Do you use an HCM ERP? What about a TWA or a DHL? Perhaps you are familiar with the concept of an LOTR and an STTNG. If you said yes to anything other than the first one, then congratulations. You like defunct airlines, shipping companies, and Scifi / Fantasy entertainment.
For those in the market for a new Human Capital Management (HCM) tool, the market happens to be saturated with a myriad of options. To begin your search I’ve crafted a short list of leading HCM and ERP solutions.
Before you dig in, check out this solution that can help you make your cloud ERP instantly simple to use.
The functionality of HCM software has gone way beyond core HR tasks such as tracking employees schedules and payroll. Employees often can now engage with the system as well through their own employee portals where they can see all their schedules and employee benefits In-house messaging systems are also very common as well as combined LMS and e-learning software to guide employees through training.
Many of these software suites come as the full bundle or can be purchased piecewise for only desired functionality.
Let’s take a look at some of the leading HCM ERP solutions.
This includes both the Core ERP HCM, SuccessFactors BizX suites, as well as analytics core systems. SAP accounts for approximately 11% of the total HCM ERP market share (which is the most for a single company).
One of the premier solutions for large enterprise Human Capital Management. A great part of partnering with such a large company is that different software components are all streamlined to integrate with each other, and to scale up for global companies with thousands of people.
Includes both the more than comprehensive Oracle Fusion suite, as well as the talent management specialized Oracle Talent Cloud (Taleo). Both of these suites also integrate well with each other similar to SAP solutions.
Oracle, along with Ultimate Software and ADP, round out the short list of fully stocked HR suites with a large corporate backing presence. An advantage to opting with one of these companies is that they have a lot of resources going into their product development and can be depended on to update their software. Full range of features such as mobile integration is a given.
A very high-quality product, and the second leading company in Human Capital Management market share behind SAP at 9%. Workday is a full HR suite that covers talent management, recruitment, onboarding automation, as well as payroll and employee schedule tracking.
Great customer service is provided (and is available 24×7). Just a beautiful looking dashboard and interface that makes this product a pleasure to use. Workday does not have some of the fully fleshed out features that other industry mega leaders SAP and Oracle may have, but it’s a fully equipped easy to use suite for medium to large businesses. For this reason, it’s also one of the most competitively priced A-list HCM ERP software suite.
4. Silk Road Life Suite
An innovative cloud-based solution that has a special focus on user engagement throughout the life of an employee.
Open Hire is the branch of the suite used for screening and tracking new talented applicants. This integrates seamlessly with Red Carpet for onboarding, WingSpan for performance management, GreenLight for corporate learning, and Heartbeat for core HR functions.
The Silk Road suite is an elegant cloud-based solution that was built from the ground up by one company and is a great option for small to medium sized organizations.
Skillsoft is originally known more for their custom content creation and e-learning functionality. With their acquisition of SumTotal, Skillsoft moves into the cloud-based HCM and core HR field.
For an organization focused on e-learning that also wants an all in one ERP program to perform basic HCM functions, Skillsoft is worth a look.
This is by no means a comprehensive list, just a small representation of the range and diversity available now in the market.
Just remember to keep in mind core features you actually need while narrowing down your list of potential host HCM ERP software. Do not overspend on superfluous features your business will not use.