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Global SaaS-based HRM Market 2009 2013
Infiniti Research Limited, April 2010, Pages: 22
SaaS (Software-as-a-Service)-based HRM (Human Resource Management) comprises Human Capital Management (HCM), recruitment automation, and workforce management deployments, subscribed as a web-based service. As opposed to implementation of a HRM software, it provides an online environment for the employee management.
The tough economic conditions have compelled the enterprises to introduce many cost cutting measures. However, enterprises prefer adopting HRM technology solutions (for better efficiency) to laying off employees. This is because lay off leads to a decrease in employee motivation, slowdown of new product roll outs, increase in attrition of talented employees, as well as deteriorated customer service levels. The SaaS-based HRM streamlines operations by increasing focus on profit generating activities and managing employees efficiently for improved productivity. Further, SaaS-based HRM provides a flexible, low-cost business model to enable its customers focus more on their core business, without worrying about support administrative functions. Additionally, the SaaS-based service eliminates the need for time consuming patches and updates in the HRM software.
Till recently, the SaaS-based HRM market had witnessed small or medium-sized businesses as customers for On-demand, while the big organizations have been reluctant to adopt the SaaS-based HRM services. These big companies were of the opinion that hosted or On-demand applications may not suit the complex business processes of their company or provide vertical functionality. However, the trend is changing with a number of companies (irrespective of the size of their businesses) finding more opportunities through SaaS deployments.
The tough economic conditions have resulted in the growth of the SaaS-based HRM market. The companies that are challenged in their HRM IT capabilities due to lack of budget for infrastructure and staff can have HRM capabilities through SaaS-based HRM. In addition, shift from the traditional large-scale production to mass customization, with increased emphasis on flexibility in business model, is leading to an increase in the demand for HRM service. New versions of applications or environment can be quickly built through SaaS-based HRM. These versions include performance metrics, or customization of the work flow of back-office operations etc without the need for placing order and waiting for new software installation. The maximum demand is for E-recruiting, followed by human capital management, performance and talent management, and learning management system.
This report by TechNavio Insights highlights the current and future market potential of the Global SaaS-based HRM Market. Further it discusses trends, drivers, growth inhibitors. It also profiles a few major vendors in the market.
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