Human Capital Management

Human Capital Management

August 29, 2011

SaaS Witnesses Increase in Human Capital Management Market

Technavio recently announced a report that Global Human Capital Management (HCM) Systems have started using SaaS (News - Alert) heavily and the market is expected to grow at CAGR of 5.1 percent.

The report also says in EMEA and APAC regions, human resource functions are trying to streamline themselves. It also suggests that HCM systems are grappling with the high training costs involved for a human resource function. The need to manage and measure performance is driving the market leaders to adopt a SaaS approach to adopt HCM solutions.

In a release, Technavio’s industry analyst said, “HR teams are often overloaded with various tasks that need to be handled manually, which increases the amount of paperwork and consequently affects overall productivity. Human capital management solutions have been delivering effective results by increasing the productivity of HR personnel as it helps HR teams to coordinate various functions efficiently and automate some of their activities.”

Most companies are using this report as a basis to understand the changing landscape across the world in the field of human resources and also trying to formulate plan to address the concern over the rising costs to training and implement some of the best practices that can be adopted from the industry. The report also contains SWOT analyses about the various HCM solutions available in the market. The various organizations that provide HCM solutions are Oracle, SAP AG, Infor, Kronos (News - Alert), and Microsoft.

The report is named Global Human Capital Management Systems Market 2010 – 2014. Technavio extensively conducted research with experts in this industry including vendors, and the end-users to understand the prevailing landscape in this industry. The market is also looking at using Software-as-a-Service extensively to cut costs and improve their management levels in this function. Some of the key learning’s in this report are to find what will be the market size in 2014 and at what rate will this market for HCM solutions grow. They also analyzed on the key trends in this market and what is driving this market shift. They also identified the key opportunities and threats faced by key vendors in this segment.

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Calvin Azuri is a contributing editor for TMCnet. To read more of Calvin’s articles, please visit his columnist page.

Edited by Rich Steeves

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