Vendor Analysis
published on Jul 14, 2022
Report Overview:
NelsonHall’s vendor assessment analyzes TCP's offerings and capabilities in Workforce Management services.
Who is this Report for:
NelsonHall’s New World Workforce Management profile on TCP is a comprehensive assessment of TCP offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Workforce Management and identifying vendor suitability for Workforce Management RFPs
- Vendor marketing, sales, and business managers looking to managers developing strategies to target service opportunities and benchmark themselves against their peers
- Financial analysts and investors specializing in the Workforce Management sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of TCP’s Workforce Management services offerings and capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
NelsonHall’s vendor assessment analyzes TCP’s offerings and capabilities in Workforce Management services. Founded in San Angelo, Texas, in 1988 to solve time tracking challenges in the restaurant industry, TCP (TimeClock Plus) has since grown into a comprehensive workforce management solutions provider with time and attendance and scheduling at its core. Now servicing the public and private sectors, TCP supports ~30k customers with ~4.3m users, employs ~400 employees, and has expanded its footprint to include additional offices in Texas, with headquarters in Austin, Texas.
Key milestones in the company's development are:
- 1988 founded
- 1990 hardware integration
- 1995 Windows release
- 2015 SaaS release
- 2019 acquired by Providence Equity Partners
- October 2020 rebranded from TimeClock Plus to TCP
- December 2020 acquired Humanity to enhance its scheduling capability. Humanity offers a cloud-based employee scheduling platform, which was integrated in 2021 into TCP’s cloud-based workforce management software suite. Humanity is designed to accelerate schedule creation, as well as insights to optimize staffing based on historical sales and sales forecasts, employee skill set, and staff availability. Since 2010, ~7k clients representing ~1.3m users have used Humanity. The acquisition in December 2020 was a significant step for TCP, as it not only added enhanced scheduling capability to the product set but strong partnerships across the HCM market. It primarily operated through a partnership model with channel sales with credibility in the Workday HCM ecosystem with a certified Workday integration and a number of Workday clients
- October 2021 acquired Aladtec, an employee scheduling and workforce management system specifically developed for Public Safety Departments. Founded in 2005, Aladtec’s scheduling solution allows TCP to extend its client base to service the unique time and attendance needs, specifically for custom scheduling capabilities, of both volunteer and multi-location police, EMS, and fire departments. Headquartered in River Falls, Wisconsin, Aladtec’s addition to TCP’s portfolio allowed the organization to expand its service deliveries to the North and Mid-Western regions of the U.S.
TCP has ~450 employees supporting workforce management offering, primarily based in three main locations in the U.S.: San Angelo (Texas), Austin (Texas), and San Francisco (California). The Humanity organization, acquired in 2020, added ~260 employees, doubling its size.