Vendor Analysis
published on Jan 21, 2020
Report Overview:
This NelsonHall assessment analyzes Kronos' offerings and capabilities in U.S. SMB payroll services
Who is this Report for:
NelsonHall’s Payroll Services Vendor Assessment for Kronos is a comprehensive assessment of Kronos U.S. Small and Medium Business (SMB) payroll services offering and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of payroll outsourcing and identifying vendor suitability for payroll services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector
- HR and payroll decision makers.
Scope of this Report:
The report provides a comprehensive and objective analysis of Kronos U.S. SMB Payroll services offering, capabilities, and market and financial strength, 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 centers.
Key Findings & Highlights:
Kronos, Inc., headquartered in Lowell, Massachusetts, is a provider of human capital and workforce management solutions. It was formed in 1977 by MIT engineers who developed the first patented microprocessor-based time clock, which at the time disrupted the industry by automating the recording, totaling, and reporting of employee hours.
In April 2018, Kronos entered the payroll services business by acquiring Louisville, K.Y. based Advanced Payroll Systems (APS), which was an existing Workforce Ready partner delivering its payroll services offering to small and midsized U.S. based organizations leveraging the Kronos Workforce Ready platform.
Kronos has been in the Payroll business since 2002 when it developed enterprise HR/Payroll in its, then, flagship suite Workforce Central. Directly and through its reseller network, Kronos provides payroll technology and services in support of ~26.9k organizations and ~3.6m workers globally.
Kronos provides payroll services as an extended add-on solution to complement its cloud payroll applications available within its Workforce Ready and Workforce Dimensions HCM suites.
Kronos currently targets its payroll services offering exclusively toward its base of Workforce Ready and Workforce Dimensions HCM client adopters based in the U.S., and in Australia, supported through its partnership and integration with Payroll Metrics.