| [May 14, 2013] |
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Kronos Helps Government and Education Entities Control Labor Costs More Effectively With Workforce Analytics
CHELMSFORD, Mass. --(Business Wire)--
Kronos
Incorporated today announced availability of its public
sector Workforce Analytics™ application, which provides state and
local governments and K-12 and higher education institutions with
on-demand access to labor hour and cost reports. With as much as 80
percent of public sector budgets tied to labor costs, Kronos (News - Alert) is helping
agencies and institutions across the nation track labor-related expenses
in real time, so costly errors can be preempted and labor utilization
can be accurately reported back to the funding source.
News Facts
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Governments and educational institutions are collecting more labor
data than ever before, but this information is currently trapped in
disparate systems and silos with no easy way to transfer critical
workforce insights to the frontline managers who need them the most.
Kronos is addressing this issue with its Workforce Analytics
application specifically designed for the public sector.
-
Workforce Analytics helps control labor costs, minimize compliance
risk, and improve productivity by avoiding budget overruns, ensuring
continuity of services, and using grant and taxpayer dollars
responsibly.
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Part of the Kronos Workforce Central® suite, the analytics
application is a powerful tool that collects timekeeping, grant
tracking, and leave liability data from multiple sources and
transforms it into actionable business intelligence. Workforce
Analytics provides grant fund tracking with real-time visibility into
accurate labor data tied to each grant, so organizations know exactly
how grant funds are being used. This helps track depletion rates,
control continued fund usage, and avoid budget overruns. Workforce
Analytics also help determine actual labor costs associated with
specific programs to predict future labor budget requirements.
-
Workforce Analytics also provides real-time visibility into leave
liability so agencies and institutions are not caught off guard by
huge payouts when employees leave or retire. With Workforce Analytics,
managers gain timely insights into leave liability, enabling them to
anticipate leave payouts and more effectively plan for their financial
impact.
Supporting Quotes
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Thom Rubel, vice president, Government Insights, IDC (News - Alert)
"As
the largest portion of operational budgets in the public sector is
tied to workforce expenditures, the focus on these costs represents
the greatest opportunity for budgetary savings and operational
improvement. The Kronos Workforce Analytics solution offers
industry-specific KPIs and dashboards, providing transparency through
a centralized database and at-your-fingertips reporting. This is a
very powerful solution offering quick resolutions to issues, thereby
increasing accountability."
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Christine Carmichael, director, public sector practice group, Kronos
"As
public sector entities become overwhelmed with more and more workforce
data, analyzing that information and acting upon it in a timely
fashion is becoming increasingly difficult, and opportunities for
improvement are lost. Workforce Analytics from Kronos will help these
organizations make fact-based decisions that have a positive impact on
the bottom line."
Supporting Resources
About Kronos Incorporated
Kronos is the global leader in delivering workforce management solutions
in the cloud. Tens of thousands of organizations in more than 100
countries - including more than half of the Fortune 1000® -
use Kronos to control labor costs, minimize compliance risk, and improve
workforce productivity. Learn more about Kronos industry-specific time
and attendance, scheduling, absence management, HR and payroll, hiring,
and labor analytics applications at www.kronos.com.
Kronos: Workforce Innovation That Works™.
© 2013 Kronos Incorporated. All rights reserved. Kronos is a registered
trademark and Workforce Analytics is a trademark of Kronos Incorporated
or a related company. All other trademarks are property of their
respective owners.
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