CHELMSFORD, Mass.--(BUSINESS WIRE)--April 14, 2004-- Kronos Estimates That Labor Analytics Customers Have Collectively Saved More Than $1 Billion in Labor Costs
As the economic recovery gains momentum, organizations are investing in proven solutions that provide concrete ROI in an aggressive timeframe. Many organizations are implementing solutions from Kronos(R) Incorporated (Nasdaq: KRON) because of its proven track record and ability to help organizations manage costs and increase productivity. The Kronos labor analytics solution, Visionware(R), already used by more than 700 organizations to match labor hours with work volume, is experiencing increasing demand from organizations focused on reducing costs and driving productivity.
"Kronos' Visionware solution helped heighten our management team's awareness of the importance of labor control," said Mike Bernstein, chief financial officer at Valley Medical Center. "As a result, we reduced premium labor pay by $400,000 and improved labor productivity by $1.8 million in the first year with Visionware."
"Analytics applications have been talked about for years, but they have not been known to deliver the promised results. Visionware is different because it is a focused solution that provides detailed labor information, which drives actions and produces unparalleled results. We estimate that collectively, our Visionware customers have saved more than $1 billion in labor costs by implementing the solution to effectively manage the workforce," said Michael DiPietro, vice president of product marketing and strategic alliances at Kronos. "As organizations rebound from the economic downturn, investing in a learn this here now labor analytics solution can help contribute to the recovery process."
Users experience optimal results when they integrate labor analytics with their time and labor solution. "We had an initiative to manage escalating labor costs which were rising due to a reliance on overtime and agency workers. We needed a solution that would help us manage our budget challenges. We overcame those challenges with the powerful combination of Kronos' labor analytics and time and labor solutions," said Richard Bagby, chief information officer at Pinnacle Health System. "In 2002, we had a deficit of more than $17 million and in just one year we had a gain of $1 million. The integration between Visionware and Kronos' time and labor solution allowed us to maximize our investment in the project."
In today's highly competitive marketplace, healthcare providers are experiencing increased strain to deliver high quality patient care while managing escalating labor costs and fluctuating volume. "It is a constant battle to balance both employee and patient needs while controlling labor costs," said Ron Fahrenbruch, business analyst at St. John's Regional. "But with Visionware we were able to save more than $2 million, and most importantly, patient satisfaction scores have reached a five-year high."
The next version of Visionware will be released in May. The new version combines Kronos' workforce click management experience, more than two decades of product development success, and a significant amount of customer feedback. The latest version offers Variance Improvement Planning (VIP) functionality, which identifies key business performance issues, develops a plan of action, and maintains accountability throughout an organization.
Visionware, with click this link now its focus on managing labor costs and labor to volume is helping organizations in industries such as education, government, healthcare, manufacturing, and retail to reach key business objectives. For more information regarding Kronos solutions call (800) 225-1561.
About Kronos Incorporated
Kronos Incorporated is a single-source provider of human resources, payroll, scheduling, and time and labor solutions. Kronos' best-in-class Employee Relationship Management solution enables organizations to reduce costs and increase productivity, put real-time information in the hands of decision makers, align employee performance with organizational objectives, and improve employee satisfaction. More than 40,000 organizations trust Kronos to solve their employee-centric business challenges. Learn more at www.kronos.com.
(C) 2004 Kronos Incorporated. Kronos, Visionware, and the Kronos logo are registered trademarks 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.
As the economic recovery gains momentum, organizations are investing in proven solutions that provide concrete ROI in an aggressive timeframe. Many organizations are implementing solutions from Kronos(R) Incorporated (Nasdaq: KRON) because of its proven track record and ability to help organizations manage costs and increase productivity. The Kronos labor analytics solution, Visionware(R), already used by more than 700 organizations to match labor hours with work volume, is experiencing increasing demand from organizations focused on reducing costs and driving productivity.
"Kronos' Visionware solution helped heighten our management team's awareness of the importance of labor control," said Mike Bernstein, chief financial officer at Valley Medical Center. "As a result, we reduced premium labor pay by $400,000 and improved labor productivity by $1.8 million in the first year with Visionware."
"Analytics applications have been talked about for years, but they have not been known to deliver the promised results. Visionware is different because it is a focused solution that provides detailed labor information, which drives actions and produces unparalleled results. We estimate that collectively, our Visionware customers have saved more than $1 billion in labor costs by implementing the solution to effectively manage the workforce," said Michael DiPietro, vice president of product marketing and strategic alliances at Kronos. "As organizations rebound from the economic downturn, investing in a learn this here now labor analytics solution can help contribute to the recovery process."
Users experience optimal results when they integrate labor analytics with their time and labor solution. "We had an initiative to manage escalating labor costs which were rising due to a reliance on overtime and agency workers. We needed a solution that would help us manage our budget challenges. We overcame those challenges with the powerful combination of Kronos' labor analytics and time and labor solutions," said Richard Bagby, chief information officer at Pinnacle Health System. "In 2002, we had a deficit of more than $17 million and in just one year we had a gain of $1 million. The integration between Visionware and Kronos' time and labor solution allowed us to maximize our investment in the project."
In today's highly competitive marketplace, healthcare providers are experiencing increased strain to deliver high quality patient care while managing escalating labor costs and fluctuating volume. "It is a constant battle to balance both employee and patient needs while controlling labor costs," said Ron Fahrenbruch, business analyst at St. John's Regional. "But with Visionware we were able to save more than $2 million, and most importantly, patient satisfaction scores have reached a five-year high."
The next version of Visionware will be released in May. The new version combines Kronos' workforce click management experience, more than two decades of product development success, and a significant amount of customer feedback. The latest version offers Variance Improvement Planning (VIP) functionality, which identifies key business performance issues, develops a plan of action, and maintains accountability throughout an organization.
Visionware, with click this link now its focus on managing labor costs and labor to volume is helping organizations in industries such as education, government, healthcare, manufacturing, and retail to reach key business objectives. For more information regarding Kronos solutions call (800) 225-1561.
About Kronos Incorporated
Kronos Incorporated is a single-source provider of human resources, payroll, scheduling, and time and labor solutions. Kronos' best-in-class Employee Relationship Management solution enables organizations to reduce costs and increase productivity, put real-time information in the hands of decision makers, align employee performance with organizational objectives, and improve employee satisfaction. More than 40,000 organizations trust Kronos to solve their employee-centric business challenges. Learn more at www.kronos.com.
(C) 2004 Kronos Incorporated. Kronos, Visionware, and the Kronos logo are registered trademarks 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.