Dayforce

Last updated

Dayforce, Inc.
FormerlyCeridian HCM Holding Inc.
Company type Public
IndustrySaaS HCM Software
Predecessor Control Data Corporation
Founded1992;33 years ago (1992)
Headquarters Minneapolis, Minnesota, U.S.
Key people
David Ossip (CEO)
RevenueIncrease2.svg US$1.51 billion (2023)
Increase2.svg US$133 million (2023)
Increase2.svg US$54.8 million (2023)
Total assets Increase2.svg US$9.01 billion (2023)
Total equity Increase2.svg US$2.40 billion (2023)
Number of employees
9,084 (2023)
Website dayforce.com
Footnotes /references
[1]

Dayforce, Inc., formerly Ceridian, is a provider of human resources software and services with employees across its global footprint in the United States, Canada, Europe, Middle East, Latinamerica, Africa (EMEA), and the Asia Pacific Japan (APJ) region. It is a publicly traded company on the New York Stock Exchange and Toronto Stock Exchange.

Contents

Dayforce is also the name of the company's cloud Human Capital Management (HCM) platform, which covers the full suite of human capital management software, including payroll, tax filing, benefits, HR, talent intelligence, workforce management, and recruiting technology. [2]

History

Dayforce, formerly Ceridian, [3] is a descendant of Control Data Corporation (CDC). In 1992, Ceridian Corporation was founded as an information services company from the restructuring of CDC, a computer services and manufacturing company founded in 1957. [4] [5] The computer product business was spun-off as Control Data Systems (CDS) and took the Control Data name.

In March 2001, Ceridian was split into two independent companies, with the "old" Ceridian Corporation changed its name to Arbitron and the rest of company (consisting of human resources services and Comdata business) took the Ceridian name. [6]

In 2007, Ceridian was acquired for $5.3 billion USD by Thomas H. Lee Partners and Fidelity National Financial (FNF). [7] Ceridian common stock ceased trading on the NYSE before commencement of trading on November 9, 2007 and was delisted from the NYSE. [8]

In March 2012, Ceridian completed its acquisition of Dayforce, a single SaaS application for HR, payroll, tax, benefits, workforce management, talent management and several related activities. [9] In October 2013, Ceridian announced the legal separation of its Human Capital Management and payments businesses. [10] Ceridian completed the separation on October 1, 2013 through a series of transactions, which resulted in the payments business being operated as Comdata Inc. (“Comdata”), and the HCM business being operated as Ceridian HCM Holding Inc. (“Ceridian HCM”). [11]

In April 2018, Ceridian went public in an initial offering that raised over $400 million. [12] [13]

In September 2019, Ceridian acquired Australia-based enterprise workforce management solutions provider Riteq. [14]

In April 2020, Ceridian acquired an Asian HCM (Excelity Global Solutions). [15]

On March 1, 2021, Ceridian completed the acquisition of Ascender HCM. [16]

On December 3, 2021, Ceridian acquired the US-based ADAM Human Capital Management which was a leading provider of payroll and HCM software and services for 33 countries in the Latin American, Brazilian, and Caribbean markets. [17]

On February 1, 2024, Ceridian transitioned the company’s brand to Dayforce [18] and its ticker symbol to DAY on the New York Stock Exchange and Toronto Stock Exchange. [19] This replaced the company’s previous ticker symbol, CDAY, which had been in use since the company’s initial public offering in 2018.

Leadership

Related Research Articles

<span class="mw-page-title-main">Asure Software</span> Software company

Asure Software, Inc. is a software company. Prior to September 13, 2007, the company was known as Forgent Networks. After rebranding as Asure Software, the company expanded into offering human capital management (HCM) solutions, including payroll, time & attendance, talent management, human resource management, benefits administration and insurance services.

<span class="mw-page-title-main">ADP (company)</span> American software company

Automatic Data Processing, Inc. (ADP) is an American provider of human resources management software and services, headquartered in Roseland, New Jersey.

