UKG’s total revenue increased by 9% during fiscal 2020, hitting nearly $3 billion. Earnings before interest, tax, depreciation and amortization (EBITDA) rose 10%, to almost $770 million.
The results were the first announced since Ultimate Software and Kronos merged to form UKG earlier this year. “The story of UKG has only just begun, and what an extraordinary first chapter we’ve written,” said Aron Ain, UKG chairman and CEO.UKG announced increased revenue in its first report since Ultimate Software and Kronos completed their merger, and added new analytics tools to both platforms. @UKGInc#HR #HRTech Click To Tweet
Together, Ultimate and Kronos spent some $2 billion over the past five years, including more than $500 million in fiscal 2020. The company said those investments allowed solutions to quickly evolve along with market demands, including those sparked by the Covid-19 pandemic.
Analytics Across Products
Meanwhile, UKG introduced new analytics capabilities for its UKG Pro and UKG Ready products, the first major enhancements unveiled since Ultimate Software and Kronos rebranded in October.
UKG Pro, known as UltiPro before the merger, will add a Workforce Continuity tool that allows HR to focus on employee well-being, gather workforce intelligence and protect operations during a crisis.
Workforce Continuity includes a mobile-first employee check-in, intended for use in emergency situations—such as, say, a pandemic. The check-in can be deployed to specific employees, as necessary, and gathers information about needed assistance, ability to work and whether unaffected employees can help their colleagues. A Workforce Continuity Hub analyzes and visualizes data to help with decision-making.
At the same time, UKG incorporated sentiment analysis into UKG Ready, previously known as Kronos Workforce Ready. The feature’s designed to provide better insights into the effects of workplace initiatives. “Leveraging sentiment analysis will help organizations read between the lines to create more meaningful work experiences,” said Jess Griffin, UKG Ready’s vice president of global product management.
Initially, sentiment analysis will be incorporated into Ready’s recruiting module. The idea is to help HR and hiring managers understand the characteristics that make for strong candidates, the company said. Down the road, sentiment analysis will be applied to a wider variety of surveys, covering areas such as engagement and performance.
UKG also announced the formation of UKG Global Delivery Services, comprised of 2,000 services professionals positioned around the world. They’ll work closely with the company’s customer success and executive relationship management teams.
Disclosure: UKG is a sponsor of the HCM Technology Report
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