Kronos Inc. has entered the mid-market human resources management system (HRMS) space with the release of Workforce HRMS, an integrated, Web-native software package comprised of Workforce HR and Workforce Payroll applications. These are the newest applications in Kronos' Workforce Central suite.
The HRMS product, released in June, is targeted at enterprises in the Midwest, South-central states, and New England. From June through the end of Kronos' fiscal year at the end of September, the company will validate product readiness, and, in October, the company plans to roll out the product nationwide, said Jim Kizielewicz, Kronos' vice president of marketing and corporate strategy.
The backbone of the new software is Best Software's Abra Enterprise product line. In March, Kronos announced that it would integrate the Abra Enterprise source code into its Workforce Central suite.
Kizielewicz said in an interview that the agreement with Best marked the fulfillment of the three primary goals Kronos set for itself last fall: expand its leadership position in the enterprise, increase its presence in the mid-market, and enter the HRMS space.
Accomplishing its first goal in June 2001 with the release of Workforce Central 4.0 for larger enterprises, Kronos then re-committed itself to the mid-market when it bought the Integrated Software business of SimplexGrinnell in January 2002 (MA, February 2002, page 10) and reorganized its labor force.
Kronos reported second-quarter 2002 net income of $5.8 million, a 174% increase over the same quarter a year ago.