Roundup: Kronos Adds Partners; Recruiters Want Digital Transformation

HR Technology News Screens

This week’s roundup of deals, product announcements and other news from the HCM technology community.

Kronos continued to expand Workforce Dimensions Technology Partner Network by introducing additional healthcare-focused software providers that use Workforce Dimensions and the Kronos D5 platform. The new partners and include ConnectRN, Healthcare IT Leaders, PayActiv and ShiftMed. In addition, Kronos D5 is being used to develop integrations with Epic Systems Nursys. These Integrations are scheduled to launch by mid-2019.

Eighty-four percent of global recruitment firms believe they must embrace digital transformation in order to remain competitive, according to Bullhorn’s 2019 Global Recruitment Insights and Data report. The company’s research also found that 55 percent believe artificial intelligence will have a positive impact on candidate and customer engagement. Nearly half (49 percent) said embracing digital transformation to improve operations was their top operational hurdle, while pricing pressure and margin compression ranked second with 44 percent, and increased competition from freelance and gig platforms came in at 27 percent.

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Cornerstone OnDemand will open a new hub outside Salt Lake City and appointed Trish Coughlin to run it as the company’s first chief accounting officer. The company expects to house around 350 new jobs there in a number of functions, including finance, product support and engineering.

IBM Think announced collaborations with Garmin Health, Guardhat, Mitsufuji and SmartCone to monitor worker safety in hazardous environments. Using IoT systems integrated into wearables, the tools will cover employees in construction, mining and manufacturing. IBM’s Maximo Worker Insights will monitor biometric and environmental data to help identify whether employees are facing dangers or risk.

Recruiting automation platform Entelo said enterprise customers now account for more than 65 percent of its total revenue. In addition, the company said its deal size is increasing. During the fourth quarter, Entelo said, it closed its largest-ever multi-million dollar and multi-year deal, though it didn’t identify the customer.

Collaboration software vendor eXo Platform announced eXo Rewards. The new offering will complement the company’s existing services with integrated tools designed to enhance employee engagement and “develop a sense of belonging to the company.” Included in eXo Rewards are a gamification engine that counts interactions in daily business processes, and the ability to publicly thank and congratulate colleagues through the enterprise social network

Inova Payroll acquired One Source Payroll, an Irving, Texas, company that provides payroll, time and labor, HR and ACA compliance to more than 300 employers throughout the country. Inova said the companies align in terms of service, strategy and technology.

An updated version of JazzHR went live, the company said. The new site is meant to be more intuitive and organized, and offer “a more interactive experience” to users. JazzHR said the upgrade will result in fasters times-to-hire, more candidates per open role and increased job traffic.

Earnings News

Kronos said annual recurring revenue bookings increased 24 percent during its fiscal first quarter and total revenue approached $350 million. Subscription revenue, now the company’s largest revenue stream, grew 25 percent and has exceeded maintenance revenue for the first time in Kronos’s history.

TriNet’s revenues increased 7 percent, to $3.5 billion, during 2018, while net service revenues rose 10 percent, to $893 million. Net incomes hit $192 million during the period, compared to $178 million during 2017. CEO Burton M. Goldfield attributed the results to “our successful execution of our vertical market strategy delivering targeted benefits, service models, and pricing to the unique industries we served.”

Cornerstone OnDemand reported 2018 revenues of $538 million. Net loss for the was about $34 million, or $0.58 per diluted share. “The changes we made to our business in 2018 delivered innovative products, more recurring revenue, more profits and healthy, growing cash flow,” said CEO Adam Miller.

Insperity said net income for the year ended December 31 increased 60 percent to about $135 million. Diluted net income per share also rose 60 percent, to $3.22. Revenue increased 16 percent to $3.8 billion, and the average number of worksite employees paid per month climbed 14 percent.

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