| [January 05, 2017] |
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Kronos Acquires Financial Management Solutions Inc. to Deepen Financial Services Industry Expertise
Kronos
Incorporated today announced that it has acquired Financial
Management Solutions Inc. (FMSI), a leading provider of workforce
management and analytics applications for the credit union and retail
banking industry.
News Facts
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Founded in 1990 and headquartered in Alpharetta, Ga., FMSI offers
technology solutions that help drive productivity, sales, and service
performance in branches for credit unions and retail banks. FMSI's
flagship product line, Omnix, is an integrated Software as-a-Service
(SaaS (News - Alert)) suite of applications including staff scheduling, performance
analytics, lobby tracking, and appointment scheduling.
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This acquisition deepens Kronos' (News - Alert) expertise within the financial
services industry, specifically the credit union and retail banking
segment, complementing Kronos' human capital management (HCM) strength
with unique functionality for optimizing branch operations.
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FMSI solutions are currently used by more than 100 organizations, and
FMSI will benefit from Kronos' extensive resources and HCM domain
expertise, helping accelerate the pace of product innovation and drive
greater demand.
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Acquiring FMSI also supports Kronos' SaaS expansion strategy, which
remains the fastest-growing aspect of the company's business.
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Kronos will continue to support the acquired customers through a
dedicated team of FMSI employees, and FMSI customers will have access
to a comprehensive and complementary array of Kronos HCM and workforce
management solutions.
Supporting Quotes
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Bob Hughes (News - Alert), chief strategy officer, Kronos
"Kronos'
acquisition of FMSI demonstrates our commitment to helping financial
services organizations, especially credit unions and retail banks,
more effectively manage their most valuable asset - the workforce.
Kronos believes that great businesses are powered by great people, and
employee engagement is critical for success. Together with Kronos
human capital management offerings, FMSI solutions can help create a
work environment for our customers in which employees feel valued and
treated equitably."
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W. Michael Scott (News - Alert), chairman/chief executive officer, Financial
Management Solutions Inc.
"FMSI's acquisition by Kronos
launches a new chapter for FMSI employees and customers. To be part of
a leading, global organization such as Kronos means we can now take
even greater strides in innovation. Also, Kronos' employee and
customer centric approach is unparalleled in the industry and we are
excited to gain from the associated knowledge and benefits."
Supporting Resources
About Kronos Incorporated
Kronos is a leading provider of
workforce management and human capital management cloud solutions.
Kronos industry-centric workforce applications are purpose-built for
businesses, healthcare providers, educational institutions, and
government agencies of all sizes. Tens of thousands of organizations -
including half of the Fortune 1000® - and more than 40
million people in over 100 countries use Kronos every day. Visit www.kronos.com.
Kronos: Workforce Innovation That Works™.
© 2017 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170105005205/en/
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