According to Gartner, a market research firm, 30% of global midmarket and large enterprises will have transitioned to a cloud HCM system for their administrative HR and talent management requirements by 2020.
The firm acknowledged that not all individuals are enthusiastic about transitioning to the cloud for their HCM application.
Certain organizations are content with their on-premises solution. Some individuals are apprehensive about the cost or security of cloud technology, while others are preoccupied with managing their competing IT priorities and are unable to make the transition.
However, Gartner has identified four HCM software vendors that are at the forefront of the 2018 Magic Quadrant for companies that are currently at a stage of digital maturity. The following is a concise summary:
Workday’s most noteworthy attributes and advantages include:
- HR fundamental operations
- Administration of global benefits
- Reporting capabilities System functionality
- Functionality of mobile applications
Oracle
The most noteworthy features and advantages included:
- Planning for compensation
- Administration of benefits
- Career and succession planning
- HR service fulfillment
- Module for Recruiting Cloud
- Work-life balance solutions
- Advanced controls for the integration of AI and personal digital assistance
Ultimate Software
The most noteworthy features and advantages included:
- Implementation of a fixed-bid system to enable purchasers to anticipate costs
- Enhanced applications of artificial intelligence and machine learning
- Functionality of mobile applications
- Management of performance
- Career and succession planning
- Time-capture module
SAP
The most noteworthy features and advantages included:
- Mobile application functionality that was jointly developed by Google
- Job analyzer that employs machine learning to detect unconscious bias
- A tool for managing visas and work permits that is customized to the specific needs of each country
HR service fulfillment
Some aspects of face-to-face HR administration will be replaced by comprehensive cloud HCM suites as HR continues its digital shift.
“The demand for compelling and personalized user experiences is being driven by the transition to digital HR administration, as applications have become the “face” of HR departments,” Gartner stated.