Workforce management software is a set of tools that businesses use to increase overall efficiency and productivity among workforces. Efficient workforce management software matches the right employee to the right job and allows management to efficiently oversee employee operations. Within the scope of workforce management are several aspects of human resources, for example, payroll, benefits administration, time, attendance, and scheduling, talent and performance management, and career development. The workforce management software offers some features like best-fit schedules, tracking time and attendance, administering absence and leave, and measuring the productivity of a high-performing workforce.This growth is primarily driven by Growing Usage of Cloud-Based Solutions and Augmented Focus on Workforce Optimization and Mobile Applications.
Globally, a noticeable market trend is evident Increased Adoption of Automation in Many Organizations. Major Players, such as Active Operations Management International LLP (United Kingdom), NICE Systems Ltd. (Israel), IBM Corporation (United States), SAP SE (Germany), Oracle Corporation (United States), Infor (United States), Kronos Incorporated (United States), Reflexis Systems Inc. (United States), SISQUAL (Portugal) and BambooHR LLC (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On Oct 02, 2019 - Kronos Incorporated today announced the acquisition of Optimum Solutions, Inc., a national provider of human capital management (HCM) services and solutions.
- Growing Usage of Cloud-Based Solutions
- Augmented Focus on Workforce Optimization and Mobile Applications
- Increased Adoption of Automation in Many Organizations
- Operational Complexities as well as Significant High-Cost Expenditure After Purchase
Rising Inclination toward Human Resource Analytics
High Training Investments by the Enterprises
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