Truno, Retail Technology Solutions, the retail industry leader in integrated technology solutions, has reached a definitive acquisition agreement with TimeForge, the retail industry leader in labor management software. The acquisition, expected to close this month, strategically aligns resources and infrastructure between the two companies, affording retailers the industry’s most comprehensive labor analytics solution, the companies say.
In a dynamic landscape of changing regulations, including recent minimum wage increases, healthcare changes and overtime reimbursement rulings, labor analytics is an increasingly important aspect of doing business. By leveraging technology to optimize the labor force, retailers can in turn optimize their margins, according to the companies.
“In an industry known for operating within small margins, Truno believes strategic labor operations are instrumental in the success of brick-and-mortar retail. Truno will continue to invest in solutions we believe deliver valuable results to retailers,” said David Miller, Truno’s CEO. “The acquisition of TimeForge is directly in line with Truno’s vision to lead the navigation of technology, empowering businesses as the most trusted solutions provider.”
TimeForge says its suite of solutions has proven to provide retailers value in reducing labor spend and increasing profits through real-time online scheduling, employee tracking, and payroll reporting.
“Building on a long history of successful partnership, we are excited to join team Truno,” said Anthony Presley, founder and president of TimeForge. “Our products, when combined with Truno’s vast point-of-sale data accessibility and knowledge, create a lot of value for our customers.”
Both companies are headquartered in Lubbock, Texas, and the two companies share similar cultures and values.