Technology is emerging as the key differentiator for HR processes. Increased automation has helped improve clarity and transparency in HR roles, leading to enhanced communication and improved perception of HR. Greater need for developing a holistic and strategic approach for skill management across global organisations has led to strategic investments within the HR technology processes.
After earlier posts on the ERP and CRM PEM grids, this post attempts to highlight the key trends around the “Human Capital Management” products category.
Human Capital Management i.e., HCM includes end-to-end integrated solutions as well as functional offerings including recruitment, talent acquisition, performance management, training and development, employee management solutions. Software products under this category vary significantly with respect to the breadth and the depth of functionalities to differentiate the business value offered.
Nearly 14 per cent of all enterprise software applications received were focused on HCM software. Some key trends are:
- Almost every shortlisted HCM software product(s) was launched before 2012
- ~72 per cent of the assessed products have deployment models of both on-premise and cloud
- SaaS models are highly prevalent in the case of software products focused around human resource functionalities.100 per cent of the qualified nominations had a SaaS version to their product offerings.
The shift in business need has had direct reflection on the software products being developed and adopted. The solutions no longer focus on automation of transactions and record keeping functionalities but provide a business-centric value enabling organizations to hire the right talent, know their people better, and operate in a highly collaborative environment.
The PEM GRID for Human Capital Management below features 10 competitive products under full-fledged or function specific HCM software category. Some of the companies featured on the GRID are:
- Adrenalin (Adrenalin esystems Ltd) – Enterprise-wide HCM software that is modular, available to all employees of an organization and has self-service features for all strategic, financial and administrative employee-to-business processes. It is integrable to most ERPs, Finance and Payroll system and Social, Mobile, Analytics and Cloud ready
- EmployWise (Global Groupware Solutions Ltd.) – Enterprise grade Human Capital Management software that covers entire employee life cycle of an organization. It is easy to integrate with third party applications through excel upload/download and web services as well as provides Single Sign On capabilities, configurable workflows, web based self-service model of customer activation. Deployed on Multi- tenant SaaS model
- Greytip Online (Greytip Software Pvt Ltd) - Enables organizations to deliver a wide range of employee services accurately, effectively and quickly. Ensures that organizations have a well-structured and easy way to maintain employee data, accurately calculate payroll and enable statutory compliances. With the employee self-service features, information available to all stakeholders – CEO, employees and Managers anytime and anywhere
- EmpXtrack (Saigun Technologies Pvt. Ltd) – Full featured HRMS solution available on the cloud that automates strategic, tactical and operational HR functions. It provides multiple modules that can be added individually or in sets that cover the HR requirements of any global organization. Can suit the needs of large to small and medium organizations and available as a self-enrollment plug-and-play product
Feel free to reach out to me at firstname.lastname@example.org for explanations regarding the PEM methodology and positioning of companies in the grid.