HCM is a term that is used in the business world quite often, but many people don’t know what it actually means. HCM stands for human capital management, and it is a system that is used to manage an organization’s employees. It includes functions such as payroll, benefits, recruiting, and training. In recent years, HCM has been moving to the cloud, and there are now a number of cloud HCM suites available for enterprises. In this blog post, we will discuss what HCM is and introduce the reader to some of the most popular cloud HCM suites.
How can HCM (human capital management) help enterprises?
HCM can help enterprises by managing their people. It’s a way to keep track of employee data, like how much they make and what their job is. HCM can also help with things like payroll and benefits. HCM has a wider scope than traditional human resources management usually, and it includes deeper and more future-oriented aspects about not only managing but nurturing staff. There are a lot of different HCM Suites that companies can use, but some of the most popular ones are in the cloud.
The aim of HCM is to improve the efficiency and effectiveness of HR processes. HCM systems allow for the automation of HR tasks, such as payroll and employee benefits administration. HCM systems can also help to manage employee performance and career development. HCM goes beyond simple talent management and includes modules for workforce planning, learning and development, and compensation management.
In order to do human capital management, most enterprises would rely on software, and naturally, such software is oftentimes hosted in the cloud nowadays. A cloud is a place where companies can store their data. This means that HCM Suites can be used by companies all over the world, and they don’t have to install anything on their own computers.
What cloud HCM software providers are there?
Workday Human Capital Management
One of the most popular HCM suites is Workday. Workday is a cloud-based system that allows users to manage their employee data, payroll, and benefits online. It also includes modules for recruiting and training. Workday is quickly becoming one of the most popular HCM systems in the world, and it has been used by organizations such as Google, Uber, and Netflix.
Oracle Cloud HCM
Another popular HCM suite is Oracle HCM Cloud. Oracle HCM Cloud is a comprehensive system that allows users to manage all aspects of their employee data. It includes modules for payroll, recruiting, benefits, and training. Oracle HCM Cloud has been used by organizations such as Coca-Cola, Ford, and Prudential.
UKG
UKG offers an HCM software solution that is both affordable and easy to use. The solution includes all the features you need to manage your people resources effectively. Their customer support team is available 24/7 to help you get started quickly and easily. There are various UKG solutions available, like UKG Pro, Dimensions, and Ready, so depending on your organization type and size, you’ll be able to make a better decision.
Ceridian Dayforce
The HCM solution Ceridian comes with a range of features that can be beneficial to enterprises. An Employee Self-Service allows employees to access their records and manage their own information, such as updating personal details, viewing pay statements, or letting them request time off.
A Manager Self-Service allows managers to work on employee files and performance reviews or approve time-off requests and view pay statements. Users can use the Workforce Management feature that allows businesses to plan, forecast, and schedule employee hours, and the payroll feature enables automated, timely, and accurate financial compensations for staff.
SAP SuccessFactors
Finally, we will discuss HCM in the cloud pioneer SAP SuccessFactors. SAP SuccessFactors is a comprehensive HCM suite that allows users to manage all aspects of their employee data online. It includes modules for payroll, recruiting, benefits, and training. SAP SuccessFactors has been used by organizations such as Walmart, Nike, and American Express.
ADP Workforce Now
ADP HCM is a comprehensive tool that helps manage human capital. It offers features such as payroll, recruiting, onboarding, and performance management. ADP HCM also integrates with other applications such as ERP and CRM systems. This is useful when companies want to have a single system to manage all of their employee data. Recruiters and HR staff can use the system to find and track potential employees, as well as review and manage employee files.
Cornerstone HR from Cornerstone OnDemand
The HCM software from Cornerstone OnDemand is known for its cloud-based technology, which makes it easy to access and use. It also has a user-friendly interface that makes it easy to navigate. Additionally, it offers a wide range of features, such as recruitment and onboarding, performance management, learning and development, and payroll. The special aspect about Cornerstone OnDemand is that it can be tailored to meet the specific needs of each business.
