Scissortail HCM, which is powered by Kronos, will enjoy huge benefits from the latest acquisition in the HCM market space. This is a major transaction in the HR technology world, maybe the most significant one to date.
The two firms together represent $3 billion dollars in revenue and 12,000 employees after they combined. The two firms have alliance relationships/partnerships with many key players in the market, like ADP and SAP, and they expect to maintain and strengthen these relationships.
Ultimate and Kronos have been head-to-head competitors in the HCM space for years. Ultimate’s edge has been a broader offering in core HR components, while Kronos’ offering in payroll and time collection scored higher. The two combined will dominate all other products in the market as they cross-pollinate their respective products.
Additionally, Kronos has served the small-to-medium market space, with Ultipro providing software to larger firms. They report that there is less than a 2% customer overlap.
Look for great changes in Scissortail HCM as she and her sister product Workforce Ready benefit from this merger.