. (OTCPK:SABA) has appointed Morgan Stanley & Co. LLC to evaluate strategic alternatives. It is also in preliminary discussions with potential acquirers.

Saba Software, Inc. announced delayed 10-Q filing

On 12/10/2014, Saba Software, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Saba Announces Availability of Compensation@Work

Saba announced availability of Compensation@Work(TM), a predictive solution for simplifying and personalizing the increasingly complex employee salary and incentive pay process. The Saba solution, developed with a cross section of large and mid-size enterprise design partners, uses patent-pending predictive analytics algorithms to surface many otherwise hidden indicators, or "signals" of the value, engagement and cost of team members. Compensation@Work is: Simple, Yet Sophisticated: A comp plan-building wizard makes the very complex plan creation process super straightforward for administers at various levels of expertise. Built-in "What if?" budget creation tools, analytics and best-practice worksheets inform budget strategies. Smart and Proactive: Patent pending algorithms identify high risk/high value individuals and then provide concrete and personalised recommendations, comparing the real cost to retain vs. replace them. Having this data up front, makes it possible to be proactive and thoughtful about retention strategies. Salary and incentive recommendations can be compared at individual, departmental and company-wide cost levels. Flexible: User friendly worksheet configuration includes a built-in advanced rules and formulas builder. Compensation administrators can access and load external data from multiple sources for big data-based audience segmentation and worksheet configurations.

Saba Software, Inc. Completes Amendment to its Existing Credit Facility with Wells Fargo Bank

Saba Software, Inc. announced that it has completed an amendment to its existing credit facility with Wells Fargo Bank, National Association in order to borrow an additional $5 million from Wells Fargo under the credit facility. The company amended both the Wells Fargo credit facility and the loan agreement with Vector Trading (Cayman), LP (Vector) on September 23, 2014 in order to accommodate an additional $15 million of debt financing from Vector and an additional $5 million of funding from Wells Fargo. The current Wells Fargo amendment completes the last element of the previously reported financing. The $5 million of borrowing from Wells Fargo and the $15 million provided by Vector will be used to support general working capital needs as well as growth initiatives. The Wells Fargo Amendment modifies the amended and restated credit agreement, dated as of June 27, 2011, as previously amended, between Wells Fargo and certain material domestic subsidiaries of the company, primarily to increase the lending commitment of Wells Fargo from $40 million to $45 million.

Saba Announces Launch of Compensation@Work

Saba Software, Inc. announced Compensation@Work(TM), a predictive solution for simplifying and personalizing the increasingly complex employee salary and incentive pay process. The solution is being demonstrated this week at the HR Technology Conference in Las Vegas at Saba's booth, 2157. The Saba solution, developed with a cross section of large and mid-size enterprise design partners, uses machine learning to surface many otherwise hidden indicators, or "signals" of the value, engagement and cost of team members. More than half of employers report difficulty retaining high-potential employees and top performers according to a Towers Watson 2014 Global Talent Management and Rewards Study. One huge disconnect is the inefficient and ineffective method by which businesses attempt to reward their most valuable people. Typically, by the time annual merit increases get meted out, many of the best people in pivotal positions -- like actuaries in insurance businesses and data scientists in tech companies -- are in jeopardy of leaving. Compensation@Work, built with patent-pending machine-learning algorithms is a next generation reward management system which is: -- Simple, Yet Sophisticated: A comp plan-building wizard makes the very complex plan creation process super straightforward for administers at various levels of expertise. Built-in "What if?" budget creation tools, analytics and best-practice worksheets inform budget strategies. -- Smart: Patent pending algorithms identify high risk/high value individuals and then provide concrete and personalized recommendations, comparing the real cost to retain vs. replace them. Having this data up front, makes it possible to be proactive and thoughtful about retention strategies. Salary and incentive recommendations can be compared at individual, departmental and company-wide cost levels. -- Flexible: User friendly worksheet configuration includes a built-in advanced rules and formulas builder. Access external data, rules and formula from multiple sources for big data-based audience segmentation and worksheet configurations.

 

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