Cloud platform helps Kronos post record FY'13 revenues

07 Nov '13
2 min read

Kronos Incorporated announced financial results, company advancements, and customer successes for Fiscal 2013 which closed Sept. 30. Kronos revenues for the fiscal year increased 10 percent to a record $975 million. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased 17 percent to a record $314 million.

"Kronos had an exceptional Fiscal 2013. We achieved this exciting growth in revenue and profits while transitioning our business to the cloud and executing a highly ambitious and innovative set of product development initiatives. The proliferation of cloud computing is driving outstanding momentum for Kronos, best demonstrated by a 51 percent year-over-year increase in workforce management cloud revenue.

"Product advancements and cloud adoption - as well as explosive expansion in the SMB market and an ever-increasing global footprint - are significant contributors to our growth," said Aron Ain, Kronos chief executive officer. "As we approach $1 billion in annual revenue, Kronos is well positioned for continued strong growth as the undisputed leader and pace-setter in the global workforce management market."

Fiscal 2013 News Facts

Growth of the Kronos Cloud - Kronos workforce management cloud revenue increased 51 percent. Kronos added thousands of Kronos Cloud customers, as new customers deploy in the cloud and existing customers move their on-premise instances to the cloud to achieve the vast benefits associated with cloud computing.

Deploying in the Kronos Cloud generates a fast return on investment and eliminates the need to invest in and manage IT infrastructure and staff while continuing to reap the rich benefits of the Kronos solution. Kronos continues to aggressively invest in its cloud infrastructure in anticipation of even more rapid growth as organizations continue to embrace the tangible benefits of cloud computing. Today more than 9,000 organizations are running in the Kronos Cloud.

Growth Through Product Innovation - Kronos product bookings increased a remarkable 16 percent. Kronos delivered an unprecedented level of innovative new products and enhancements which are transforming the way organizations manage their workforces:

Workforce Central 7 - A groundbreaking release designed to make workforce management easier than ever. Already recognized as the industry's most intuitive workforce management solution, Workforce Central 7 expands on the unrivaled Kronos user experience and delivers hundreds of enhancements to further simplify the day-to-day lives of managers and employees. Workforce Central 7 brings ease to managing in the moment, scheduling, labor costing, and global deployments.

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