Kronos Acquires Financial Management Solutions Inc. to Deepen Financial Services Industry Expertise
CHELMSFORD, Mass., Jan 05, 2017
Kronos Incorporated today announced that it has acquired Financial Management Solutions Inc. (FMSI), a leading provider of workforce management and analytics applications for the credit union and retail banking industry.
- Founded in 1990 and headquartered in Alpharetta, Ga., FMSI offers technology solutions that help drive productivity, sales, and service performance in branches for credit unions and retail banks. FMSI’s flagship product line, Omnix, is an integrated Software as-a-Service (SaaS) suite of applications including staff scheduling, performance analytics, lobby tracking, and appointment scheduling.
- This acquisition deepens Kronos’ expertise within the financial services industry, specifically the credit union and retail banking segment, complementing Kronos’ human capital management (HCM) strength with unique functionality for optimizing branch operations.
- FMSI solutions are currently used by more than 100 organizations, and FMSI will benefit from Kronos’ extensive resources and HCM domain expertise, helping accelerate the pace of product innovation and drive greater demand.
- Acquiring FMSI also supports Kronos’ SaaS expansion strategy, which remains the fastest-growing aspect of the company’s business.
- Kronos will continue to support the acquired customers through a dedicated team of FMSI employees, and FMSI customers will have access to a comprehensive and complementary array of Kronos HCM and workforce management solutions.
Bob Hughes, chief strategy officer, Kronos
“Kronos’ acquisition of FMSI demonstrates our commitment to helping financial services organizations, especially credit unions and retail banks, more effectively manage their most valuable asset - the workforce. Kronos believes that great businesses are powered by great people, and employee engagement is critical for success. Together with Kronos human capital management offerings, FMSI solutions can help create a work environment for our customers in which employees feel valued and treated equitably.”
W. Michael Scott, chairman/chief executive officer, Financial Management Solutions, Inc.
“FMSI’s acquisition by Kronos launches a new chapter for FMSI employees and customers. To be part of a leading, global organization such as Kronos means we can now take even greater strides in innovation. Also, Kronos’ employee and customer centric approach is unparalleled in the industry and we are excited to gain from the associated knowledge and benefits.”
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About Kronos Incorporated
Kronos is a leading provider of workforce management and human capital management cloud solutions. Kronos industry-centric workforce applications are purpose-built for businesses, healthcare providers, educational institutions, and government agencies of all sizes. Tens of thousands of organizations – including half of the Fortune 1000® – and more than 40 million people in over 100 countries use Kronos every day. Visit www.kronos.com. Kronos: Workforce Innovation That Works™.
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