Kronos Making Inroads in Payroll Services
The demand for a single suite for human capital management (HCM) solutions continues to grow. Kronos recently announced increased growth in the Kronos Cloud Payroll solution, and the demand for this solution is another indicator of the value that customers see in using a fully integrated HCM solution. The Kronos Cloud Payroll solution works with both the Kronos Dimensions suite and the Kronos Workforce Ready suite.
Kronos customers have indicated time savings of 75% when moving from a paper-based solution to Kronos Cloud Payroll. Coupled with the mobile time and attendance application, the payroll solution works in an integrated fashion and removes the need for dual entry. In addition to collecting the information used to calculate payroll, Kronos Cloud Payroll allows users to access their own information, such as pay stubs and tax forms.
A recent survey from SoftwareReviews.com for the Kronos Workforce Management Ready and Central suites ranked Kronos Workforce Management second in likeliness to recommend and third in plan to renew (see image below). With the increased adoption of the integrated payroll functions in Kronos, the likeliness to recommend and the plan to renew values are well-positioned to increase as customers continue to drive the demand for integrated HCM solutions.
Source: Kronos Workforce Management Reviews at SoftwareReviews, Report Published June 2019
Info-Tech’s members are reporting the need to explore best-of-breed solutions that are easy to integrate. Using one vendor that offers strong capabilities under one platform increases the value of the offering and the value that customers can experience by reducing costs of maintenance and building partnerships with vendors.