Wednesday 11 February 2015, Amsterdam
The new report recognizes the following companies as the key players in Global SaaS-based HRM Market: Oracle Corp., SAP AG, Ultimate Software Group Inc., Workday Inc., Ascentis , Automatic Data Processing Inc., Ceridian Corp., Cornerstone OnDemand Inc., Halogen Software Inc., iCIMS Inc., Infor (Lawson) GlobalSolutions , Kenexa Corp., Kronos Inc., Nuview , Saba Software Inc., SilkRoad Technology Inc., SumTotal Systems Inc.
Commenting on the report, an analyst from the reports team said: “Talent acquisition software is a sub-segment of HRM applications. The growth of talent acquisition software is one of the main reasons for the growth of the Global SaaS-based HRM market. Talent acquisition identifies and tracks high performers in the company. It helps in managing an employee's performance within an organization and supports in building the right kind of learning and development program. Between 2009 and 2010, the use of talent acquisition software solutions grew by approximately 40 percent. Many companies are realizing the importance of aligning employee performance with corporate goals and linking this to learning and development programs. Therefore, the high demand for cost-effective talent acquisition is one of the major drivers in the Global SaaS-based HRM market.”
According to the report, one of the major drivers in the market is the streamlining of HR functions. HRM software helps to streamline HR activities and improve the operational efficiency of an organization. Moreover, management tools have been gaining prominence in organizations; HR management applications provide the right kind of solutions to handle the growing administrative functions of HR divisions in organizations
Further, the report states that data security is one of the major challenges confronting the market since it is critical for most businesses. This is because client information, payment information, personal files, bank account details, and other confidential information are difficult to replace. Moreover, this information can be dangerous if it is available to third parties. Data breaches or leaks are the most frequent issues that customers are most concerned about during contract negotiation for on-demand solutions.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.