Contact Center Solutions Featured Article

Global SaaS-based Human Capital Management Market Report Points to Growing Market

November 22, 2013

Early this month research firm London-based TechNavio published a new report projecting the Global Human Capital Management Market (GHM).  With attracting and managing talent for contact centers a huge challenge, particularly as the skills sets needed to provide improved customer experiences grows, keeping an eye on solutions for managing human capital is important.

As with almost everything these days solutions are leveraging the cloud as a means for cost-effectively automating business processes and managing people is no exception. In fact, the big finding in the report is that Software-as-a-Service (SaaS) driven GHM is expected to grow at a CAGR of 10.05 percent over the period 2012-2016.

The report notes that, “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.”

Not surprisingly the benefits of automation to streamline human resource functions are the big market driver.  The report explains that HCM apps not only make HR activities easier, but they provide tangible improvements to operational efficiency. It states that, “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.”

The report does strike a cautionary posture in saying that a major challenge is the fragmentation of the market which has caused organizations problems in finding a solution that best fits their needs.

The Global HCM Market 2012-2016, covers the market in the Americas, and the EMEA and APAC regions, and includes detailed analysis of participating vendors including key players such as Infor Global Solutions Inc., Kronos Inc., Oracle Corp., SAP AG, Kenexa Corp., Microsoft Corp., SumTotal Systems Inc., Ultimate Software and Workday Inc.

HCM automation is a challenge for enterprises in general. Plus, specific solutions exist in the contact center for tracking and managing agents functions. However, as siloes of information in enterprise come down and the value of big data is recognized for its ability to provide actionable insights quickly, contact center solutions providers certainly need to keep an eye on what is going on in the HCM market so they can leverage the solutions being provided, particularly the emerging SaaS-based ones. 

Edited by Cassandra Tucker