Click here to close now.




















Welcome!

Agile Computing Authors: Gregor Petri, Elizabeth White, Samuel Scott, Liz McMillan, Cloud Best Practices Network

News Feed Item

Kronos Announces Another Strong Quarter as SaaS Bookings Grow 97 Percent

Kronos Incorporated – which recently surpassed $1 billion in annual revenue1 – today announced financial results, company advancements, and customer successes for the third quarter of Fiscal 2014. Product bookings continued to accelerate, with Kronos Cloud bookings as the fastest-growing part of the business. Kronos recognized revenue for the quarter increased to $265 million. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased to $88.5 million.2

“It’s thrilling to be part of the exclusive group of software companies that have grown beyond $1 billion in annual revenue, and the first vendor to do so in the workforce management market,” said Aron Ain, Kronos chief executive officer. “Equally thrilling is the pace of our growth compared to the global workforce management market, our increasing market share, and our rapidly expanding cloud footprint. Kronos is in a fantastic position moving into the final quarter of our Fiscal 2014. Our strong financial results and the investments we are making in our company – including continued product innovation, expansion of our sales force, and delivery of a superior customer experience – all reinforce that the best days are still ahead for Kronos.”

Third-Quarter News Facts

  • Outpacing the workforce management market – Deployed in more than 100 countries, Kronos is the leader in the global workforce management market. According to a global study of workforce management solutions3 published by IHS Technology (NYSE: IHS), Kronos grew more than 11 percent. The IHS report determined that the overall worldwide workforce management market grew 7.9 percent during the same period, indicating that Kronos continues to increase its market share. Only Kronos was found to have positive market share growth in all global regions during this period, while the share of other leading suppliers of workforce management solutions declined. Also according to IHS, Kronos led all vendors with more than 25 percent share of the global workforce management market. In the Americas, Kronos broadened its number-one position by increasing its share to nearly 38 percent.
  • Tremendous growth of the Kronos Cloud – The Kronos Cloud is experiencing significant growth across all market segments. 77 percent of new customer bookings were from an array of Kronos Cloud offerings, bringing the total number of organizations leveraging the Kronos Cloud to nearly 12,000. Kronos workforce management cloud revenue increased 57 percent and SaaS bookings increased 97 percent during the quarter.
  • Vertical expertise – Kronos experienced strong momentum across targeted vertical segments – including retail and hospitality, healthcare, services and distribution, manufacturing, and the public sector. The services and distribution sector was particularly strong, having its best-ever product bookings quarterly performance.
  • Extraordinary growth in SMB sector – Product bookings in the small and midsize business (SMB) sector increased 42 percent driven by strong performance of the Workforce Ready® and Workforce Central® suites and increased traction in the SaaShr partner channel. Workforce Ready is increasingly being adopted by new customers, as well as those upgrading from prior generations of Kronos solutions. During the quarter, Kronos delivered the latest release of Workforce Ready, providing even greater value to SMBs, making it easier than ever for them to effectively manage their workforces.
  • Rapid pace of innovation – Continued innovations in Kronos workforce management solutions was a key driver in the strong double-digit increase in product bookings during the quarter. Recent product releases include: the latest version of the Kronos Workforce Central suite including hundreds of enhancements; Workforce Collaboration social networking and collaboration; Workforce Analytics and Workforce Analytics on Tablet with visualization and exploration; Workforce Mobile and Workforce Tablet with geo-fencing capabilities; the latest version of the Kronos InTouch® time clock with new biometric technology; availability of Workforce Task Management via tablet devices; the latest version of the Kronos Workforce Ready® suite; many enhancements to meet specific vertical and global requirements; and additions and advancements to many other Kronos applications. There has never before been a timeframe in which Kronos has released so many new product offerings in such a short period of time.
  • Engaged and satisfied customers – During the quarter, Kronos hosted thousands of customers in a 30-city world tour of KronosLIVE, a series of events that offered the latest insights into how Kronos’ game-changing workforce management solutions combine ease of use and deep functionality to help organizations control labor costs, minimize compliance risk, and improve workforce productivity. KronosLIVE was offered in cities throughout the U.S. and in international locations such as London, Mexico City, Montreal, Mumbai, and Shanghai. In addition, during the quarter Kronos was recognized for consistently exceeding customer expectations by Omega Management Group Corp. Kronos is one of only two companies to receive this award 14 consecutive years.
  • Customer successes around the globe – In the third quarter of Fiscal 2014, Kronos signed agreements with organizations around the world such as: Allity Pty Ltd., a for-profit organization with 31 aged care facilities in Australia; CenterLight Health System, a leading resource for long-term residential and community-based healthcare; Century 21 Department Stores, a retailer located in New York City offering designer merchandise; Charleston County School District, a K-12 school system comprised of 80 schools; City of Hampton, a city in Virginia; Country Fire Authority, a volunteer- and community-based fire and emergency services organization in Australia; Crittenton Hospital Medical Center, a full continuum provider of nationally ranked clinical programs representing a wide range of medical specialties providing primary, secondary, and tertiary-level care; Department of Justice Federal Prison Industries (FPI), a U.S. government corporation that employs and provides job opportunities to inmates in the Federal Bureau of Prisons; Dulsco, a leading provider of human resource solutions and waste management services headquartered in Dubai with operations throughout the UAE and Qatar; Element Fresh, a fast-growing dining chain company with more than 20 locations in Beijing, Guangzhou, Nanjing, and Shanghai; Emory Healthcare, a comprehensive hospital system in Georgia; EnviroWaste, a company that delivers EnviroSolutions to address the waste and recycling needs of New Zealand’s communities and businesses; Hastings Entertainment, Inc., a leading multimedia entertainment retailer; Indiana University Health, a comprehensive healthcare system in Indiana; Nebraska Department of Roads, a state agency responsible for surface transportation programs; NYC Transit Authority, one of the largest transit systems in North America; Presence Health, the second-largest healthcare system in Illinois; Ridley Family Markets, a family-owned chain of grocery stores operating 24 supermarkets in Idaho, Utah, Nevada, and Wyoming; Sky Lakes Medical Center, an internationally accredited, community-owned acute-care hospital in Oregon; Silver Reef Casino, a casino resort serving the northwestern region of the U.S.; St Andrews Healthcare, one of the largest charities in the UK providing specialist mental healthcare services; Town Sports International, an operator of fitness centers in the U.S. and Switzerland; Trusthouse Services, provider of outsourced food management services, operating primarily in the education and healthcare sectors; and Wyoming Department of Health, an organization dedicated to supporting and enhancing the health of citizens in Wyoming.

