TechNavio recognizes the following companies as the key players in the Global Human Capital Management Market: Infor Global Solutions Inc., Kronos Inc., Oracle Corp., and SAP AG.
Commenting on the report, an analyst from TechNavio’s team said: “SaaS-based HCM applications are being implemented by companies to save costs and improve the effectiveness of human resource functions. Also, SaaS and cloud computing solutions have been growing at a fast pace, providing organizations with an approach to efficiently run their business operations. SaaS is considered to be a viable model for HCM as it is inexpensive compared to traditional solutions, and also has other advantages such as flexible deployment options, shorter implementation cycle, simple installation process, and reduced IT costs. SaaS-based HCM vendors such as SuccessFactors, Ultimate, and Workday are leading the Global SaaS-based HCM market with their innovative products. Similarly, SaaS payroll vendors such as Patersons, Safeguard, and OneSource VHR are also gaining importance in the market.”
According to the report, one of the major drivers in the market is the need to streamline human resource function. HCM applications help streamline HR activities and improve the operational efficiency of an organization. Tracking all employee activities in HCM software enables organizations to access information rapidly. Also, HCM applications help provide the right kind of solutions to the growing administrative concerns of organizations’ HR divisions.
Further, the report states that one of the major challenges is the fragmentation of the market. The market currently includes many companies selling products that cater to HR functions. Organizations face difficulties in selecting the right kind of HCM software solution.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-human-capital-management-market-2…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Human Capital Management Market 2012-2016
