Market Overview

Ultimate Software Leads Nucleus Research HCM Technology Value Matrix for Sixth Consecutive Year

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Ultimate Software earns the top rating for product functionality

Ultimate Software (NASDAQ:ULTI), a leading provider of human capital
management (HCM) solutions in the cloud, announced today that it is a
Leader in the Nucleus Research HCM Technology Value Matrix 2018 for the
sixth consecutive year, based on Nucleus' evaluation criteria of product
functionality and usability. Ultimate earned the top vendor rating for
product functionality, and is one of the top two vendors for usability.

Nucleus Research is a respected, independent technology research firm
focused on helping clients build the financially-focused business case
for technology. The Nucleus Research HCM Technology Value Matrix 2018 is
a comprehensive evaluation of 18 HCM solution providers.

"This report strongly validates our product-functionality leadership
across the entire HCM market," said Adam Rogers, chief technology
officer at Ultimate. "We are transforming human resources with our
people analytics, and driving HR innovation with investments in our AI
technology platform, Xander. Our ‘People First' approach to product
design and services, and the feedback from our customer partners, are
generating our momentum across key aspects of the user experience."

Nucleus states in the report: "Leaders have set themselves apart by
aggressively innovating in functionality around analytics and AI, real
time prescriptive and predictive recommendations, and broad usability
and accessibility."

According to Nucleus, Ultimate continues to offer strong solutions for
complex payroll, predictive analytics, people analytics, recruiting, and
onboarding. Nucleus also notes that Ultimate's customers can apply
UltiPro's predictive analytics to both retention and performance to help
decrease turnover and increase productivity. Additionally, Nucleus
highlights Ultimate's prescriptive analytics including Leadership
Actions and UltiPro Perception, which help managers "recognize, engage,
and develop the potential of their employees."

UltiPro unites all aspects of HR, payroll, and talent management in one
comprehensive cloud solution that enables organizations to achieve a
complete view of their workforce. UltiPro's robust business intelligence
tools take advantage of this single source of employee data to deliver
the workforce insight needed to make smarter, more informed decisions.
Key UltiPro functionality includes powerful payroll software that can
handle the most complex pay calculations, recruiting and onboarding
solutions that help companies find the right people and support their
engagement from day one, time and workforce management, and a
performance management solution that facilitates an understanding of
employee competencies, identifies and reduces gaps, and supports
planning for future workforce needs. Additionally, Ultimate's advanced
portfolio of artificial intelligence technologies, Xander, enables
leaders to better understand employees through survey data, and use
predictive analytics to provide actionable insights that improve talent
decisions and boost employee performance.

About Ultimate Software

Ultimate is a leading provider of cloud-based human capital management
solutions, with approximately 40 million people records in the Ultimate
cloud. Our award-winning UltiPro delivers HR, payroll, talent, time
management, employee sentiment analysis, and HR service delivery
solutions that connect people with the information they need to work
more effectively. Founded in 1990, Ultimate is headquartered in Weston,
Florida, and employs approximately 4,700 professionals. In 2018,
Ultimate ranked #3 on Fortune's prestigious 100 Best Companies to
Work For
list, our seventh consecutive year in the top 25; #1 on its Best
Workplaces in Technology
list for the third year in a row; and #1 on
its 100 Best Workplaces for Millennials list, our second year at
the top. Also in 2018, PEOPLE magazine ranked Ultimate #3 on its 50
Companies That Care
list, and our Services organization was named #1 Customer
Service Department of the Year
by Customer Sales and Service World
Awards. In 2017, Forbes ranked Ultimate #7 on its list of 100 Most
Innovative Growth Companies
. Ultimate has approximately 4,400
customers with employees in 160 countries, including Bloomin' Brands,
Culligan International, Feeding America, Red Roof Inn, SUBWAY, Texas
Roadhouse, and Yamaha Corporation of America. More information on
Ultimate's products and services for people management can be found at www.ultimatesoftware.com.

UltiPro is a registered trademark of The Ultimate Software Group, Inc.
All other trademarks referenced are the property of their respective
owners.

Follow Ultimate Software on Twitter: www.twitter.com/UltimateHCM
and on LinkedIn: https://ulti.pro/LinkedIn

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