Human Capital Management Market Witnessing Increased Use of SaaS

London, UK, August 24, 2011 -- A recently released report by Technavio, specialists in emerging technologies market research, reveals that the Global Human Capital Management (HCM) Systems market is expected to grow at a CAGR of 5.1 percent.

The report, which covers the Americas as well as the EMEA and APAC regions, indicates that the market is being driven by the need to streamline human resource functions.

According to Technavio’s industry analyst, “HR teams are often overloaded with various tasks that need to be handled manually, which increases the amount of paperwork and consequently affects overall productivity. Human capital management solutions have been delivering effective results by increasing the productivity of HR personnel as it helps HR teams to coordinate various functions efficiently and automate some of their activities.”

The report also highlights that the high cost of training and implementation associated with HCM systems is hindering the growth of this market. However, the increasing need to manage and measure performance is expected to keep driving the market. There is also a trend in the market of increasing use of Software as a Service-based HCM solutions.

These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.

Technavio’s report, Global Human Capital Management Systems Market 2010–2014, is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains incisive insights and SWOT analyses regarding the key vendors in this market, including Oracle, SAP AG, Infor, Kronos, and Microsoft.

For further information and to obtain your copy of this report, please visit http://technavio.com/content/global-human-capital-management-systems-market-2010-2014.

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About Technavio

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This release was published on openPR.