[July 29, 2015] |
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Kronos Once Again Named World Market Leader by IHS; Kronos Cloud Growth Drives Adoption for Workforce Management Solutions
Kronos
Incorporated today announced that, according to the latest global
study of workforce management solutions published by IHS
Technology (NYSE: IHS (News - Alert)), Kronos is once again the solid leader of the
global workforce management market.1 In addition, IHS
predicted that increasing adoption of software-as-a-service (SaaS (News - Alert))
workforce management solutions will be the most influential factor
affecting market growth over the next five years. With Kronos leading
the market and the Kronos (News - Alert) Cloud being the fastest-growing segment of
Kronos' business, Kronos is driving the adoption toward cloud for
workforce management and transforming the way organizations manage their
workforces.
News Facts
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In 2014, Kronos led all vendors with a 23.9 percent share2
of the global workforce management market and 34 percent share3
in the Americas. Also in 2014, Kronos maintained leadership positions
in India, Oceania, and the United Kingdom and Ireland.4
Kronos also grew share in Europe, Middle East, Africa, and Asia.5
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IHS sees the world market for SaaS workforce management solutions
growing more than 14 percent6 over the next five years. The Kronos
Cloud is experiencing significant growth across all industry
segments and company sizes, and is the fastest-growing aspect of the
business. More than 84 percent of new Kronos customers are deploying
in the Kronos Cloud.
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Another workforce management trend identified by IHS is an increasing
use of analytics, up approximately 15 percent7 in 2014. Kronos
Workforce Analytics - Kronos' leading strategic product - and the
Big Data for Workforce Management practice group are changing the face
of big data for workforce management by helping organizations align
operatonal and financial data to monitor processes, improve outcomes,
and plan for the future.
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The data described in this release was obtained from "The
Workforce Management Solutions - World Report," which provides a
comprehensive assessment of the workforce management market and
estimates market share held by leading suppliers. The latest report
was published in June 2015 and written by Sam Grinter, market analyst
at IHS.
Supporting Quotes
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Aron Ain, chief executive officer, Kronos
"The pace of
customers choosing to deploy in the Kronos Cloud is greatly exceeding
our expectations and we now have more than 15,000 organizations
running in the Kronos Cloud. As the hands-down leader in the market,
Kronos is setting the pace for the workforce management industry and
paving the way for organizations who want to derive maximum value fast
from their workforce management investment."
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Sam Grinter, market analyst, IHS
"Our research has shown
that the market for workforce management solutions is expected to grow
relatively quickly with a large proportion of the growth as a result
of the increasing adoption of SaaS. Kronos and other vendors have gone
a long way to legitimize the use of cloud for the application of
workforce management."
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™.
© 2015 Kronos Incorporated. All rights reserved. Kronos and the Kronos
logo are registered trademarks and Workforce Innovation That Works is a
trademark of Kronos Incorporated or a related company. See a complete
list of Kronos trademarks. All other trademarks, if any, are property of
their respective owners.
1 IHS Technology, Workforce Management Solutions Report
2015 (June 2015), at 284.
2 Ibid., at page 284.
3 Ibid., at page 294.
4 Ibid., at pages 288, 292, 304, 305 and 306.
5 Ibid., at pages 288, 292, 304, 305 and 306.
6 Ibid., at page 7.
7 Ibid., at page 54.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150729005310/en/
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