<span class="mw-page-title-main">8x8</span> American provider of voice over IP products

8x8, Inc. is an American provider of Voice over IP products. Its products include cloud-based voice, contact center, video, mobile and unified communications for businesses. Since 2018, 8x8 manages Jitsi.

<span class="mw-page-title-main">Ramco Systems</span> Indian IT Services company

Ramco Systems Limited is an Indian multinational enterprise software product & platform provider. Founded in 1997, it is a part of the Ramco Group, and is headquartered in Chennai, Tamil Nadu, India.

Oracle Applications comprise the applications software or business software of the Oracle Corporation both in the cloud and on-premises. The term refers to the non-database and non-middleware parts. The suite of applications includes enterprise resource planning, enterprise performance management, supply chain & manufacturing, human capital management, and advertising and customer experience.

Visma (acronym for Visual management) is a privately held company headquartered in Oslo, Norway, that provides cloud accounting, payroll, invoicing, and HR business software products. The majority of the company is owned by HgCapital, a private equity firm.

Heartland Payment Systems, Inc. is a U.S.-based payment processing and technology provider. Founded in 1997, Heartland Payment Systems' last headquarters were in Princeton, New Jersey. The company was acquired by Global Payments for $4.3 billion in 2016.

Epicor Software Corporation is a business software company based in Austin, Texas founded in 1972. Its products are aimed at the manufacturing, distribution, retail and services industries.

<span class="mw-page-title-main">Workday, Inc.</span> American software company

Workday, Inc., is an American on‑demand (cloud-based) financial management, human capital management, and student information system software vendor. Workday was founded by David Duffield, founder and former CEO of ERP company PeopleSoft, along with former PeopleSoft chief strategist Aneel Bhusri, following Oracle's acquisition of PeopleSoft in 2005.

Mercer is an American consulting firm founded in 1945. It is one of the four operating subsidiaries of global professional services firm Marsh McLennan. Mercer is headquartered in New York City with offices in 43 countries and operations in 130 countries. The company primarily provides human resources and financial services consulting services to its clients.

A talent management system (TMS) is an integrated software suite that addresses the "four pillars" of talent management: recruitment; performance management; learning and development; and compensation management.

<span class="mw-page-title-main">SAP SuccessFactors</span> Software product

SAP SuccessFactors is an American multinational company headquartered in South San Francisco, California, providing cloud-based software for human capital management using the software as a service (SaaS) model.

<span class="mw-page-title-main">Ultimate Software</span> Former American multinational technology company

Ultimate Software was an American multinational technology company that developed and sold UltiPro, a cloud-based human capital management (HCM) software system for businesses. Headquartered in Weston, Florida, the company was founded in 1990 by Scott Scherr, and it released its first version of software in 1993. As of the fourth quarter in 2017, Ultimate Software reported total revenues of over $940.7 million. As of 2017, the company employs more than 5,000 people and services 4,100 customers in 160 countries. Ultimate had offices around the U.S., Canada, UK, and Singapore. On February 4, 2019, Hellman & Friedman Capital Partners announced it would purchase Ultimate Software Group for $11 billion; the purchase closed on May 3, 2019.

SumTotal Systems, Inc. is a software company based in Gainesville, Florida, that provides human resource management software and services to private and public sector organizations. The company uses multiple cloud-based channels, including software as a service (SaaS), hosted subscription, and premises-based licensure.

<span class="mw-page-title-main">Genesys (company)</span> American technology company

Genesys Cloud Services, Inc. (Genesys), formerly Genesys Telecommunications Laboratories, Inc., is an American software company that sells customer experience (CX) and call center technology to mid-sized and large businesses. It sells both cloud-based and hybrid cloud software. The company was founded in 1990 and was acquired by investment firms Permira Funds and Technology Crossover Ventures (TCV) in February 2012.

<span class="mw-page-title-main">UKG</span> American software company

UKG is an American multinational technology company with dual headquarters in Lowell, Massachusetts, and Weston, Florida. It provides workforce management and human resource management services.

