Golden Star Enterprises, Ltd. (GSPT)

[oldstocks]

The market for our products is competitive, and we expect that competition will continue to intensify as the WFM markets evolve and potentially consolidate. We believe that the trend toward electronic WFM by the use of mobile technology, and particularly cloud solutions, was accelerated by the COVID-19 pandemic.



We believe the primary competitors of our WFM the following Top 5 Competitors - Major WFM Vendors



The information below on market size/share is from 2019 but the article was published Feb. 2021 & the competitors are listed in order of market share,



Kronos is the #1 provider for WFM applications - https://www.appsruntheworld.com/top-10-workforce-management-vendors-market-forecast-and-customer-wins





1.

Kronos & Ultimate Software (the 2 companies merged, now called UKG or Ultimate Kronos Group, before Ultimate Software the 2nd most popular behind Kronos)






1.

primarily targets small/midsize businesses and specific industries like education - https://www.kronosglobal.de/resource/download/1270, market share of 18.2% in 2019






·

Regarding Kronos software





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“Training required to effectively use the applications...business owners must allow supervisory staff the time to learn the program or hire” outside help to “provide in-service training”


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Search and research options available as part of the Kronos programs can be overwhelming and the information produced creates a essentially a “potential data minefield for staff investigating narrow questions.” - https://smallbusiness.chron.com/pros-cons-kronos-39358.html





·

Regarding UKG Pro





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Customer service and interface are lacking


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No Personal Time Off (PTO) calendar


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Menu is difficult to navigate - https://www.capterra.com/p/480/UKG-Pro/reviews/





2.

ADP (US)






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Reporting isn’t user friendly, especially if not tech savvy


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Poor customer service, the wait for help with the reporting team is long and sales reps. don’t always follow up - https://www.trustradius.com/products/adp-workforce-now/reviews?qs=pros-and-cons




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3.

Workday






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Needs more integration


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Search tool needs improvement


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The time off balance can be unclear


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The system can’t handle multiple transactions with the same effective date - https://www.trustradius.com/products/workday-hcm/reviews?qs=pros-and-cons





4.

SAP






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System is complex, makes it difficult to understand all of the functionalities


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System slows down if multiple data configuration are active


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Customer Service lacks full understanding of the software’s functionalities - https://www.trustradius.com/products/sap-successfactors/reviews?qs=pros-and-cons





5.

Oracle (US)






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80% of users mention that navigating the system is tedious


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“suffers from glitches..combined with poor navigation slows work down and impacts productivity”


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“Infrequent updates and an outdated UI further decrease efficiency”



You may find this info at - https://www.selecthub.com/workforce-management-software/oracle-workforce-management



Our Source for top 5 competitors: https://www.appsruntheworld.com/top-10-workforce-management-vendors-market-forecast-and-customer-wins



According to Grand View Research, in terms of market concentration, the workforce management software market is more fragmented than consolidated. Although there are corporations like IBM and SAP which are present in the industry, it’s evident that there is space for competitors like Enigmai to seize the opportunity to be innovative and establish themselves alongside these large companies.