Latest News

Human Capital Management Market worth $41.3 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

4 weeks ago

April 6, 2024

CHICAGO, April 5, 2024 /PRNewswire/ — Digital transformation, with a focus on employee experience, remote workforce management, skills-based talent management, diversity and inclusion efforts, and AI-powered HR automation, will influence the future of the human capital management (HCM) market. Enhancing workforce management strategies and promoting corporate success will also require agile HR practices, regulatory compliance, data protection, and interaction with business platforms.

The Human Capital Management Market is expected to grow from USD 27.5 billion in 2024 to USD 41.3 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period, according to a new report by MarketsandMarkets™. HCM focuses on optimizing the potential of a company’s workforce through strategic HR practices. It transcends borders, harnessing diverse talents worldwide and shaping global enterprises for sustainable growth and competitive advantage. These drive the development of the HCM market.

Browse in-depth TOC on “Human Capital Management Market”

398 – Tables
58 – Figures
294 – Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=193746782

Scope of Report

Report Metrics	Details
Market Size Available For Years	2019–2029
Base Year Considered	2023
Forecast Period	2024–2029
Forecast Units	Value (USD Million/Billion)
Segments Covered	Offering, Deployment Model, Organization Size, and Vertical
Regions Covered	North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies Covered	Workday(US), UKG(US), Oracle (US), SAP(Germany), Dayforce(US), ADP (US), Paylocity(US), Paycom(US), Cornerstone(US), and Microsoft(US).

Based on the Offering, the Services segment will grow at the highest CAGR during the forecast period.

In services, HCM intersects with several vital drivers, reshaping how organizations manage human resource interactions and support functions. HCM offers scalability and flexibility, allowing businesses to adjust HR according to demand and changing customer needs while ensuring cost efficiency through outsourcing. Service segments in HCM are pivotal for the effective deployment, ongoing support, and continuous enhancement of HCM software solutions. These services encompass three critical areas: Implementation and Support, Ongoing Customer Support, and Continuous Improvement & Enhancements. Service providers assist organizations in transitioning to new HCM software by offering tailored implementation plans aligned with existing processes and providing hands-on training during the implementation phase. Post-implementation, dedicated customer support ensures prompt assistance for any issues or queries, essential for maximizing the software’s utility.

Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=193746782

Based on Vertical, the BFSI segments will gain the highest market size during the forecast period.

HCM aids BFSI in inefficient workforce management, compliance adherence, and talent retention strategies. With the industry’s complex regulatory environment and demand for skilled professionals, HCM solutions streamline HR processes, enhance employee engagement, and facilitate strategic workforce planning. Providers like Peoplestrong offer features such as bulk transactions, complete and final settlements (FnF) management, mobile transactions, and AI chatbots. Akrivia HCM provides a unified HCM platform explicitly designed for the BFSI industry, featuring bulk employee detail uploads, background verification, approval flow configurations, personalized training programs, continuous performance management, employee engagement tools, and comprehensive reports and analytics for strategic workforce planning and operational efficiency.

By Region, Asia-Pacific will grow at the highest CAGR during the forecast period.

Businesses in Asia Pacific are increasingly focusing on resource optimization and productivity enhancement, leading to a rising demand for HCM solutions. Critical countries covered include China, Japan, India, Singapore, Malaysia, the Philippines, and other Asia Pacific countries. Growth is anticipated due to the emergence of startups and the adoption of new technologies such as Industry 4.0, data analytics, cloud technology, and artificial intelligence, necessitating a skilled workforce. Integration with other business systems, like payroll, accounting, and talent management, is a crucial focus for HCM software providers in the region. Seamless integration allows for the smooth flow of data across different departments, improving data accuracy and overall operational efficiency. Due to the increasing prevalence of mobile devices, HCM software providers offer mobile applications to enhance accessibility and connectivity. Mobile apps allow employees and HR professionals to access HR-related information and perform essential tasks on the go, making managing HR functions remotely in the region more accessible.

Top Key Companies in Human Capital Management Market:

Some of the key players operating in the Human Capital Management Market are – Workday (US), UKG (US), Oracle (US), SAP (Germany), Dayforce (US), ADP (US), Paylocity (US), Paycom (US), Cornerstone (US), and Microsoft (US).

