UKG Solution Demand Drives Outstanding Second-Quarter Fiscal 2023
UKG, a leading provider of HR, payroll, and workforce management solutions for all people, today provided a business update for the second quarter of fiscal 2023, ending March 31, 2023, including continued growth in large HCM suite deals, third-party industry expert and end-user recognition, and product innovation.
"Demand for what UKG does remains very strong across all industries because organizations around the world need modern HCM solutions to run a successful business," said Chris Todd, CEO at UKG. "We closed the quarter above our aggressive sales goals, driven by notable success with large customers and securing the most HCM deals of $1 million or more in annual recurring revenue in UKG history. Customer migrations to our modern cloud solutions also propelled the business forward, while 8 in 10 new customers selected full-suite HCM solutions. Our SMB and midmarket business is thriving - with the number of UKG Ready deals increasing by more than 50% - which is a direct result of key investments we've made over the last 12 months. The momentum across all areas of our business shows how important what we do is."
Second Quarter 2023 Business Highlights
UKG, recently named one of America's Most Innovative Companies by Fortune, announced new product innovations, successes, and enhancements, including:
Leading global analyst firms recognized UKG solutions and the company's commitment to the HCM market with second-quarter accolades from:
"Its commitment to innovation, making the complex simple for customers, and people-first operations are the differentiators that made UKG the overall leader in our HCM Value Matrix for two years in a row," said Ian Campbell, CEO at Nucleus Research. "Feedback from UKG customers consistently notes the high ROI they receive from their UKG deployment, making it difficult to knock UKG off that Leader mantle. With a roadmap that includes human-centered and native AI-driven innovations, customers who invest today will see greater value for their people and their operations into the future."
Customer successes in the second quarter included:
In its 2022 UKG Global Impact Report, UKG established a comprehensive set of near- and long-term goals for environmental, social, and governance (ESG), with emphasis on positively impacting the environment; broadening social equity, opportunity, and impact programs; and ensuring employees, partners, and customers consistently adhere to high ethical standards and business practices.
Following its commitment to building a global brand ambassador program that mirrors its culture and is representative of its customer base, UKG signed LPGA stars Gaby Lopez of Mexico and Leona Maguire from Ireland to its increasingly diverse roster of athletes.
"The demand for our solutions continues to be very strong, and we are on the right side of today's workplace priorities," said Todd. "Organizations are focused on creating engaging and inclusive workplaces for their people, and UKG is uniquely qualified to help support our customers on that important journey."
At UKG, our purpose is people. As strong believers in the power of culture and belonging as the secret to success, we champion great workplaces and build lifelong partnerships with our customers to show what's possible when businesses invest in their people. Born from a historic merger that created one of the world's leading HCM cloud companies, our Life-work Technology approach to HR, payroll, and workforce management solutions for all people helps more than 75,000 organizations around the globe and across every industry anticipate and adapt to their employees' needs beyond just work. To learn more, visit ukg.com.
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