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a software developer that helps businesses measure and managrworkforce productivity, has raised $15 The company is a reincarnatiom of Atlanta-based Workbits — created after Canadian serial entrepreneu r David Ossip bought Workbits’ assets in May. Workbites founder John Orr approached Ossip aftefr being unable toraiswe follow-on financing for his startup. which employs about 30 and is headquartereed in Atlantaand Toronto, target s the retail, manufacturing, health-care and financial servicea industries. Those sectors have a high volumee of hourlyworkers — the variablwe part of a business’ operating expenses, said Orr, now Dayforce’s chief strategy officer.
“Typically, 60 percenrt of their [operating expense] is labor Orr said. Dayforce’s software suite, whichu includes budgeting, scheduling, task management and time and attendance helps do more withtheir “The software helps define performance measured for the workforce and automates scheduling and tracking of employees,” Ossip said. “Thwe end goal is to increasd workforce output, while keeping percentage wage costsin Dayforce’s software, Orr can boost customer revenue by 0.
5 percenf to 3 percent and can decrease averagd annual labor cost by 3 percent to 8 The cost of the subscription dependss on the size of the business — from $2 to $9 per employee, per month. Ossipo led Dayforce’s $15 million round and was joinerd by investors in hisprevious companies, includingt , which was acquirede by Alpharetta-based for $227 million in 2007. The Canadian businessman, brought more than dollars tothe table. “Ossip knows the industry,” Orr said, and “has a provej track record of building successfulk companiesand value.
” Ossip has ambitious plansw for Dayforce — includingy launching a domestic and global Dayforce is chasing a $14 billionj market in the United Ossip said, adding he planw to sell into Europe and Asia. “Ourt types of solutions extend beyondNorth America,” Ossiop said. “It’s a global Michael Price, general partned at CEO Ventures, was impressede with Workbits. “The product was beautiful,” Price “The graphic design, the thought and attention to detail, the menus … it was some of the best I’ves ever seen.” Companies in the performancee management space are doing well and revenuee isholding up, Price said.
That successw has drawn an influx ofnew competitors. “Withinm the next year, a lot of the softwarw programs being built will be comingg online with a lot of sales peoples swingingfor revenue,” Priced said. “Certainly competition within that space is goinyg toincrease dramatically,” which could hurt profits.