SAP announced latest group of global organizations who have selected its human capital management (HCM) solutions in the second quarter of 2016 to run human resources (HR) in the cloud.
German engineering and services group Bilfinger SE, Brazilian payment processing company Cielo S.A., Chinese cosmetic company Guangzhou Uniasia Cosmetics Technology, Singapore’s retailer NTUC Fairprice Co-Operative Limited and Chinese car rental UCAR are now using SAP SuccessFactors solutions.
“These clients choosing SAP SuccessFactors solutions demonstrates that companies across the globe, in a variety of industries and of various sizes, are looking at how technology can support their HR transformation,” said Mike Ettling, president of SAP SuccessFactors.
Companies are looking to simplify processes and improve efficiency across all HR functions. Therefore, they are adopting innovative and intelligent solutions and data-driven strategies to drive digital transformation.
According to a Forbes report, the HR software market is $14 plus billion in size. New generation technologies are fuelling innovation in this area.
“People are at the center of business strategy, now more than ever, and their expectations around technology in the workplace have changed. They expect a consumer-grade experience when recruited, across their learning and development, and with the ability to collaborate across the globe,” said Ettling.
According to PwC’s HR Technology Survey 2016, more than two-thirds of respondents have at least some HR applications in the cloud, and a similar number have mobile HR apps.
PwC found even greater adoption is needed in the future to meet workforce demands.
More than half of the respondents cited their greatest challenges to implementing Human Capital Management in the cloud as resistance to give up customizations, the need for significant process transformation and product limitations.
The research firm noted that 40 percent of the respondents are planning to consolidate their cloud software vendors moving forward.
Easier vendor management, better support, and better integration are cited as top motivations for consolidation.