War for Talent Boosts HCM Software to Top $6 billion

As the war for talent has grown acute in this age of globalization, human resources tasks such as managing payroll and benefits have evolved into much more strategic, and more companies are deploying software for human capital management for a competitive edge (reports IBD). The HCM software market is forecast to top $6 billion in sales this year, according to AMR. 

Top Vendors  in HCM Software Market:

  • Oracle (NASDAQ:ORCL - News
  • SAP (NYSE:SAP - News)
  • Microsoft (NASDAQ:MSFT - News)
  • Kenexa (NASDAQ:KNXA - News): specializes in performance management software that gauges workers' effectiveness. 
  • Ultimate Software (NASDAQ:ULTI - News): focused on work force management systems that help recruit, hire and pay workers. 
  • Taleo (NASDAQ:TLEO - News): evaluate job candidates and match resumes with the best available job openings.
  • Saba (NASDAQ:SABA - News): has roots in e-learning software, and supports online job training.
  • SuccessFactors 
  • Workday

And some key recent developments are: 

  • Payroll provider Automatic Data Processing (NYSE:ADP - News) bought Employease, which offers HCM software-as-a-service.
  • Kronos (NASDAQ:KRON - News) bought SmartTime for its manufacturing labor-management systems.
  • Workday became the market's newest startup, with an official launch Nov. 6,  the brainchild of PeopleSoft founder David Duffield. 

HCM software is often delivered as an on-demand service. Such a subscription model pleases investors by creating a steady stream of recurring revenue, unlike one-time software license sales.

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