Kognitiv Inc. Market Research Report

Background

Overview

Kognitiv Inc. is a consulting firm specializing in providing on-demand support and managed services for Workday®, a leading enterprise management system. Founded in 2016 and headquartered in Newton, Massachusetts, Kognitiv offers a range of services designed to enhance the efficiency and effectiveness of Workday implementations. The company operates on a flexible, pay-as-you-go model, allowing clients to access support as needed without long-term contracts or minimum spend requirements.

Mission and Vision

Kognitiv's mission is to bridge the gap for clients seeking to maintain and enhance their Workday systems post go-live. The company aims to be the go-to professional services brand in the Workday ecosystem, focusing on both customer and employee satisfaction. By offering tailored solutions and innovative applications, Kognitiv empowers organizations to maximize their investment in Workday, ensuring optimal performance and long-term value.

Primary Area of Focus

Kognitiv specializes in providing comprehensive support for Workday implementations, including:

• On-Demand Support: Offering assistance ranging from answering questions to handling updates and adding new divisions to an organization.

• Road Mapping: Helping clients plan the rollout of Workday functionality on an annual or per-update basis.

• New Modules: Assisting with the implementation of additional Workday products such as Payroll, Time Tracking, Recruiting, and more.

• Solutions: Providing packaged solutions to avoid reinventing the wheel and streamline processes.

• Mini Projects: Handling medium-sized projects that require approximately 20-40 hours of work.

• Client Advocacy: Supporting client-side responsibilities during the implementation process to ensure a smooth transition.

Industry Significance

In the rapidly evolving landscape of enterprise resource planning (ERP) systems, effective post-implementation support is crucial for organizations to fully realize the benefits of their investments. Kognitiv's specialized focus on Workday ensures that clients receive expert guidance tailored to their specific needs, enhancing system utilization and driving business success.

Key Strategic Focus

Core Objectives

• Client-Centric Support: Providing flexible, on-demand services that adapt to the evolving needs of clients without the constraints of long-term contracts.

• Expertise in Workday: Leveraging deep knowledge of Workday to offer specialized support and solutions that enhance system performance and user adoption.

• Scalability and Flexibility: Offering services that scale with clients' growth, ensuring continuous support as organizations expand and evolve.

Specific Areas of Specialization

• Workday Consulting: Offering strategic advice and guidance on optimizing Workday configurations and processes.

• System Enhancements: Implementing new features and modules to extend the functionality of Workday.

• Training and Knowledge Transfer: Providing training programs to empower client teams to effectively use Workday.

• Change Management: Assisting organizations in managing transitions and ensuring smooth adoption of Workday solutions.

Key Technologies Utilized

• Workday® Platform: Utilizing the full suite of Workday applications to deliver integrated solutions.

• Rooster Scheduling Tool: A proprietary scheduling tool developed by Kognitiv that integrates multiple technologies into Workday, enhancing scheduling capabilities.

Primary Markets Targeted

Kognitiv serves a diverse clientele across various industries, including:

• Healthcare: Assisting healthcare organizations in managing complex workforce requirements.

• Education: Supporting educational institutions in streamlining administrative processes.

• Retail: Helping retail companies optimize their human resources and financial operations.

• Manufacturing: Enabling manufacturing firms to enhance operational efficiency through effective ERP utilization.

Financials and Funding

Funding History

Kognitiv has secured funding to support its growth and development:

• November 2022: Caltius Structured Capital invested in Kognitiv to fund the continued growth of its core business and software platform.

Utilization of Capital

The capital raised is intended to:

• Support Growth Initiatives: Expand the company's core business operations and software platform.

• Enhance Service Offerings: Develop and implement new solutions to meet the evolving needs of clients.

• Expand Market Reach: Increase the company's presence in existing and new markets to attract a broader client base.

Pipeline Development

As a consulting firm specializing in Workday support, Kognitiv's pipeline development focuses on:

• Client Acquisition: Engaging with organizations planning to implement or enhance their Workday systems.

• Service Expansion: Developing new service offerings to address emerging client needs and industry trends.

• Strategic Partnerships: Forming alliances with other service providers and technology partners to offer comprehensive solutions.

Technological Platform and Innovation

Proprietary Technologies

• Rooster Scheduling Tool: A proprietary scheduling tool developed by Kognitiv that integrates multiple technologies into Workday, enhancing scheduling capabilities.

Significant Scientific Methods

• Agile Methodology: Employing agile practices to ensure flexibility and responsiveness in project delivery.

• Data-Driven Decision Making: Utilizing analytics to inform strategies and optimize outcomes for clients.

Leadership Team

Key Executives

• Luke Switkowski: Co-Founder and CEO. Luke has extensive experience in consulting and has been instrumental in establishing Kognitiv's client-centric approach.

• Mark Grignon: President and Co-Founder. Mark brings a wealth of knowledge in Workday implementations and has played a key role in developing Kognitiv's service offerings.

Leadership Changes

As of the latest available information, there have been no significant changes or appointments within Kognitiv's leadership team.

Competitor Profile

Market Insights and Dynamics

The market for Workday consulting and support services is characterized by:

• Growing Demand: An increasing number of organizations adopting Workday necessitates specialized support services.

• Competitive Landscape: A mix of large consulting firms and specialized boutiques offering similar services.

• Innovation Focus: Emphasis on developing proprietary tools and methodologies to differentiate service offerings.

Competitor Analysis

Kognitiv's primary competitors include:

• TopBloc: A consulting firm specializing in Workday services, offering implementation and support solutions.

• CrossVue: Provides Workday consulting and support, focusing on optimizing Workday applications for clients.

• Alight Solutions: Offers a range of Workday services, including implementation, optimization, and support.

Strategic Collaborations and Partnerships

Kognitiv has formed strategic partnerships to enhance its service offerings:

• Workday®: As a certified Workday partner, Kognitiv has access to resources and training that bolster its consulting capabilities.

• Caltius Structured Capital: The investment from Caltius supports Kognitiv's growth initiatives and service expansion.

Operational Insights

Kognitiv differentiates itself through:

• Flexible Service Model: Offering on-demand support without long-term contracts, catering to the dynamic needs of clients.

• Expertise in Workday: Deep knowledge of Workday systems ensures high-quality, specialized support.

• Client-Centric Approach: Focusing on building long-term relationships by delivering value and satisfaction.

Strategic Opportunities and Future Directions

Strategic Roadmap

Kognitiv's strategic roadmap includes:

• Service Diversification: Expanding service offerings to address a broader range of client needs.

• Geographic Expansion: Entering new markets to increase the client base and revenue streams.

• Technological Innovation: Developing new tools and methodologies to enhance service delivery and client outcomes.

Future Business Directions

Kognitiv plans to:

• Enhance Proprietary Tools: Further develop tools like Rooster