LONDON--(BUSINESS WIRE)--Technavio has announced the top eight leading vendors in their recent human capital management (HCM) software market in Germany report. This research report also lists 12 other prominent vendors that are expected to impact the market during the forecast period.
The introduction of the Employment and Labor Law 2016 in Germany will increase the adoption of HCM software. The law regulates the employee-employer relationship by providing a set of guidelines such as contractual agreements, proper documents of employee and working conditions, and work time. It also facilitates protection of employees from unlawful employer activities such as insufficient wages. HCM software has employee-related compliance management where the process is automated to ensure all the regulations are satisfied.
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Competitive vendor landscape
According to the report, the market is fragmented with the presence of many multinational vendors. Several vendors have established a sizeable market presence in the HCM software market in Germany. ADP, SAP, Oracle, and Workday are the leading players in the market.
“Competition has intensified due to the increasing demand for HCM software among large enterprises and SMEs. Price wars among players have increased, driven by the need to form high-value partnerships with large enterprises,” says Ishmeet Kaur, a lead enterprise application analyst from Technavio.
The highly fragmented nature of the market is affecting the proportion of target audiences, with vendors struggling to build clear business cases. Large players require multiple vendors to mitigate risks, especially when they wish to discontinue their business with a specific vendor. Established vendors will acquire smaller vendors to expand their product portfolio and increase their market share. Through such acquisitions, large companies acquire advanced technologies and have an opportunity to enter new markets. In addition, smaller service providers have less success in establishing effective working relationships with end-users, compared with their larger counterparts.
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Top eight HCM software market vendors in Germany
ADP
ADP offers HCM solutions for both SMEs and large enterprises. The functionalities of HCM solutions provided by the company are talent management, human resource management, tax and compliance, benefits administration, payment solutions, and time and attendance management.
Oracle
Oracle offers database and middleware software, cloud infrastructure software and hardware systems (includes Oracle engineered systems, servers, storage, networking and industry specific products), and application software, along with support and related services. Oracle Taleo HCM solutions and Oracle HCM solutions help the company manage human resources, recruit employees, and set compensation.
SAP SuccessFactors
SAP SuccessFactors provides cloud-based business execution solutions. Its solutions help enterprises improve their business strategy, team execution, and people performance. The company provides HCM application suite that integrates recruiting and onboarding, social collaboration, learning management, performance management, applicant tracking, succession planning, talent management, and HR analytics.
Workday
Workday is a provider of enterprise cloud applications for finance and human resources. The company delivers solutions for financial management, human capital management, and analytics. It offers HCM solutions for medium-sized and large enterprises under segments such as education, financial services, government, healthcare, insurance, manufacturing, retail, and hospitality. The functionalities of the solutions help enterprises manage complex and dynamic operating environments.
BambooHR
BambooHR provides online HR software for small and medium-sized businesses to manage their employee information. The company serves tens of thousands of employees in 70 countries worldwide
The company offers HR solutions for SMEs. The functionalities of the solutions help the enterprises secure employee data in one location and manage complex and dynamic operating environments.
PeopleFluent
PeopleFluent provides HR solutions with functionalities such as talent management, recruiting and onboarding, compensation management, succession planning, performance management, workforce compliance, learning management, workforce planning and analytics, and social collaboration.
Ultimate Software
The HCM solutions provided by the company delivers functionalities such as recruiting and onboarding, payroll management, time and attendance management, performance management, succession planning, talent management, business intelligence, people management, and benefits management.
Zoho
The company offers solutions such as online office, collaboration and business productivity suite, HRM, HCM, customer relationship management, network management, sales, enterprise IT management, social media management, accounting, and e-mail marketing. The HCM-related solutions provided by the company help enterprises automate the human resource processes.
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