This report identifies key demand-side trends in the cloud human capital management (HCM) suites market, helping enterprises fine-tune their HCM suite adoption strategies. It includes key trends in the HCM suites space based on Avasant’s assessment.
Why read this Market Insights?
Enterprises are adopting cloud HCM suites to streamline and automate HR processes while centralizing HR management. This allows them to save time on payroll processing, enhance compliance across multiple regions, simplify workforce management, and derive actionable insights from unified platforms. Enterprises in the manufacturing and retail industries are the leading adopters of cloud HCM solutions. Manufacturers focus on use cases such as workforce optimization with shift scheduling, skills tracking, and labor forecasting, while retail companies leverage HCM solutions for time and attendance tracking, performance management, and handling seasonal workforce fluctuations. Organizations are also leveraging generative AI to automate routine inquiries, provide personalized employee support, deliver tailored learning recommendations, and generate insights from workforce data for strategic decision-making.
The Cloud HCM Suites 2024–2025 Market Insights™ aids enterprises in identifying important market trends for any HCM adoption project they take part in.
Methodology
The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives, targeted discussions with platform vendors, subject matter experts, and Avasant Fellows, and lessons learned from consulting engagements.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–8)
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- Definition and scope of cloud human capital management suites
- Avasant recognizes 14 top-tier vendors supporting enterprise adoption of cloud HCM suites
- List of cloud HCM suite vendors evaluated
- Key enterprise cloud HCM trends shaping the market
Demand-side trends (Pages 9–13)
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- Payroll management and HR process automation and standardization are the key priorities for over 40% of enterprises implementing cloud HCM systems.
- Manufacturing, retail, and financial services sectors are the top buyers of cloud HCM solutions, collectively accounting for about 40% of the market demand.
- The major industries adopting HCM suites are automating the complete hire-to-retire life cycle.
- Enterprises are ready to test Gen AI-enabled cloud HCM suites to support recruitment, improve employee experience, and optimize workforce planning.
Key contacts (Page 14)
Read the Research Byte based on this report. Please refer to Avasant’s Cloud HCM Suites 2024–2025 RadarView™ for detailed insights on the platform vendors and supply-side trends.