Dayforce, Inc. (DAY)

Overview

Dayforce Inc., previously known as Ceridian HCM Holding Inc., is a prominent player in the field of human capital management (HCM) software, offering its services across the United States, Canada, and other international locations. Stemming from its foundation in 1992 and headquartered in Minneapolis, Minnesota, Dayforce Inc. has evolved into a company specializing in comprehensive cloud HCM solutions. Focused on transforming how companies manage their workforce, the company seamlessly integrates various aspects of human resources management into its pioneering Dayforce platform. This evolution in name and brand identity, taking place in February 2024, underscores its commitment to innovating HCM software solutions that cater to modern workforce needs.

Products and Services

Dayforce Inc. stands out in the market with its flagship product and a suite of associated services designed to optimize human capital management for businesses of all sizes:

• Dayforce: A cloud-based HCM platform that revolutionizes the way organizations handle their human resources functions. It combines several critical functionalities such as:
  • Human Resources: Streamlines HR processes to improve employee engagement and compliance.
  • Payroll and Tax: Offers comprehensive payroll management, ensuring accuracy and compliance with tax laws.
  • Workforce Management: Enables organizations to effectively plan, manage, and track employee work hours and attendance.
  • Dayforce Wallet: An innovative feature that allows employees instant access to their earned wages, promoting financial wellness.
  • Benefits: Assists companies in administering employee benefits programs seamlessly.
  • Talent Intelligence: Employs analytics to help businesses make informed decisions regarding talent acquisition and development.
• Powerpay: A cloud HR and payroll solution tailored for the small business market, facilitating the management of HR and payroll tasks with greater efficiency and ease.
• Payroll and Payroll-Related Services: Beyond software, Dayforce offers specialized payroll services that help businesses manage payroll tasks, ensuring accuracy and adhering to regulatory requirements.
• Implementation and Professional Services: Recognizing the diversity of its client base, Dayforce Inc. provides customized implementation and professional services, ensuring businesses can fully harness the capabilities of its HCM solutions.

The company leverages a direct sales force along with third-party channels to distribute its solutions, indicating a flexible and extensive reach in the market.