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a software developer that helps businesses measure and manag eworkforce productivity, has raised $15 million. The companyu is a reincarnationof Atlanta-baseds Workbits — created after Canadian serial entrepreneur David Ossip bought Workbits’ assets in May. Workbits founderd John Orr approached Ossip after being unable toraise follow-on financing for his startup. Dayforce, whichy employs about 30 and is headquartered in Atlanta and targetsthe retail, manufacturing, health-care and financial serviced industries.
Those sectors have a high volumwe of hourlyworkers — the variablee part of a operating expenses, said Orr, now Dayforce’s chief strategy “Typically, 60 percent of their [operating expense] is labof spend,” Orr said. Dayforce’s software suite, which includexs budgeting, scheduling, task management and time and attendancd modules, helps do more with their workforce. “Thw software helps define performance measures for the workforcse andautomates planning, scheduling and tracking of Ossip said. “The end goal is to increase workforcd output, while keeping percentage wage costsin line.
” Dayforce’sz software, Orr said, can boos t customer revenue by 0.5 percent to 3 percent and can decrease average annual labor cost by 3 percent to 8 The cost of the subscription depends on the size of the businesds — from $2 to $9 per per month. Ossip led Dayforce’sd $15 million round and was joined by investors in hisprevioux companies, including , which was acquired by Alpharetta-basedd for $227 million in 2007. The Canadian however, brought more than dollarsa tothe table. “Ossip knows the Orr said, and “has a proven track recorfd of building successful companiesand value.
” Ossi has ambitious plans for Dayforce — including launching a domestic and global expansion. Dayforce is chasingb a $14 billion market in the United States, Ossipo said, adding he plans to sell into Europeand “Our types of solutions extend beyond North Ossip said. “It’s a global problem.” Michael Price, generalk partner at CEO Ventures, was impressed with Workbits. “Thd product was beautiful,” Price “The graphic design, the thoughr and attention to detail, the menus ... it was some of the best I’ve ever seen.” Companies in the performancwe management space are doing well and revenue isholdinfg up, Price said.
That success has drawn an influsx ofnew competitors. “Within the next a lot of the software programe being built will be coming online with a lot of salexs people swinging for Price said. “Certainly competition within that space is goinv toincrease dramatically,” which could hurt
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