Vendor Analysis
published on Aug 23, 2024
Report Overview:
NelsonHall’s vendor assessment analyzes Dayforce's offerings and capabilities in Workforce Management services
Who is this Report for:
NelsonHall’s New World Workforce Management profile on Dayforce is a comprehensive assessment of Dayforce’s 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 Dayforce’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 centers.
Key Findings & Highlights:
Dayforce (formerly known as Ceridian) is a publicly traded (NYSE, TSX: DAY) global human capital management (HCM) software company. The firm was formed as the payroll bureau business of Control Data Corporation (CDC) and emerged in 1992 as an information services company after the restructuring of CDC.
In April 2012, Ceridian acquired Dayforce, a SaaS-based HCM platform. It began focusing primarily on HCM cloud technology development and later divested its service-related businesses, including its electronic payment services organization and benefits administration business.
In February 2024, Ceridian rebranded as Dayforce to reflect its go-to-market strategy as a unified HCM provider and global people platform. In the months since the rebrand, Dayforce has significantly increased its portfolio with the acquisition of eloomi, a learning and development platform, and expanded its global reach with the launch of Dayforce Payroll in Singapore. Additionally, Dayforce has enhanced its tech offerings with Dayforce Flex Work, an on-demand marketplace that allows organizations to post open shifts and scale their workforce by selecting from a pool of skilled and flexible workers.
As of the end of CY 2023, Dayforce had 6.4k total customers (~6.84m employees) live on its platform. This profile focuses specifically on Dayforce’s WFM technology offering.