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Ventana Research today released its 2019 Value Index for Workforce Management, a quantified, research-based index evaluating technology providers and products. This Value Index assesses product adequacy based on the functional requirements and capabilities of our workforce management blueprint, which reflects what every RFI/RFP should include in an evaluation. The Workforce Management blueprint includes forecasting and scheduling, absence management, activity and task management, time and attendance, labor and workforce analytics, time clock and payroll integrations, and mobile and collaboration support across executives, managers, analysts and operations supporting the administration of the workforce and the workers themselves.
Using the Value Index, businesses can mitigate risk and reduce the time it takes to assess and select workforce management software. Ventana Research's Value Indexes are the result of decades of experience and over 16 years of research and knowledge of the market for workforce management software. It provides an in-depth analysis of technology suppliers' products, evaluating their strengths and gaps compared to competitors’ products.
The Value Index for Workforce Management is based on a comprehensive examination of 13 vendors' products in seven evaluation categories, five that evaluate the products' ability to support the breadth and depth of business needs around WFM and two that address vendor validation and total cost of ownership/return on investment.
The 2019 Value Index for Workforce Management identifies the companies that deliver the highest value based on an overall weighted evaluation. The Overall Value Index Leaders in the 2019 Value Index are Kronos, WorkForce Software and Ceridian. Companies that score in the top three in any category earn the designation Value Index Leader; Ceridian has done so in five of the seven categories; WorkForce Software is a Value Index Leader in four categories; Kronos is a Value Index Leader in three categories; and Oracle and SAP SuccessFactors in two categories. The Value Index leaders for overall product across five categories are Ceridian, Kronos and SAP SuccessFactors. Leaders in customer assurance across two categories are WorkForce Software, ADP and Ultimate Software. Criteria for inclusion in the Value Index include minimum annual revenue, geographic operations and product areas of support for workforce management, which are outlined in more detail within the report.
The Value Index is not just a listing of vendors or a selection of “cool” products; rather than evaluating a vendor primarily on its vision or market execution, the Value Index provides specific numerical ratings, both overall and for each of the seven components of the Value Index, for technology buyers to consider. Organizations can also use the Value Index as a guide to assess existing technology providers and determine if their provider best meets their needs today and in the future.
“To manage workers effectively while providing them the best possible work experience, employers are looking to ensure that employees are effectively engaged and can account for their time while easily accessing information related to their pay, benefits, time off, company policies and improving their knowledge and skills,” said Steve Goldberg, VP and Research Director at Ventana Research. “But beyond providing more ease-of-use, modern workforce management can ensure that resources and skills that are deployed in the right place at the right time can help organizations effectively satisfy customers while meeting business objectives.”
The Workforce Management Value Index is neither sponsored nor influenced by technology vendors and is conducted solely in pursuit of Ventana Research's mission to provide value to business and IT through advisory services, benchmark assessments and workshops. Ventana Research's goal is to help guide organizations to optimal efficiency in their use of technology investments for business and IT. To learn more and read the market report of the 2019 Value Index for Workforce Management, please visit www.ventanaresearch.com/value_index/human_capital_management/workforce_management/market_report/2019
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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