Recent Developments:

Workday launched Manager Insights Hub. The Workday Manager Insights Hub is a new solution designed to enhance the manager experience by providing timely and personalized insights and recommended actions within their workflow. Leveraging AI and ML technologies, it surfaces automated recommendations related to team time off, employee skills, sentiment, goals, and more, empowering managers to make informed decisions and effortlessly facilitate their teams’ career growth and development.
UKG and PayPal collaborated to enable individuals paid through UKG to direct deposit earnings into PayPal Balance accounts, offering flexibility and faster access to wages. This industry-first partnership highlights UKG’s commitment to providing people-centric experiences in HR solutions.
Dayforce acquired Eloomi, a provider of innovative HR solutions. This move would enhance both companies’ product and service offerings, leveraging Eloomi’s expertise and Dayforce’s extensive resources. This deal would offer innovations, including AI Co-pilot, Enhanced Analytics & Reporting, and Social & Communications modules. Despite potential logo changes, Eloomi’s dedicated team and customer support will remain unchanged, ensuring a seamless experience for existing clients.

Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=193746782

Human Capital Management Market Advantages:

HCM systems increase productivity and lessen administrative load by automating and streamlining crucial HR procedures including workforce management, payroll, benefits administration, and time and attendance monitoring.
Organisations can attract, retain, and develop top people with the help of HCM systems’ sophisticated talent acquisition and management tools, which include application tracking, onboarding, performance management, and succession planning.
Through features like employee self-service portals, feedback tools, recognition programmes, and career development efforts, HCM systems improve employee engagement and retention while building a positive work culture and lowering attrition.
By automating compliance procedures, handling paperwork, and offering audit trails, HCM solutions guarantee adherence to labour laws, regulations, and industry standards while lowering the possibility of fines and legal ramifications for non-compliance.
Insights into workforce trends, performance indicators, and HR KPIs are provided by HCM platforms’ powerful analytics and reporting features, which facilitate data-driven decision-making and strategic planning to maximise workforce management and productivity.
Through workforce planning tools, HCM systems assist businesses in anticipating their workforce needs, identifying skills gaps, and optimising staffing levels. This enables proactive talent management and resource allocation to support business objectives.
As remote work becomes more common, HCM platforms help manage the workforce remotely by offering features like performance tracking, virtual collaboration tools, flexible scheduling, and virtual collaboration tools. These features guarantee engagement and productivity in dispersed work environments.
HCM solutions are adaptable and scalable, meeting the demands of companies of all sizes and sectors, from start-ups to major corporations, and enabling system integration and customisation to satisfy particular needs.

Report Objectives

To define, describe, and forecast the global HCM market based on offering deployment model, organization size, vertical, and region
To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
To strategically analyze the market subsegments concerning individual growth trends, prospects, and contributions to the total market
To provide detailed information related to the major drivers, restraints, opportunities, and challenges influencing the growth of the market
To strategically analyze macro and micro markets concerning growth trends, prospects, and their contributions to the overall market
To analyze industry trends, patents & innovations, and pricing data related to the Human Capital Management Market
To analyze the impact of the recession on offerings, deployment models, organization size, verticals, and regions globally
To analyze the opportunities in the market for stakeholders and provide details of their competitive landscape for prominent players
To profile key players in the market and comprehensively analyze their market shares/ranking and core competencies
To track and analyze competitive developments, such as mergers & acquisitions, new product developments, and partnerships & collaborations in the market

Browse Adjacent Markets: Software and Services Market Research Reports & Consulting

Related Reports:

EHS Market – Global Forecast to 2029

Mass Notification System Market – Global Forecast to 2029

Passenger Information System Market – Global Forecast to 2028

Marketing Automation Market – Global Forecast to 2027

Blockchain IoT Market – Global Forecast to 2026

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/human-capital-management-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/human-capital-management.asp

Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/human-capital-management-market-worth-41-3-billion-by-2029—exclusive-report-by-marketsandmarkets-302109161.html

Latest News

Everest Trust Scales New Heights With Premium Accounts For Ambitious Traders

Published

5 mins ago

May 2, 2024

CISION (PR Newswire)

LANCY, Switzerland, May 2, 2024 /PRNewswire/ — Everest Trust, a leading online brokerage firm, has recently announced the launch of its premium account offerings. These exciting new accounts offer experienced and high-volume traders unparalleled control and enhanced features to reach their financial summits.

