Global Human Capital Management Market 2012-2016 report says market to grow at a CAGR of 10.05 percent over the period 2012-2016.
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.
Analysts forecast the Global Human Capital Management market to grow at a CAGR of 10.05 percent over the period 2012-2016. 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 Global HCM Market 2012-2016, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market in the Americas, and the EMEA and APAC regions; it also covers the Global Human Capital Management market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
The report 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.
Other vendors mentioned in the report are Kenexa Corp., Microsoft Corp., SumTotal Systems Inc., Ultimate Software, and Workday Inc.