Talentsoft
What makes Talentsoft interesting for human resources? Talentsoft is a comprehensive cloud HCM suite that covers everything from recruiting and onboarding to workforce management and retirement planning. It includes modules for HR, payroll, time tracking software for employees, performance management, and more. Talentsoft is used by large enterprises such as Coca-Cola, Michelin, L’Oréal, KPMG, and other well-known brands. It’s worth noting that as of now, Talentsoft was acquired by Cegid and the solutions are likely to merge in future roadmaps.
Infor Human Capital Management
Infor offers a comprehensive HCM suite that helps businesses manage their human capital more effectively. The suite includes tools for recruiting, onboarding, training, payroll, outsourcing, and performance management. Infor’s HCM solutions are cloud-based and can be accessed from any device with an internet connection. This means that businesses can access their HCM data and tools from anywhere in the world and work in an agile way.
Darwinbox
Darwinbox is not only a curious name for a company, but it is also one of the most popular cloud HCM suites for enterprises. With its intuitive design and a vast array of features, Darwinbox is quickly becoming a top choice for businesses all over the world. What makes Darwinbox different? One of the most impressive things about Darwinbox is its ability to integrate with a wide variety of other software. Whether you need to connect with your payroll provider or an HR analytics tool, Darwinbox has you covered. Additionally, Darwinbox offers both on-premises and cloud-based options, giving businesses the flexibility they need when it comes to HCM.
Meta4 PeopleNet by Cegid
Cegid is a unique HCM cloud solution because it offers a comprehensive suite of modules that cover all aspects of human capital management. This makes it an ideal choice for enterprises that want to streamline their HR processes and optimize their workforce management. In addition, Cegid’s cloud-based platform ensures that users have access to the latest updates and features, making it a very cutting-edge solution.
What HCM solution should you pick?
When selecting an HCM software, it’s important to consider the specific needs of your business. You’ll need to find a solution that can meet all of your HR requirements, from onboarding new employees to tracking employee performance. It’s also important to choose a solution that is cloud-based and easy to use so that your employees will be able to quickly learn how to use it.
The three most popular HR cloud suites are Workday, Oracle HCM Cloud, and SAP SuccessFactors. These solutions offer a wide range of features that can meet the needs of any business. They are also cloud-based, so you can be confident that your data will be safe and secure. And, since they are all well-established brands, you can be sure that you’re getting a high-quality product.
If you’re looking for an HCM solution that is tailored specifically to your business needs, then Cegid may be the right choice for you. Cegid offers a comprehensive suite of modules that cover all aspects of human capital management, making it an ideal choice for enterprises that want to streamline their HR processes and optimize their workforce management. In addition, Cegid’s cloud-based platform ensures that users have access to the latest updates and features, making it a very cutting-edge solution. So, if you’re looking for an HCM suite that can meet all of your needs, then Cegid is a great option.
Any HCM recommendations?
Nobody from outside your company could easily make a recommendation for what kind of HCM solution you should use. It depends on many factors, and the first thing you need to do in such a digital transformation project is to survey the human capital management and human resources processes. Find out what happens, why it happens, and what the pain points are. Try to understand the people, the input, as well as the output of these processes. There is no need to compare pricing and features before you even know what you need.
I can, however, recommend you to use cloud-based HCM software over the use of software that needs to be managed and installed on thousands of endpoints like personal computers and smartphones. In this time and age, you want to leverage everything that technology can give you, and the cloud is mainly accepted even in the realm of IT and data protection areas. Use digital transformation to avoid change management and other sorts of administrative workload that you need to undertake when you use on-prem or endpoint installable software.
YouTube: What is Human Capital Management (HCM) Software? – Overview of HRIS Systems and HR Technology – by Eric Kimberling – Digital Transformation
Photo credit: The feature image has been done by Fotogestoeber. The infographic in the body of the article was done by Ken Georgie Mathew.
