Kronos Inc.  - Human Resource Software -  Category Directory

(978) 250-9800

297 Billerica Rd.

Chelmsford MA 01824
www.kronos.com

Sales

$397 million

Business Description

Kronos Incorporated (the "Company" or "Kronos") was organized in 1977 as a
Massachusetts corporation. As part of its employee relationship management
("ERM") solution, the Company develops, manufactures, and markets human
resources, payroll, scheduling, and time and labor systems. These solutions
enable organizations to reduce costs and increase productivity, improve employee
satisfaction, align employee performance with organizational objectives, and put
real-time information in the hands of decision makers.

Kronos solutions collect data from, and deliver information to, all employees,
including hourly workers, hourly professionals, and salaried professionals.
Specifically, they collect time and labor data and other information using a
variety of technologies such as desktop applications, Web-based applications,
remote transmission applications for use with personal digital assistants
(PDAs), intelligent data collection terminals that the Company manufactures and
interactive voice response and biometrics for employee identification.

The Company's systems are designed for a wide range of businesses, which can
include everything from single-site companies to large, multi-site enterprises.
These solutions can be purchased or financed from Kronos, or they can be
obtained on a subscription basis via Kronos' application service provider
delivery model.

The company's ERM solution can operate independently in a desktop environment,
or it can be interfaced with related applications and technologies at many
points throughout the enterprise to optimize the use of labor resources. In
addition, the Company maintains an extensive services and technical support
organization that maintains systems and provides professional and educational
services. These services can be delivered on-site or via the Web.

The Company also collaborates with many industry-leading vendors who market
products and services that are synergistic with Kronos solutions. These include
major enterprise resource planning system (ERP) providers; manufacturing
execution system (MES) providers; human resources, finance, scheduling, and
payroll application providers; and consulting and systems integration firms. To
date, substantially all of the Company's revenues and profits have been derived
from its time and labor applications and related products and services. The
Company introduced its human resources and payroll products during the course of
fiscal 2002 and 2003.

Stock Split in the Form of 50% Common Stock Dividend
----------------------------------------------------

On September 26, 2003, the Board of Directors declared a three-for-two split of
the Company's common stock, payable on October 31, 2003 to all stockholders of
record as of the close of business on October 20, 2003. The stock split was
effected in the form of a 50% common stock dividend. All share and per share
amounts in this Annual Report on Form 10-K have been restated to reflect the
retroactive effect of the stock split.

Kronos Products

The Kronos Employee Relationship Management Solution
The Kronos ERM solution enables organizations to reduce costs and increase
productivity, improve employee satisfaction, align employee performance with
organizational objectives and put real-time information in the hands of decision
makers.

Kronos' ERM solution consists of the following components: human resources,
payroll, scheduling, time and labor, data collection and self-service, as well
as analytics. These components can be deployed together or independently to meet
the unique needs of various organizations.

The Workforce Central(R) Suite

Using Web-based technology, the Workforce Central suite is a closely integrated
system of human resources, payroll, scheduling and time and labor applications.
It can be deployed individually or as a comprehensive solution for employee
relationship management. The Workforce Central suite incorporates powerful
applications for analytics and employee self-service, and employs a broad range
of Kronos' own industry-leading data collection devices. Each component of the
Workforce Central suite provides unmatched functionality, streamlined workflow
technology, and an intuitive user interface.

The Workforce Central solutions include:

Human resources

Workforce HR(TM) manages and automates human resources processes, from
recruiting to benefits administration, so that organizations have more time
to focus on strategic initiatives. Because it empowers employees to manage
their own personal information, Workforce HR reduces operational expenses
while it fosters employee satisfaction compared to a manual system. It
provides superior control over critical processes and enables real-time
sharing of employee information, all of which contributes to better
decision-making and improved organizational performance.


Workforce Recruiter(TM) is a Web-based recruiting application designed to
help identify qualified candidates faster, more efficiently, and more
cost-effectively. It enables organizations to automate the sourcing,
management, and hiring of job candidates, and reduces time and costs to
hire, while it helps them focus on the organization's strategic goals.

Payroll
Workforce Payroll(TM) manages all of the complex information required to
administer and complete payment of wages, bonuses, and other forms of
compensation. With streamlined payroll processing in house, organizations
will enjoy more flexibility and control, with quick and easy access to the
critical data an organization needs.

Workforce Tax Filing(TM) is a cost-effective solution to managing payroll
tax filing activities without the resource demands that weigh heavily on
productivity. Workforce Tax Filing is backed by Federal Liaison Services,
Inc., or FLS, a compliance leader with more than 15 years of experience in
managing payroll tax filing for more than 5,000 customers.

