Kronos Acquires ClarityMatters
Chelmsford, MA – April 27, 2006 – Recognizing the growing role of business intelligence in managing the workforce, Kronos(R) Incorporated (Nasdaq: KRON) today announced that it has acquired privately held ClarityMatters, Inc., a workforce analytics solution provider and business analytics consulting firm. Under the terms of the agreement, Kronos acquired ClarityMatters in a cash purchase transaction. The amount of the transaction was not disclosed.
“Acquiring ClarityMatters accelerates Kronos’ ability to further extend our workforce analytics vision,” said Aron Ain, Kronos chief executive officer. “Our vision is to deliver powerful analytics tools that provide unique insight into utilization of the workforce relative to corporate objectives –empowering organizations to more effectively manage the workforce.”
This acquisition extends Kronos’ leadership in workforce management by addressing a segment of the market that has been underserved by business intelligence vendors and other workforce management players. Together, Kronos and ClarityMatters combine best-in-class business intelligence tools with deep workforce management expertise to deliver the most powerful workforce analytics solution available.
As a result of the acquisition, Kronos has gained a wealth of business intelligence domain expertise spanning product development and professional services as well as business intelligence consulting. Acquiring ClarityMatters also extends the value of Kronos solutions by gaining a proven workforce analytics product for customers who desire unique insight into their data to make better business decisions related to the workforce.
Introducing Workforce Analytics(TM)
The ClarityMatters workforce analytics solution will soon be available as Workforce Analytics(TM), a fully integrated application within Kronos’ Workforce Central(R) suite. At the point of decision, Workforce Analytics provides the tools, visibility, and accountability needed to enable managers at all levels of an organization to make better workforce decisions aligned with business goals. This results in reduced labor costs, increased productivity, and ultimately improved business performance.
Workforce Analytics helps organizations incorporate information from all functional areas — not just from human resources — as well as information external to the organizations. Providing a library of more than 150 workforce key performance indicators, powerful dashboards, and multi-dimensional analysis tools, Workforce Analytics provides a 360-degree view of the workforce. This results in an organization’s ability to take decisive action based on increased visibility into real-time labor performance and trends.
Workforce Analytics gives Kronos customers insight into business performance in areas such as per production labor costs, cost per labor hour, time paid but not worked, cost of absenteeism, business volume demand versus labor needs, and assessment of excessive overtime usage.
Gary Giles, founder and former chief executive officer of Atlanta-based ClarityMatters, commented, “ClarityMatters, recognized for its depth of expertise in business intelligence and custom consulting engagements, and Kronos, the market- and thought-leader in workforce management, have created a powerful combination of forces to address the market’s workforce analytics needs.”
ClarityMatters had been a certified Kronos partner since 2004, during which time the company developed a robust workforce analytics solution specifically designed to integrate with Kronos’ Workforce Central suite. The proven analytics solution has already been adopted by Kronos customers such as Army and Air Force Exchange Services (AAFES), Texoma Medical Center, and Towncare Dental.
Randy Grigg, Managing Director with DecisionPoint International, served as an advisor to ClarityMatters on the transaction.
About Kronos Incorporated
Kronos Incorporated is the most trusted name in workforce management. Kronos helps organizations staff, develop, deploy, track, and reward their workforce, resulting in reduced costs, increased productivity, better decision-making, improved employee satisfaction, and alignment with organizational objectives. More than 20 million people use a Kronos solution every day. Learn more about Kronos’ high-impact enterprise solutions at www.kronos.com.
(C) 2006 Kronos Incorporated. Kronos, Workforce Central, and the Kronos logo are registered trademarks and Workforce Analytics is a trademark of Kronos Incorporated or a related company. All other product and company names mentioned are used for identification purposes only and may be trademarks of their respective owners.