Dayforce, Inc. is a global provider of human capital management (HCM) software solutions. Its main product is the Dayforce Cloud HCM platform, which integrates functionalities such as global human resources, payroll, workforce management, benefits, and talent intelligence. Additionally, Dayforce offers Powerpay, a cloud-based HR and payroll solution tailored for Canadian small businesses. The company also supports legacy systems in North America and the Asia Pacific Japan region, with a focus on transitioning these clients to the Dayforce platform. Revenue is generated from software subscriptions, service fees, and float revenue from holding customer funds.
Dayforce operates in the HCM technology market, targeting organizations with more than 100 employees for its Dayforce platform and smaller businesses with Powerpay. The platform is designed to manage payroll across over 200 countries, providing localized payroll services and compliance support. Dayforce Wallet, a digital payment solution, allows employees to access their earnings instantly, contributing to revenue through interchange fees. The company has a substantial client base, with approximately 6,876 Dayforce customers and around 38,000 Powerpay accounts, covering millions of employees.
The operational structure of Dayforce includes a direct sales force and partnerships with third-party channels to market and sell its products. The company also operates Dayforce National Trust Bank, which acts as a trustee for U.S. payroll trust funds, ensuring client fund protection. Key factors influencing Dayforce's business performance include competition in the HCM market, the transition of clients from legacy systems to cloud solutions, and seasonal revenue variations, particularly with a stronger fourth quarter due to new contracts and customer implementations.