Kronos Payroll & HR Software Strengths & Weaknesses
Kronos’ competitive positioning in the payroll and HR software market can be summarized by highlighting the following strengths and weaknesses.
Kronos Workforce Central Software Strengths
- With Hellman & Friedman behind the company, Kronos has potential access to significant financial resources for both the survival of hard times and ongoing Research and Development (R&D).
- Kronos' strategy for developing their solution out of a self-service hub is an industry first that could have major implications for HR "system of record" functionality market wide.
- Kronos has achieved significant market penetration globally with recent successes in India and China (40 and 60 customers respectively). The company now looks to assertively expand its international presence.
- Kronos can leverage subject matter expertise in specific industry verticals, particularly in the retail and healthcare industries.
- Drag and drop capabilities make custom reporting simple for non-technical users. More advanced reporting – e.g. data marts and OLAP – allows multi-dimensional analysis and data modeling.
- The broad and established Kronos customer base permits the company to draw upon an extensive variety of customer input (which the company openly solicits) that can steer Kronos' solutions towards solving real-world business problems.
Kronos Workforce Central Software Weaknesses
- Kronos’ international presence will always be restricted as long as Workforce Payroll (and HR) is only available in the English language.
- Although time and attendance functionality is accessible via mobile devices, the same cannot be said for most payroll and HR options. Additional functionalities are being introduced more rapidly now though; which could easily move this statement into the “strengths” column soon.
- As a web-based solution, Workforce Payroll requires internet connectivity for data access – offline capabilities are not available.
- Being Microsoft-based, browser support is limited to Internet Explorer.
- Kronos’ marketing focus still rests on its workforce management software.
- Though a problem that is certainly more talent management-centric in nature, Kronos Workforce Payroll and Workforce HR does not connect directly with social media tools. As such, it would appear that the company is missing some of the broader implications of social media outside of the talent acquisition process.
Next - Kronos Best Fit and HR Competitors >>