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June 02, 2015 10:09 AM ET

Internet Software and Services

Company Overview of Kronos Incorporated

Company Overview

Kronos Incorporated provides workforce management solutions in cloud to businesses, schools, governments, and healthcare providers in the United States and internationally. The company offers time and attendance, scheduling, absence management, human resource and payroll, hiring, and labor analytics applications. It also provides implementation services, educational services, support services, cloud services, and optimization services. The company was founded in 1977 and is based in Chelmsford, Massachusetts.

297 Billerica Road

Chelmsford, MA 01824

United States

Founded in 1977

3,400 Employees

Phone:

978-250-9800

Fax:

978-367-5900

Key Executives for Kronos Incorporated

Chief Executive Officer and Director
Age: 56
Founder and Member of the Board
Age: 71
Chief Financial Officer
Age: 50
Chief Services Officer and Senior Vice President of Operations
Age: 44
Vice President and General Counsel
Compensation as of Fiscal Year 2014.

Kronos Incorporated Key Developments

Kronos Incorporated Unveils New Version of Workforce Central

Kronos Incorporated unveiled a major new version of its product suite, Workforce Central. Workforce Central 8 combines a reimagined user experience with unmatched industry-specific functionality, powerful analytics, comprehensive global capabilities, and proven cloud delivery for a complete, uncompromised solution that allows organizations to control labor costs, minimize compliance risk, improve workforce productivity, and increase employee engagement " regardless of their industry or where they do business. Reimagined user experience "Designed for the needs and expectations of an increasingly diverse, multi-generational global workforce, Workforce Central 8 sets a new standard for ease of use with: An engaging and innovative look and feel that leverages HTML5 technology for efficient and intuitive navigation; An enhanced timecard that is both configurable and actionable, simplifying completion of routine tasks and access to critical employee information; A reimagined schedule planner that delivers exceptional visibility to staffing and coverage with many new features, including employee photos, color coding of jobs, and flexible multi-week calendar views; New Workforce Genies that allow managers to easily access, group, filter, and summarize operational data; Simplified historical correction capabilities that provide a seamless and secure process for viewing and editing missed punches, pay codes, and other details from previous periods; Enhanced mobile capabilities that enable offline punching, hourly and project timecard editing, notification alerts, and management of time-off requests; and Flexible open-shift management that enables managers to easily and automatically create and notify employees of open shifts on approval of time-off requests. Exceptional features for every industry " Organizations should not have to compromise on functionality, integration, or performance when meeting the demanding needs of their specific industries. In addition to innovative features such as Leaderboards [2] and Grant and Project Tracking [3], Workforce Central 8 enables enhanced business outcomes with features designed to increase productivity, improve employee engagement, and deliver a better customer experience: Enhanced employee self-service scheduling provides visibility into location schedules and coverage. Employees can now review assigned shifts, check coverage by job role, and request open shifts in a familiar weekly or monthly calendar view; New fatigue management capabilities enable managers to track, alert, and adjust schedules to avoid the use of over-worked employees and the safety hazards, employee dissatisfaction, and reduced productivity associated with work fatigue; Managers can make more efficient scheduling and staffing decisions using predictive on-screen reporting of projected overtime and alerts to related rule violations; Retailers and hospitality providers can improve productivity and customer satisfaction with: New task management features that provide a more granular view of labor required for customer-facing, non-customer-facing, and program-oriented tasks, allowing store managers to make better staffing decisions; and Current week re-forecasting analyzes actual sales and customer traffic data to suggest midweek adjustments to sales projections and staffing levels due to unforeseen influences such as weather, local events, or other unusual activity. Advanced staffing and predictive scheduling capabilities enable healthcare organizations to improve staff satisfaction and deliver quality patient care all while managing labor costs: Predictive volume forecasting measures historical performance and current patient flow to determine optimal staffing requirements; and Workload management considers the demand for care with each patient’s level-of-care intensity while equitably distributing and balancing staff assignments; and Shift-based productivity tracking helps healthcare organizations manage in-the-moment by showing real-time variances from planned performance. Unparalleled business insight with reporting and analytics " Workforce Central 8 can reveal the underlying truths in an organization’s transactional workforce data to identify and help resolve complex labor cost, compliance, and productivity issues with: Operational reporting through convenient Excel-based scheduling and timekeeping report templates that allow user modification to meet specific business needs; Interactive visualization that highlights labor patterns and trends using geospatial analysis, while incorporating additional data sources, such as enterprise resource planning (ERP) or point-of-sale (POS) systems; Actionable insight to reveal trends in employee attendance, unplanned absence, and related actions, with ability to segment by multiple dimensions, such as labor account, job, and tenure; Industry-specific insight that provides greater visibility into how effectively organizations plan, schedule, and manage labor spend against customer demand, patient needs, and client requirements; and Workforce Analytics Plug-ins developed by Kronos and select partners using Workforce Central and third-party data to deliver better insight into critical business needs. Plug-ins include Affordable Care Act (ACA); Store Performance; Workforce to Workload; Labor Cost Variance; and Retail IQ. Enhanced global capabilities " Kronos continues to extend competencies to meet the stringent requirements of organizations worldwide including: Compliance support at the country-, regional-, county-, union- and city-level to help organizations manage the myriad of ever-changing compliance requirements related to working time, reporting, and other regulations; and new international scheduling rules and alerts that enable organizations to comply with country-specific legislation, collective agreements, and company policies that specify limits for total hours worked over variable periods of time. Proven cloud delivery " Kronos continues to add thousands of customers to the Kronos Cloud, with more than 80% of new customer bookings leveraging an array of Kronos Cloud offerings. Additionally, built upon deep expertise gained from migrating hundreds of existing on-premise customers to the cloud, Kronos recently launched a Cloud Readiness assessment service [4] to help new and existing customers maximize the value of implementing their Workforce Central solution in the Kronos Cloud.

