The ultimate guide to HCM suites for high-growth enterprises

Human Capital Management (HCM) is dened as a set of practices for managing human resources, with the goal of achieving organizational competency for workforce acquisition, management and optimization. HCM software is an umbrella system that impacts all people processes and drives automation, eciency, and effectiveness to achieve tangible business outcomes.

Whether you know it as Human Capital Management (HCM), Human Resource Information System (HRIS) or Human Resource Management System (HRMS), chances are you use it at work. Even though there are minor differences between HCM, HRIS and HRMS, for the purpose of this eBook, we’ll treat them as being the same and refer to them as HCM, as this term fully encompasses what people management is all about.

Human Capital Management started out as a rudimentary support function, grew into the role of business partner and has nally evolved into a strategic business leader today. These phases of growth correspond rather interestingly to the stages that the enabling technology has grown through as well.

Despite this kinship and correlation in evolutionary phases, global HR still seems to be dedicating 60 per cent of their time at work to routine, transactional functions. That is not acceptable in this era of inevitable digital growth, where eciency and effectiveness are the highest priorities for all business leaders. Human Capital Management systems are leading the charge for progressive HR leaders to embrace and empower change at every stage of the cycle. Choosing the right HCM vendor becomes a crucial step in this transformation.