Dayforce Announces Dayforce Strategic Workforce Planning
Rhea-AI Summary
Dayforce (NYSE: DAY; TSX: DAY) has announced Dayforce Strategic Workforce Planning, a new AI-enhanced solution integrated within their Dayforce platform. The solution aims to help organizations tackle complex workforce planning challenges through real-time, data-driven insights.
The platform offers centralized real-time data access, automation of manual tasks, enhanced user experience with conversational interface, and AI-enhanced predictions. Key features include analysis of worker skills supply and demand, absence trends, and labor demand forecasting, combining internal data with third-party sources for comprehensive workforce planning. The solution will be available to Dayforce customers in 2025.
Positive
- Integration with existing Dayforce platform provides seamless data access
- AI-enhanced capabilities for automated data analysis and forecasting
- Real-time access to comprehensive workforce data and analytics
Negative
- Product won't be available until 2025, indicating delayed revenue impact
- Enters a competitive market with existing workforce planning solutions
News Market Reaction 1 Alert
On the day this news was published, DAY declined 2.27%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
New Dayforce solution to help streamline and enhance workforce planning through real-time, data-driven insights
MINNEAPOLIS and TORONTO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global human capital management (HCM) leader that makes work life better, today announced Dayforce® Strategic Workforce Planning, a new AI-enhanced solution purpose-built to tackle complex workforce planning needs. Embedded within the all-in-one Dayforce platform, Dayforce Strategic Workforce Planning delivers valuable intelligence to help leaders make informed decisions on current and future workforce needs, in real-time and at scale.
The announcement was made at the company’s flagship customer conference, Dayforce Discover, being held in Las Vegas and livestreamed online. Thousands of attendees are discovering how to unlock their people potential, operate with confidence, and realize quantifiable value through the all-in-one Dayforce platform. Anchored in the company’s brand promise, Makes Work Life Better, the conference ignites the power of the Dayforce community to discover what’s possible.
Strategic workforce planning is a challenging task for organizations due to the multitude of influencing factors, including local legal requirements, global compliance complexities, skill and competency scarcities, talent supply and demand needs, and a variety of company-specific labor considerations. Organizations today often turn to disparate vendors, but – without a single source of truth – crucial information can get lost or distorted, making it difficult for leaders to see the full picture of their business. Fragmented user experiences and manual processes from these disparate and other legacy systems make this critical work time consuming, keeping leaders from staying agile.
With Dayforce Strategic Workforce Planning, customers will benefit from:
- Centralized real-time data: Access accurate real-time pay and employee data – such as the supply and demand of worker skills, absence and overtime trends, and fluctuating labor demand – and combine it with third-party sources, giving one holistic view when analyzing problems with both internal and external inputs.
- Automation: Assist with reducing the cumbersome task of manually compiling data from various areas – including collective bargaining agreements, employee seniority, skilled workforce details by region – and help customers draw deeper insights from this data with machine learning-enhanced demand forecasting.
- Elevated user experience: Help accomplish goals and associated KPIs with a conversational user interface, which makes manipulating data, crafting workflows, and creating visual data representations simple when modeling out different scenarios.
- Agility and accuracy: Keep track of variances in costs and see a clear line of sight into the plan through AI-enhanced predictions and “what if” scenarios.
“In an ever-changing work landscape, effective workforce planning is critical to help organizations stay competitive, operate with greater confidence, and propel businesses forward,” said Joe Korngiebel, Chief Strategy, Product, and Technology Officer, Dayforce, Inc. “Dayforce Strategic Workforce Planning is a game-changer for our customers as it delivers next-generation, AI-enhanced workforce planning capabilities powered by real-time data, automated scenario building, and predictive insights – all within our single Dayforce people platform.”
Dayforce Strategic Workforce Planning will be available to Dayforce customers in 2025.
Additional Information
- Read the press release, “Dayforce Announces Dayforce AI Agents”
- Read the press release, “Dayforce Introduces Dayforce Communications”
- Read the press release, “Dayforce Elevates Partner Experience with Enhanced Dayforce Partner Network”
- Read the press release, “15th Annual Dayforce Pulse of Talent Report: Leaders Face Balancing Act Between Culture and the Need for Efficiency and Agility”
About Dayforce
Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, Pay, Time, Talent, and Analytics equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding the impact of the availability of Dayforce Strategic Workforce Planning, and our expectations, hopes, intentions, or strategies regarding the future or functionalities of Dayforce Strategic Workforce Planning are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to the future and are not statements of fact, actual results may differ materially from those projected. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release should be read in conjunction with the risks detailed in the “Cautionary Note Regarding Forward-Looking Statements”, “Forward-Looking Statements”, “Risk Factors”, and other sections of Dayforce’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other reports we file with the Securities and Exchange Commission. Copies of reports filed with the Securities and Exchange Commission are posted on our website and are available from us without charge.
Media Contact
Allison Hacker
+1 425-785-8276
allison.hacker@dayforce.com
FAQ
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