Kronos Incorporated Announces Latest Release of Kronos Workforce Ready Suite

Kronos Incorporated announced the latest release of the Kronos Workforce Ready suite - including the launch of a powerful scheduling module - to deliver enterprise-class workforce management solutions in the cloud to small and midsize businesses (SMBs). In addition to helping solve the complex workforce scheduling puzzle, the latest release of Workforce Ready delivers an enhanced user experience with intuitive features that help SMBs reduce compliance risk while adding new recruiting, performance management, and benefits administration tools for HR. The new scheduling application helps organizations: solve the complex scheduling puzzle by assigning the right employee to the right job at the right time while freeing managers to focus on their people and the core business; develop efficient schedules in the cloud with drag-and-drop convenience that balance employee preferences, customer demand, and predefined criteria - including availability, skills, certifications, company policies, and union rules. Enhancements to Workforce Ready HR continue to help organizations effectively recruit, manage, and reward the workforce: recruiting has been streamlined with functionality that automates hiring tasks and generates new notifications to help hire and efficiently onboard best-fit employees with the ability to import existing applicant information from legacy systems; new workflows enable a more flexible and user-friendly performance review process, including more visibility into performance review schedules, the ability for multiple reviewers to process reviews simultaneously or in parallel, and an option to add a general comments section at the end of the review; and usability and reporting enhancements for benefits management simplify the employee enrollment process while reducing the administrative burden on HR associated with benefits program design and configuration, carrier reconciliation, and reporting. Workforce Ready continues to revolutionize the workforce management user experience for SMBs with a new dashboard widget with customizable quick-link buttons that streamline common tasks and processes to make the system easier to navigate for all users. New default workflows have been added along with more options to configure existing workflows that automate business processes and help drive consistent policy enforcement. Timesheet visibility and time-off request processes have been enhanced to eliminate steps to request time off, cancel time-off requests, and modify employee timesheets. New features continue to help SMBs reduce compliance risk with intuitive and easy to use reporting functionality, including the ability to streamline and automate forms and reporting requirements associated with the Affordable Care Act (ACA).

Kronos Incorporated Announces Earnings Results for the Second Quarter of Fiscal 2015

Kronos Incorporated announced earnings results for the second quarter of fiscal 2015. Kronos recognized revenue for the quarter increased to $262.1 million. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased to $84.3 million.

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