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CRM To be Outstripped by HCM's 'Greater Potential,' Analyst Says

March 27, 2008

EnterConnect has announced the launch of Human Capital Management software applications on the global software-as-a-service marketplace,
"Human capital management is now the hottest application category," said Robert Breza, principal analyst for RBC Capital Markets. "SaaS adoption may have begun with customer relationship management (CRM), but HCM is now rising more than twice as fast as business software overall and the adoption of employee content, communication and collaboration applications quickly follows."

The rising adoption rates may be attributable to the fact that HCM applications are used by all employees and CCC applications are used more broadly by all stakeholders. Breza said that unlike CRM, which is primarily used by customer service and sales, HCM and CCC software have "greater potential to improve overall corporate performance."
HCM is one of ten service-oriented application categories launching in 2008. EnterConnect is launching the HCM category on SOAapps in a joint effort with its Talent Management Application partners: Cornerstone OnDemand, HRsmart, StepStone Solutions and Taleo.
In the Human Capital Management category, SOAapps will feature enterprise applications suites for HCM as well as employee collaboration and workforce productivity. Generally HCM products are designed to let employees handle many day-to-day HR tasks on their own.
Sam Jankovich, CEO of EnterConnect, said the Talent Management partners were selected to provide products "that can align effectively with the requirements and budgets of any size company."
Through the collaborative launch, business executives can now "Find, Try and Subscribe" to Talent Management products including recruiting, workforce compliance, compensation management, eLearning, performance management, and succession planning.
Breza is a co-author on the RBC Capital Markets' report, "On Demand Evolution: A Successful Solution to Solve a Business Problem," which analyzes the evolution of On Demand or Software-as-a-Service business-to-business products. By 2011, RBC predicts, about 40 percent of all software will be acquired through SaaS subscriptions instead of traditional software licensing.
Last November Reuters reported that EnterConnect's commonstock was cleared for quotation on the OTC Bulletin Board. Park Financial Group acted as the company's lead market maker pursuant to NASDRule 6740 and Rule 15c2-11 under the Securities Exchange Act of 1934.

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David Sims is a contributing editor for ContactCenterSolutions. To read more of David’s articles, please visit his columnist page. He also blogs for ContactCenterSolutions here.