“We understand that successful traders have specific requirements,” says Emily-Rose Hawthorn, a spokesperson for Everest Trust. “The premium accounts are crafted to cater to those who seek more from our trading platform. We’ve empowered these individuals with the necessary tools, resources, and support to navigate the ever-evolving financial landscape and make informed decisions.”

Premium features for peak performance

Everest Trust’s premium accounts exceed the standard conditions offered in their primary accounts. Premium account holders will enjoy a multitude of benefits aimed at elevating their trading journey. Here’s a glimpse of what traders can expect.

The broker provides customized spreads, swap rates, and custom leverage options, allowing users to optimize their strategies and potentially retain a more significant share of their profits. Members also benefit from personalized guidance and support with two dedicated, 30-minute weekly consultations with an account manager with extensive market expertise. This ensures traders always have a trusted advisor by their side to remain informed and equipped to make sound decisions.

Everest Trust elevates the trading experience further with exclusive features like weekly trading signals, access to trade-exclusive events and limited credit allocation for qualified clients. The importance of risk management is addressed, with risk management tools and strategies provided by them to minimize the impact of market volatility. Additionally, select members enjoy the peace of mind that comes with limited insured positions, offering a safety net for their investments.

“We are confident that the premium accounts will be instrumental in propelling our customers towards success,” emphasizes Hawthorn. “By bringing a customized and results-oriented workplace, Everest Trust is committed to unlocking new avenues for growth for traders.”

About Everest Trust

Everest Trust is an online investment platform that allows individuals of all backgrounds to participate in the financial markets. The brand delivers a secure and reliable solution for investors to grow their wealth with a user-friendly platform, a comprehensive suite of trading tools, and a wide variety of financial markets available to trade. The introduction of premium accounts underscores its dedication to catering to the evolving needs of all clients, from novice to pro.

Website: https://www.everestrust.com/

View original content:https://www.prnewswire.co.uk/news-releases/everest-trust-scales-new-heights-with-premium-accounts-for-ambitious-traders-302134359.html

Latest News

Checkout.com and Mastercard partner to bring virtual cards to Online Travel Agents

Published

2 hours ago

May 2, 2024

CISION (PR Newswire)

The collaboration enables Checkout.com’s customers to access the Mastercard Wholesale Program, unlocking reduced costs and higher conversion rates
The partnership supports Online Travel Agencies (OTAs) and other travel sector businesses that use cards to make B2B payments, as the market is forecast to reach $1.5 trillion in revenues by 2027^{^[1]}
The partnership follows Checkout.com’s launch last year of Issuing in the UK and Europe, enabling brands to issue, process, and manage card programs, and combine with acquiring to fund cards efficiently

LONDON, May 2, 2024 /PRNewswire/ — Checkout.com, a leading global digital payments provider, today announces a partnership with Mastercard to bring virtual cards to Online Travel Agents.

As part of the Mastercard Wholesale Program, which reduces costs for travel businesses through virtual card technology and an innovative pricing model, customers of Checkout.com will be able to pay their suppliers more easily and benefit from higher conversion rates by issuing virtual cards.

“Mastercard remains committed to powering the travel economy with digital payment solutions that provide greater flexibility, visibility, and protection. Over 400,000 travel providers worldwide already rely on us to enable payments through the Mastercard Wholesale Program, and we’re thrilled to be collaborating with Checkout.com to support their customers to embrace the next generation of payment solutions for B2B travel” said George Simon, EVP, Market Development, Mastercard Europe.

“We’re delighted to partner with Mastercard to complement our virtual card issuing solution, enabling Online Travel Agents to unlock new revenue streams and deliver a connected customer experience. Together we’ll offer higher payment performance to travel merchants by combining the Mastercard Wholesale Program with our single integration connecting acquired sales to issued cards, which unifies acquiring and issuing, for better cash flow management”, said Meron Colbeci, Chief Product Officer at Checkout.com.

