Kronos knows time is money for its customers. The company makes and implements workforce management software particularly for organizations with large, complex workforces. With a goal of controlling labor costs and improving employee productivity, its software products automatically collect time and attendance data, manage scheduling and absence, oversee administrative, HR, payroll, and hiring processes, and provide data analytics on cost and performance problems. Serving more than half of the Fortune 1000, it focuses on the education, health care, hospitality, manufacturing, retail, and government markets, among others. Kronos is owned by an investment group led by private equity firm Hellman & Friedman.
Kronos has broadened its service offerings and developed Web-based versions of its software, responding to the general trend in the software market of companies offering clients the choice of both installed and hosted versions of their products. The company also works with hardware, software, and services partners such as Accenture, Cerner, Fiserv, Microsoft, Saba, and Xerox.
Sales and Marketing
Kronos sells directly, as well as through its partnerships with hardware, software, and services firms. Kronos'clients include Briggs & Stratton, Clemson University, Constellation Brands, John Q. Hammons Hotels & Resorts, and United Supermarkets.
One of the company's chief priorities is expanding its operations in developing markets, such as those of the BRIC countries. During 2010 and 2011 Kronos made a deal with reseller Valueteam to market its products in Brazil and opened a new facility in India. In China, where it has seen exploding revenue growth, Kronos established two new offices and expanded its partner network. In late 2012 the company established a reseller agreement with Capgemini China.
Mergers and Acquisitions
The company's acquisition strategy includes purchasing independent resellers and distributors of its products and buying other software companies with applications that expand Kronos' product line. Some of its purchases have included ClarityMatters, Compu-Cash Systems, Deploy Solutions, SmartTime Software, Stromberg, TimeWorks, and Unicru.
In 2012 Kronos expanded its health care portfolio with the purchase of Portland, Oregon-based OptiLink, a provider of staff management software used by nursing departments. OptiLink's customers include Seton Healthcare and Intermountain Health Care. Also that year it acquired SaaShr.com, and its parent WebApps, Inc., which offers cloud-based workforce management software for small and mid-sized businesses.
In 2011 Kronos bought Principal Decision Systems International (PDSI), which provides public safety workforce management software. PDSI's TeleStaff application offers scheduling and notification tools used by more than 600 city and county fire, emergency, police, and corrections organizations in the US.
Kronos is also expanding its international reach through acquisitions. Bolstering its presence in the EMEA region, in 2012 Kronos bought UK-based SMART Computer Holdings and its Spanish affiliate SMART Human Logistics. SMART provides onsite and cloud-based workforce management software to manufacturing, services, retail, hospitality, and public sector markets; it is a leader in the health care workforce management market, serving a number of National Health Service customers in the UK. – less