$975 million in revenue.
That’s how much The Giant of Workforce Management, Kronos, reported in their 2013 fiscal year. That means that for the first time ever, there will be a one billion dollar company in the workforce management space next year. It’s an exciting time for Kronos, and The WFC Group had the pleasure of being an exhibitor at their KronosWorks 2013 conference in Orlando, FL last week.
At our booth, three lucky people won prizes when we gave away a pair of Bose headphones on Monday, and two Nexus7 tablets on Tuesday. To win the prizes, we had people play trivia using our latest product, Engage UAT.
For all of you who weren’t able to attend the conference, here are 3 things we took away from KronosWorks 2013:
1. The Workforce Management Space Continues to Grow
As we mentioned before, Kronos reported $975 million in revenue in their 2013 fiscal year. This is over 10% higher than their revenues last year, and shows that the workforce management industry continues to grow. More and more companies are looking for ways to control their labor costs and improve the productivity of their workforce. Because of this, we are sure to see the first ever billion dollar workforce management company next year.
2. New Data Visualization and Exploration Features
It’s no secret, with all of the data and information we now have at our fingertips, it can be hard to analyze and understand what really matters in your company’s workforce data. Kronos responded to this in its 7.0 update by creating enhanced data visualization and exploration features, which will help users better understand where the root cause of problems such as overtime or absenteeism are occurring.
3. Emphasis on the Cloud
The release of the 7.0 update also brought with it the movement to the cloud. Workforce Ready and Workforce Central were both released as part of Kronos’ movement to cloud technology, which is also helping it become a more mobile solution. This is great news for the small to medium businesses out there that are looking for a less expensive SaaS solution to their workforce management needs.
Overall it was a great four-day conference, full of networking opportunities such as the many happy hours and dinners, as well as the New York Street Party hosted at Universal Studios, and the Partner Golf Outing. The WFC Group was able to learn new information about the developments in workforce management technology and make great connections with fellow Kronos Partners and attendees.
We are already looking forward to attending KronosWorks2014 when the conference heads to Las Vegas!