Human Capital can make or break viability, market leadership and success of companies of any size. With Mobile, Cloud, Social and Big Data going mainstream, there is no better time to leverage technology to efficiently manage Human Capital. While applications like CRM, SCM, and Financials are used by respective functional groups within an organization, HCM (Human Capital Management) software usage transcends all of the silos
Consumerization of the Enterprise
Unfortunately, not many of existing Enterprise Applications have embraced high-quality design and usability techniques when they were built. However, this trend has changed in recent years with the rapid adoption of products like Box, Hub Spot and Slack. With the ubiquitous use of Facebook, iPhone and Uber on Smartphones, Consumers (Employees) expect aesthetically designed easy to use DIY products. Long implementation cycles and training timelines might affect adoption rates due to user impatience. User Experience clearly has now big mindshare of our Professional Lives.
Need for next-generation HCM Software
As the workforce becomes more global and virtual, Human Capital Management solutions need to evolve from Transaction (records, payroll, benefits) and Compliance (leave, attendance) centricity to the entire HR lifecycle of Recruitment, Performance Management, Learning, and Engagement. A system of engagement facilitating two-way dialogue in every aspect of hire to retire lifecycle is the imminent need for every growing organization.
Established Software Companies find it very difficult to revamp their existing architecture to be able to accommodate new technology trends as well as a variety of needs of Enterprise Customers. Also, as HR philosophies for most organizations try and evolve to be world-class, it is important for a platform to be flexible to enable the transition
New Players Vs Incumbents Vs Global Majors – Who will win the battle?
While “Software is eating the world”, who will the Customers buy from as they look to migrate from aging on-premises HR systems to SaaS? While Facebook of India is Facebook, which company will be “SuccessFactors” of India is a million-dollar question.
We at Endiya Partners believe that in the HCM Space, Indian SaaS Startups are best positioned to gain Market Leadership by targeting Mid Size Enterprises and Fast-Growing Startups, to begin with, and over time they will inevitably serve Large Enterprises (Clay Christensen’s Innovators Dilemma at play)