ADP and Kronos Sign Contract to Extend Relationship
Wednesday August 13, 9:01 am ET
biz.yahoo.com
ROSELAND, N.J. & CHELMSFORD, Mass.--(BUSINESS WIRE)--Aug. 13, 2003--ADP®, Inc. (NYSE: ADP), Employer Services division, a leading provider of integrated outsourced payroll and human resources services, and Kronos® Incorporated (Nasdaq: KRON), today announced that they have agreed to continue their current relationship with the signing of a five-year contract extension. Under the current contract, ADP provides Kronos' time and labor solutions under private label to ADP customers as both standalone products and as a component of bundled solutions.
"Today's announcement marks the extension of a very successful relationship," commented Mark Ain, Kronos chief executive officer. "Kronos solutions have been sold into tens of thousands of ADP accounts over the years, so it's clear that customers who desire a service bureau model for their employee-related applications benefit from our partnership."
"Tight integration of Kronos' products, either hosted by ADP or at the client's site, will help to enhance the breadth and depth of services that ADP is able to offer our customers," said Russ Fradin, president, ADP Employer Services. "Our relationship with Kronos, initially formed in 1993, clearly has proven beneficial for both companies. We look forward to continuing to develop this relationship and our ongoing shared success." |