Scheduling
Workforce Smart Scheduler(TM) is an expanded employee scheduling solution
for retailers. Based on a history of key business drivers derived from a
point-of-sale system, Workforce Smart Scheduler forecasts expected
business, then translates that forecast into required staffing levels
according to pre-determined labor standards. Workforce Smart Scheduler is
designed to match the best employees to an organization's required staffing
based on availability, skills, and preferences, freeing managers from the
burden of processing schedules and enhancing productivity at minimum cost.

Workforce Scheduler(TM) is a powerful, all-in-one solution to an
organization's scheduling challenges. It provides the tools managers need
to plan staff coverage -- by shift, by employee, or by job description --
and react with speed and effectiveness when unforeseen circumstances put
productivity at risk. This product is planned for release during the second
fiscal quarter of fiscal 2004.

Time and labor
Workforce Timekeeper(TM) automates and streamlines the management,
collection, and distribution of employee hours, eliminating the need for
manual timesheets. Workforce Timekeeper has a robust, flexible pay rules
engine that applies complex work and pay rules accurately and consistently
throughout an organization.

Workforce Accruals(R) provides a tightly integrated module for controlling
leave liability and complying with corporate policies or contracts. It is
designed to ensure accuracy across an organization with minimal
supervision, enabling employees and managers to manage leave time easily
and efficiently. Workforce Accruals has the flexibility to facilitate an
organization's most complex leave and benefit policies.

Workforce Record Manager(TM) makes maintaining Workforce Timekeeper
database faster, easier, and more effective. It enables IT managers to
easily move data from one Workforce Timekeeper database to another, and
provides the functionality needed to create archiving processes.

Workforce Activities(TM) enables real-time tracking of activity data for
individual employees and teams. It reconciles direct and indirect labor to
time paid, and enables an organization to compare productivity against
standards. Workforce Activities also eliminates the process of manually
entering job-costing data into ERP systems. Going beyond weekly or daily
reporting, Workforce Activities provides up-to-the-minute information so
that managers can adjust to the shifting demands of a production
environment. This product is planned for release during the second fiscal
quarter of fiscal 2004.

Data collection
Kronos 4500(TM) badge terminals are high speed, network-centric data
collection devices that capture and manage labor data easily and
effectively. The Kronos 4500 terminals provide access to key self-service
functionality, and their centralized configuration makes them easy to
deploy and maintain. The Kronos 4500 terminals are designed with "swipe and
go" badge functionality and keypads for fast interaction.

Kronos 4500(TM) Touch ID terminal, like the Kronos 4500 badge terminal, is
a high speed, network-centric data collection device that captures and
manages labor data easily and effectively. The Kronos 4500 Touch ID
terminal incorporates leading fingerprint verification technology, ideal
for eliminating "buddy punching."

Workforce TeleTime(R) leverages the convenience and accessibility of the
telephone to collect time and labor information from employees on the move.
Workforce TeleTime provides a solution for these employees and managers,
whether they telecommute, work in multiple facilities, travel frequently,
or otherwise don't have access to a data collection terminal or the Web.
These employees can use this interactive touchtone application for a range
of time and labor transactions, all completed through the telephone.

Workforce MobileTime(TM) allows users to record and transmit labor
information via personal digital assistants (PDAs), ideal for the mobile
employees who routinely work away from the office or move from job site to
job site during a workday. It supports reliable data collection when
working offline, and is designed for overall ease of use -- no PC
experience is required.

Self-service
Workforce Employee(TM) is an intuitive, browser-based interface that
employees can use to enter time and labor data and access human resources
and payroll information and processes. It allows them to view hours worked,
approve timecards, or even sign up for available shifts. Workforce Employee
also provides convenient Web access to a breadth of human resources
information, including available training, job openings, and benefits
enrollment.

Workforce Manager(TM) is designed to be a significant time saver in that it
alerts managers to the issues that require immediate attention, such as an
employee approaching an overtime threshold. Workforce Manager provides
managers with broad visibility into their staff, including skills,
experience, and completed training, all of which is essential to helping
them optimize the workforce.

Analytics
Workforce Decisions(R) is a complete analytics application that extends the
value of labor data captured by our Kronos time and labor systems,
providing managers with a method for tracking workforce performance against
business targets.

Visionware(R) is a labor analytics system for organizations in industries
such as healthcare, where controlling labor costs is a significant
challenge. Visionware enables organizations to manage productivity, reduce
labor costs, and most importantly, align labor decisions with strategic
objectives.

The Kronos iSeries Central suite

The Kronos iSeries Central suite is comprised of time and labor applications
designed specifically for the IBM eServer iSeries. The Kronos iSeries Central
suite automates time and labor management processes on the frontline and
provides access to real-time data for better decision-making. It employs a broad
range of Kronos' own industry-leading data collection devices.