Paycom Software, Inc., known simply as Paycom, is an online payroll and human resource software provider based in Oklahoma City, Oklahoma with offices throughout the United States. It is attributed with being one of the first fully online payroll providers. It has been recognized by Fortune and Forbes as one of the fastest-growing publicly traded companies in the world, and as one of the World's Most Innovative Enterprise Companies by Fast Company in 2022. Founded in 1998, it reported annual revenue of $1.375 billion for 2022, up from $1.06 billion for 2021.

A human resources management system (HRMS), also human resources information system (HRIS) or human capital management (HCM) system, is a form of human resources (HR) software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data. Human resources software is used by businesses to combine a number of necessary HR functions, such as storing employee data, managing payroll, recruitment, benefits administration, time and attendance, employee performance management, and tracking competency and training records.

Halogen Software was a Canadian company that provided cloud-based talent management solutions to customers with between 100 and 10,000 employees. The firm was founded in 1996 and was headquartered in Ottawa, Ontario, Canada.

Oracle Cloud Human Capital Management is a cloud-based HCM software application suite for global HR, talent, and workforce management released by Oracle Corporation in 2011.

References

  1. ↑ "Ceridian HCM Holding Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 28, 2024. pp. 8, 52–53.
  2. ↑ "Dayforce | Your global people platform". www.dayforce.com. Retrieved February 1, 2024.
  3. ↑ "Dayforce - Newsroom | Dayforce". www.dayforce.com. Retrieved February 1, 2024.
  4. ↑ Richard, Michael A. (2009). Employee Assistance Programs: Wellness/Enhancement Programming (4th ed.). Charles C. Thomas Publisher. p.  76. ISBN   978-0398085612.
  5. ↑ Enterprise, I. D. G. (September 6, 1993). Computerworld. IDG Enterprise.
  6. ↑ "ARBITRON INC (Form Type: 8-K, Filing Date: 03/30/2001)". edgar.secdatabase.com. Retrieved April 25, 2023.
  7. ↑ Berenson, Alex (May 31, 2007). "Ceridian to Be Taken Private in $5.3 Billion Deal". The New York Times. ISSN   0362-4331 . Retrieved May 18, 2016.
  8. ↑ Carissa Wyant (November 9, 2007). "Ceridian sale closes". www.bizjournals.com. Retrieved December 16, 2021.
  9. 1 2 "Ceridian primes customers to embrace cloud HCM". diginomica. March 6, 2015. Retrieved May 18, 2016.
  10. ↑ "Business briefing, Saturday, Oct. 5". Twin Cities. October 4, 2013. Retrieved January 5, 2018.
  11. ↑ "Ceridian Forms Separate HCM and Payments Businesses | @CloudExpo". cloudcomputing.sys-con.com. Archived from the original on January 6, 2018. Retrieved January 5, 2018.
  12. ↑ "Ceridian HCM Holding completes largest IPO in Minnesota". Star Tribune. Retrieved January 28, 2020.
  13. ↑ "Software Maker Ceridian Tops IPO Range to Get $462 Million". Bloomberg.com. April 25, 2018. Retrieved September 7, 2020.
  14. ↑ "Ceridian acquires Australia-based enterprise workforce management solutions provider". www2.staffingindustry.com. Retrieved April 9, 2020.
  15. ↑ "Ceridian offers agile SaaS solutions for engagement, recruitment and payroll". www.hcamag.com. Retrieved June 15, 2023.
  16. ↑ "Ceridian acquires Australia-based Ascender HCM". www.ascenderhcm.com (Press release). March 2021. Retrieved March 3, 2021.
  17. ↑ "Ceridian acquires payroll and HCM services firm ADAM HCM". www.hcamag.com (Press release). Retrieved October 4, 2024.
  18. ↑ "Ceridian Becomes Dayforce". www.dayforce.com. Retrieved February 1, 2024.
  19. ↑ "Ceridian to change ticker symbol to 'DAY' on NYSE and TSX effective February 1". www.dayforce.com. Retrieved February 1, 2024.
  20. ↑ Smith, Buckley (February 11, 2020). "Ceridian says it plans to create 2,000 jobs in Canada over five years". IT World Canada. Retrieved February 13, 2020.

Further reading

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.