Workforce management software solutions help in addressing these concerns with features like several features like HR Administration, talent management, labor budgeting, workforce tracking and several others. The usage of these solutions is not limited to any particular industry vertical. Instead, the adoption rate is growing across the enterprises operating in different sectors.
The global workforce management software market is expected to grow at a CAGR of 13.86% for the period 2016 to 2021. Good productivity is the key to the success of any organization. Enterprises are striving hard to enhance the productivity of their employees, reduce costs and improve the business process efficiency. They are increasingly adopting solutions which help them to achieve this goal.The workforce management software includes features like payroll and benefits, HR administration, employee self-services, time and attendance, performance management, forecasting and scheduling, labor budgeting, workforce tracking, and others.
Workforce management also encompasses field service management that includes elements like, demand management, workforce scheduler, workforce dispatcher and mobile solutions. The intention behind using the workforce management software is to make the company’s workforce as productive as possible, reduce labor costs and improve the customer service.
This market has been segmented on the basis of its deployment – on-premise and on-demand – and its applications have been described under the different set of end users such as manufacturing, retail, government, travel and transport, and others. Its prominence in various regions – North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa – have been explained in the report as well.
Some of the major vendors mentioned in the report are SAP, Oracle, Kronos, ADP, Hydra Management and Reflexis. There are some other vendors like Better Plan, Asure Software, Calabrio, Conrep, Sierra Data Systems and Kappix who are serving the market with their unique offerings.
Growing focus on maximum productivity, increasing adoption of ERP and analytical solutions, and supportive industrial regulations and legalities are some of the factors contributing to the growth of the workforce management software market.
General implementations or execution issues with the software are something that might hinder the demand growth of the workforce management software market.
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