Kronos iSeries Central product solutions include:

Kronos iSeries Timekeeper is designed to automate and streamline the
management, collection, and distribution of employee hours, eliminating the
need for manual timesheets.

Kronos iSeries Accruals is a tightly integrated module designed to manage
leave liability and complying with corporate policies or contracts.

Kronos iSeries Attendance is designed to allow an organization to automate
a no-fault attendance program by capturing lost time exceptions and
absences.

Kronos iSeries Shopfloor is designed to put an organization in control of
manufacturing operations by capturing time, labor, and throughput at every
stage of the production process and reconciling it with time and attendance
in Kronos iSeries Timekeeper.

Kronos iSeries Decisions is designed to provide sophisticated reporting
capabilities that extend the value of employee data to decision makers
throughout an organization.

Kronos iSeries Access and Gatekeeper(R) terminals are an integrated
solution designed to manage employee admittance into controlled areas in
any facility.

Kronos iSeries interface is a host of interfaces tailored specifically for
a system, designed to interact with payroll, human resources, and
manufacturing systems.

The Timekeeper Central(R) system

The Timekeeper Central(R) system is an advanced time and attendance system for
small and medium sized companies deploying on a site by site basis. It is
designed to automate the capture, management, and distribution of critical
employee labor data. The Timekeeper Central system runs on Windows and Citrix
platforms. It eliminates the need for manual timesheets and helps ensure an
organization's ability to produce an accurate payroll, measure variations in
labor productivity, and administer time-related benefits.

Timekeeper Central software modules include a:

Scheduling module designed to speed the process of creating and assigning
employee schedules.

Accruals module designed to ensure consistent benefit time administration.

CardSaver(R) module designed to store individual punch history data for
easy retrieval.

Archive module designed to store historical work totals for easy retrieval.

Database Poster designed to export time and attendance data to other
software applications.

Messaging module designed to download messages to employee terminals.

Complementary products

In addition to our core products, Kronos offers a variety of solutions designed
to help maximize ERM capabilities.

Data collection devices from Kronos provide powerful and convenient methods
for capturing employees' time and labor information, and offer a wide range
of interaction methods: badge terminals, biometrics, telephony, handheld
devices, and more.

Workforce Connect(TM) is an integration solution that reduces delays and
modification costs. Data can be imported and exported quickly and easily
from a variety of sources. It supports over 250 payroll systems and other
essential integration needs.

Gatekeeper(R) provides a method to control and track access to areas of an
organization that require monitoring.

NexTrak Attendance Management(TM) software automates almost any attendance
program. It allows organizations to efficiently manage employee attendance
and reduce absenteeism.

NexTrak Leave Management(TM) software automates the process of managing and
tracking earned employee leave time.

ShopTrac Pro(R) helps to control manufacturing operations by capturing
time, labor, and throughput at every stage of the production process.

Kronos e-Central(TM) is a time and labor solution in a completely hosted
ASP service model.

Services and Support

Kronos maintains an extensive professional service and technical support
organization that provides a suite of maintenance, professional and educational
services. These services are designed to support the Company's customers
throughout the product life cycle. Maintenance service options are delivered
through the Company's centralized Global Support operation or through local
service personnel. The Company also provides a wide range of customer
self-service options through the Internet. The Company's professional services
include implementation support, technical and business consulting as well as
system integration and optimization. The Company's educational services offer a
full range of curriculae that are delivered through local training centers or
via computer based training courses.

Competition

The ERM market, which includes time and labor, scheduling, human resources
and payroll, is highly competitive. Technological changes such as those allowing
for increased use of the Internet have resulted in new entrants into the market.
Increased competition could adversely affect Kronos' operating results through
price reductions and/or loss of market share. With Kronos' efforts to expand its
labor management offering with the recent introduction of its human resources
and payroll product suite, Kronos will continue to meet strong competition. Many
of these competitors may be able to adapt more quickly to new or emerging
technologies or to devote greater resources to the promotion and sale of their
human resources and payroll products. Many of Kronos' human resources and
payroll competitors have significantly greater financial, technical and sales
and marketing resources than Kronos, as well as more experience in delivering
human resources and payroll solutions. Although Kronos believes it has core
competencies that position it strongly in the marketplace, maintaining Kronos'
technological and other advantages over competitors will require continued
investment by Kronos in research and development and marketing and sales
programs. There can be no assurance that Kronos will have sufficient resources
to make such investments or be able to achieve the technological advances
necessary to maintain its competitive advantages. There can be no assurance that
Kronos will be able to compete successfully in the human resources and payroll
marketplace, and its failure to do so could have a material adverse impact upon
its business, prospects, financial condition and operating results.
 

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