Study Finds 176% ROI for Dayforce Platform
A Total Economic Impact study conducted by Forrester Consulting found that customers of the Dayforce human capital management platform achieved an average return on investment of 176%. The study also calculated that organizations saw a net present value of $6.8 million in benefits over a three-year period.
- Human Capital Management (HCM) is a strategic approach to managing a company's workforce, encompassing HR, payroll, benefits, and talent management. The global HCM software market is projected to grow from $46.92 billion in 2026 to $71.11 billion by 2031. - The Dayforce platform, formerly Ceridian HCM, operates on a single database for all its modules, which eliminates data duplication and reduces errors by ensuring HR, payroll, and time tracking teams work from the same real-time information. - A key feature driving efficiency is Dayforce's continuous payroll calculation engine, which updates pay in real-time as changes like new hires or time-off requests occur, eliminating the need for batch processing at the end of a pay period. - The Total Economic Impact™ (TEI) methodology used in the study was developed by Forrester Consulting and evaluates technology investments by analyzing costs, benefits, flexibility, and risks over a three-year period. - The platform integrates AI-driven features for predictive analytics in workforce planning and identifying retention risks, as well as providing over 300 pre-configured reports and customizable dashboards for data analysis. - Dayforce has a strong presence in industries with complex workforce needs, such as retail, healthcare, and hospitality, serving organizations that range from mid-market to large enterprises with thousands of employees. - The company reported a gross revenue retention rate of 98% for the full year 2024, indicating strong customer satisfaction and loyalty with its unified platform. - The broader HCM market is shifting towards cloud-based solutions, which are expected to grow at a CAGR of 9.11% through 2031 as companies move away from on-premise systems.
