Workforce management solutions provider ZeroChaos is growing via acquisition.
The company announced news on Thursday (Aug. 31) that it reached a deal to acquire Loki Management Systems, another workforce management software company. Financial details of the takeover were not reported by their company.
“Loki is a strong software platform, providing functionality that fits well with our existing ZCWeb technology,” explained ZeroChaos CEO Michael Werblun. “This acquisition will allow us to better serve our customers by enabling us to offer more advanced scheduling capabilities — particularly relevant for industries with complex requirements. We also look forward to driving continued organic growth in the Loki business by providing it with greater financial resources.”
According to the announcement, Loki Management Systems specializes in complex staff scheduling and payroll management for global enterprise customers. The company provides software under the Advanced Payroll for Microsoft Dynamics 365 and StaffRight brands, reports explained.
Advanced Payroll is designed specifically for multinational companies and is integrated with Microsoft Dynamics 365. StaffRight, meanwhile, provides staffing and scheduling capabilities. The company currently has 200 clients across 17 countries in a range of industries, including healthcare, hospitality and construction, among others.
“We are very excited to be joining ZeroChaos,” said Richard Swann, Loki’s president, in another statement. “The scale and resources that ZeroChaos provides will allow us to accelerate growth, as well as be a stronger partner to our existing customers.”
Recent research from The Workforce Institute at Kronos, released in June, highlighted the importance of accurate payroll management as part of a strong workforce management strategy. According to the company’s survey, nearly half (49 percent) of U.S. workers said they would leave their employers after only two payroll errors, and nearly a quarter said it would take just one payroll mistake to look for a new job.