We had the opportunity to attend Kronos' yearly user conference, Kronos Works, held from November 4th till 7th 2018 in Las Vegas at the Aria Resort. Attendance was similar like the year before with 3k+, usual influencer presence.
Prefer to watch – here is my event video … (if the video doesn't' show up – check here)
Here is the 1 slide condensation (if the slide doesn't show up, check here):
Want to read on? Here you go:
Kronos is doing really well – The vendor has record results and is doing well. That is remarkable, as it just has created a new product on a new platform and is moving customers towards it… while making the bulk of revenue on the old platform, that the vendor still supports. A 'dance' few vendors manage to dance without a revenue dip, so remarkable and kudos to the Kronos team.
Kronos is in HCM – For the longest time, Kronos has played the role of 'Switzerland' when it came to HCM vendors, providing them with Time and Attendance as well as Workforce Management capabilities. That has worked well for Kronos, who has become the proverbial "800-pound gorilla" in Workforce Management. With Kronos now competing, it will be interesting how the HCM vendors will react. Lack of good workforce management solutions that are standalone and customer install base are all key factors helping Kronos at the moment.
Aimee is Kronos' AI assistant – Somewhat late, but better late than never, Kronos unveiled Aimee, it's AI assistant. She will debut in 2019 and help people with 4 AI uses cases, that are the typical initial load of vendors getting started.
Workforce Dimensions has good traction – Launched last year, Kronos new flagship product suite, Workforce Dimensions is doing well, and has now 220 customers, fewer live, more implementing… for the count being at 10 implementing 12 months ago – that's very good progress.
Maintenance ROI – The key for Kronos doing well overall is that it keeps creating value for the customers on Workforce Central and Workforce Now. Taking a cue from the Oracle Apps Unlimited strategy (former Oracle executive Ron Wohl is an advisor) – Kronos is providing a rich roadmap for Kronos customers on the existing, older products. This takes the typical upgrade pressure out of the process and allows customer to upgrade at their own schedule, while not being 'stranded' on an old solution that see no longer advancement (as often the case in the enterprise software industry.
MyPOVKronos is doing well and is on a roll. The verdict on the HCM move is still out, but it was a logical step that Kronos had to take – to keep growing. CEO Ain negated the intention long enough, but now more than the writing is on the wall. Kronos customers like the move in general… they know that workforce management is key and usually most complex piece in their HCM automation puzzle… so it is relatively easy to expand into HR Core and Payroll… Roadmaps are rich, and customers are excited on what is to come… always an advantageous position for any vendor to be in.
On the concern side, Kronos needs to accelerate on the AI side, it is relatively late with Aimee and it needs to come up with a voice driven UI, which is key for end users. That is all not too far away for Kronos, but it needs to happen. Moving from Workforce Management to HCM means that vendors cannot hide under the complexity and compliance blanket but must show some style and appeal to motivate users… and we are not even talking Talent Management here. Kronos also needs to get their buying center to step up inside the HR buying center, quite a change for the current Kronos supporters.
But overall an impressive event, Kronos is on a roll, partners are interested, users energized. Interesting 12 months to come. Stay tuned.
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