Ceridian will rebrand itself as Dayforce, adopting the name of its flagship HCM platform as its overall corporate identity, beginning in January. The move is meant to underscore the company’s ambitions for leadership in the cloud HCM space.
The announcement was made at INSIGHTS 2023, Ceridian’s annual customer conference in Las Vegas.
“Dayforce represents our products, company and community at their best, so it is only fitting that we are doubling down on the brand as we look to accelerate our growth as the go-to global people platform,” said Chair and Co-CEO David Ossip. Using Dayforce as a unified brand will create clarity for customers, employees and the company’s partner-developer ecosystem, he said.
The company expects to change Ceridian HCM Holding Inc. and its global operating entities to reflect the Dayforce brand during 2024. None of the rebranding efforts should impact fiscal year 2023 guidance, the company said.
Rising Results
Ceridian acquired Dayforce Corporation, developers of the Dayforce HCM solution, in 2012, and named Dayforce founder Ossip as Ceridian CEO soon afterwards. The combined company went public in 2018. Since then, Ceridian has expanded the Dayforce platform, aggressively moved to increase its presence around the world and explore markets related to its core HCM focus, such as the launch of Dayforce Wallet in 2020.
In a blog post, Chief Marketing and Communications Officer Eric Glass said the Dayforce name better represents the company’s future. “Dayforce is where the company’s revenue is largely focused and where product investment is going,” he said.
So far this year, Ceridian has launched a new tiered model for Dayforce Managed Payroll and released Dayforce Career Explorer, which is designed to help employees manage their careers.
Financial analysts say the company’s recent results reflect rising revenue, positive operating income and an improving gross profit margin. Its second-quarter results exceeded expected revenue and profitability numbers. Dayforce recurring revenue increased 39% during the period, Ossip told analysts. The company reported having nearly 6,300 customers on Dayforce, with 40% of them using the full product suite.
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