Earnings report shows $128 million in Transformation costs for Fiscal 20’ and is projecting another $50 million for 21’. Betting that $ 50 million won’t be reached by letting go 2 - 3 executives. More worker bees are going to take the hit. Call it service alignment or whatever you want but at what point does it stop. At what point does the company realize their clients still need support and you can’t just sell products then not support them adequately.
9 replies (most recent on top)
For poster ID @8pov+17EhICFs I'm not pushing products I'm merely stating that the information ADP provides to the street is all positive and frankly, unless clients LEAVE and there is a direct hit to revenue (or unless a whistleblower reports dishonest reporting on ADP's part) then the street knows nothing else. Net Revenue, EBITDA, EPS - it's only those things that matter to Wall Street. Your assertion about products being faulty is, until proven to Wall Street, merely your assertion. I am not promoting the products.
It's called being desperate! Lie, cheat, steal... it the ADP way!
The new products from the transformation go live with zero testing. There are laundry lists of bugs for each new product? Why are you pushing products that don’t even work for the clients?
ADP's earnings call shows an incredibly successful quarter - credited in part with the execution of the transformation initiative. The transformation initiative was originally identified as a multi year effort - so yes, it's still in execution. Financial performance from Q1 FY 2021 has only confirmed its effectiveness. THAT IS ALL WALL STREET CARES ABOUT.
@5olx+17EhICFs - "Why have we not achieved our goals?" - Because ADP got rid of experience and hired cheap and foreign seat warmers with no experience or skills! Oh, and did I mention clients hate not speaking to Americans?
ADP has spent tens of millions of dollars over the last 5 years with labs and secret think tank locations, all trying to make our products best in class. Why have we not achieved our goals?
Anyone hearing of actual changes coming to departments or BUs?
You can than Stuart "Sackless" Sackman for the crummy ADP products. Why is that guy even still employed?
It's kind of hard to sell products when you are competing against world class products from the likes of Workday or Paychex. I know one large client (7000+) who switched from ADP to Workday because their product offering is vastly superior - much cleaner and appealing UI, faster workflow, better usability, improved speed of implementation. All of these are areas that product offerings from ADP lag way behind the competition.