Take5People to release SaaS Based T5Payroll Solution Targeting Small to Medium Size Businesses in China

A payroll solution provides greater accuracy, transparency and productivity to give better business insight for SMBs with customization capability

SHANGHAI – September 9, 2008 – Take5 People Limited, an application and solution provider focused on the fast-growing Asian market, today announced a new release of a T5Payroll solution based on Quantrix business modeling tool and Software as a Service (“SaaS”) model. In addition to monthly payroll calculation, it handles leaves management, overtime management and headcount analysis. With it’s easy to use customization capability, Human Resources professionals can accomplish their HR goals in a broad spectrum and provide management an accurate report with an in-depth analytical capability offered by Quantrix technical platform.

“T5Payroll is our first proprietary product offering based on Quantrix technology. Based on our previous 15 years of experience in the HRM and software market, we believe this solution well fits the requirements and needs of SMBs in China,” said Alsen Hsien, President of Take5 People Limited. “The labor cost consists of over 50% of operating cost for a small business and currently it is not properly addressed due to the lack of a payroll product targeting this market to provide accurate, auditable, analytic capability.”

Based on the well-established Quantrix Modeler technology, T5Payroll solution is designed to provide SMBs in China a greater accuracy, transparency, flexibility and productivity combined to give better business insight, which ultimately leads to better business decision. Today, SMBs in China have to operate efficiently and cost-effectively in order to sustain and survive under the keen competition. HR professionals are facing ever increasing demands for improving corporate efficiency and they are required to provide more sophisticated and analytical reports to management to make business decision and this is not only applied to large enterprises, but SMBs. T5Payroll covers a broad range of Human Resources related areas with customization capability to meet the requirements of each individual company.

In addition to T5Payroll software, Take5People also offers Payroll Outsourcing and Business Process Outsourcing services to its customers. Recently, SaaS is gaining adoption in various software segments worldwide, especially in China. According to a survey conducted by Forrester Research in Q3 & Q4, 2007, Human Capital Management Software is one of the second top areas that have high SaaS adoption, which shows the market potential in Payroll Outsourcing sector. With Payroll Outsourcing services, companies can leverage Take5 People’s solid expertise and free the internal resources to focus on core business.

“We are pleased to be the light house customer for T5Payroll. As a business owner, my focus is to develop new business and our staff. It is great how Quantrix has reduced the amount of time to review and verify the payroll and staff data each month. The reports are easy to read and follow even while away from the office,” said Charles Cabell IV, owner of mesa & manifesto, a modern Australian restaurant and bar in Shanghai. “The T5Payroll system is highly flexible and scalable which is very important, especially as the labor laws and staff needs change and we focus our efforts on staff retention and keeping ahead of the game. With T5Payroll’s auditability, I can focus and rely on the number presented and analyze my cost structure easily and without counting on my accountants to provide me vital information that usually takes a couple of days to prepare.”

About mesa & manifesto

mesa & manifesto are a restaurant and bar concept opened in 2003 in the French Concession area and located in an old renovated electronics factory. mesa restaurant is well established and serves amazing modern Australian cuisine in a chic, contemporary space. manifesto bar is located on the 2nd floor facing the tree-lined street and is famous for the creative cocktails and fabulous tapas. Part of the complex is also mix a private event space.

About Take5 People

Take5 People is a subsidiary of Take5 Software Limited, an application and solution provider focusing on the fast-growing Asian market, particularly the Greater China region. Incorporated in June 2006, Take5 People aggregates in-depth industry and market experience and knowledge of its executive management team with a strong track record in human resources, finance, technology and software market sectors. The company is focusing on developing software solutions based on the best-of-breed technology that meet the requirement of local markets. For more information about Take5 People, please visit www.take5people.com.