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.

© 2014 Kronos Incorporated. Kronos, the Kronos logo, Workforce Central, InTouch, and Workforce Ready are registered trademarks and Workforce Collaboration, Workforce Analytics, Workforce Mobile, Workforce Tablet, Workforce Task Management, and Workforce Innovation That Works are trademarks of Kronos Incorporated or a related company. All other trademarks are property of their respective owners.

Footnote 1: As announced May 7, 2014 on a last-twelve-month basis, ending March 29, 2014.

Footnote 2: All financial information within this press release is presented using non-GAAP financial measures. Kronos believes that non-GAAP measures of financial results provide useful information regarding certain financial and business trends relating to Kronos’ results of operations. Non-GAAP revenue consists of GAAP revenue excluding the effect of the write-down of deferred revenue associated with purchase accounting for certain acquisitions and includes timing adjustments related to international product deliveries which management includes when evaluating operating results. Product bookings represent gross product value of product orders and the product equivalent value of SaaS orders. EBITDA consists of GAAP income from operations excluding: (1) share-based compensation expense for stock options and stock awards in accordance with ASC 718; (2) amortization of capitalized software development costs; (3) depreciation of property, plant and equipment; (4) amortization of acquired intangible assets; (5) acquisition-related expenses including advisory, legal, accounting, acquired employee-related costs, and integration costs; and (6) consulting expenses that are excluded from the definition of EBITDA under the terms of the Company’s Credit Agreement.

Footnote 3: “The Workforce Management Solutions – World Report” (2011-2013), published April 2014 and written by Sam Grinter, market analyst at IHS.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater.
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...