By combining acquiring and issuing, Checkout.com helps Online Travel Agents move seamlessly from receiving customer payments to paying suppliers. Traditionally, Online Travel Agents had to manage these two sides of their business separately, which can lead to inefficiencies and increased potential for error. Checkout.com’s integrated solution ensures a seamless flow from customer payment acquisition to supplier payouts, turning what used to be a cumbersome process into a cohesive, streamlined operation. In turn, this deepens trust and relationships within the ecosystem.

Notes to editors:

To learn more, please visit our website here.

For more information on Mastercard’s Embracing a virtual future for B2B travel payments report, SEPTEMBER 2023; www.mastercard.com/global/en/business/large-enterprise/mastercard-enterprise-partnerships/b2b-travel-solutions/global-wholesale-travel-whitepaper.html

About Checkout.com

Checkout.com offers a high-performance, cloud-based payments platform that transforms payments into a significant revenue source for enterprises and scaling businesses. Its technology is built for flexibility, scalability, and efficiency, enabling seamless processing of payments, payouts, and card program management. Checkout.com is headquartered in London, with offices in New York, Paris, Dubai, Hong Kong, and other locations across six continents. Customers include global OTAs such as Reward Gateway, Hopper, Grab, Flyin and Dott.

Checkout.com. Where the world checks out.

^{^[1]} Phocuswright, U.S. Online Travel Agency Market Report 2021–2025, March 2022.

View original content:https://www.prnewswire.co.uk/news-releases/checkoutcom-and-mastercard-partner-to-bring-virtual-cards-to-online-travel-agents-302133474.html

Latest News

CFGI Acquires Leading German CFO Advisory Firm PAS Financial Advisory AG

Published

3 hours ago

May 2, 2024

CISION (PR Newswire)

BOSTON and STUTTGART, Germany, May 2, 2024 /PRNewswire/ — CFGI, a leading global accounting and business advisory firm and a portfolio company of Carlyle and CVC Capital Partners, today announced that it has signed an agreement to acquire PAS Financial Advisory AG, a major German non-audit accounting advisory firm with a robust presence spanning nine offices across Germany and more than 100 employees.

PAS Financial Advisory AG serves public and private clients, offering a comprehensive suite of accounting, reporting, process, and valuation advisory services tailored to address the evolving needs of organizations across the business lifecycle. Comprising professionals with extensive corporate and Big Four experience, PAS delivers unparalleled expertise without the constraints of auditor independence, providing clients with agile solutions to complex challenges.

CFGI continues its strategic international growth trajectory with this latest acquisition, further solidifying its position as an industry leader in the provision of integrated financial and non-financial reporting advice, technical accounting, risk advisory, and transaction services.

“We are thrilled to welcome PAS Financial Advisory AG to the CFGI family,” commented CFGI Co-CEO Nick Nardone. “This partnership marks a significant milestone in our continued commitment to expanding our global footprint and enhancing our service offerings to meet the evolving needs of our clients.”

Shane Caiazzo, CFGI Co-CEO, added: “CFGI is building on its position as a world-class independent accounting and business advisor to CFOs everywhere, supporting their most important regulatory compliance and business improvement initiatives. The addition of PAS gains us both a leadership position within the German market and a great team sharing the same mindset regarding our approach to the market, client service, and product offerings.”

“I’m extremely excited about the future and what this combination will offer both our employees and our clients,” said Markus Groß, CEO of PAS Financial Advisory AG. “Joining forces with CFGI strengthens our abilities to serve our clients in increasingly complex regulatory environments. The resulting partnership maintains our commitment to cultivating top talent and delivering outstanding client service while expanding our ability to serve clients as a global advisory partner. We thank our clients for their trust in us and the unique partnerships this has created.”

The combined business serves a diverse customer base across industries, including life sciences, manufacturing and distribution, private equity, technology, software, energy, and financial services.

For media inquiries, please contact:

CFGI Media Contact:
Rachel Tucker Bobbitt, Regional Support Manager
[email protected]

PAS Financial Advisory AG Media Contact
Markus Groß CEO
[email protected]

About CFGI
CFGI, a Carlyle and CVC Capital Partners portfolio company, is a leading global accounting and business advisory firm. We partner with our clients on their most important regulatory, transaction, and business improvement initiatives. Our team of over 1,000 former Big 4 professionals brings expertise across technical accounting, capital markets, tax, valuation, ESG, transaction advisory, restructuring, and technology solutions — all delivered with an independent and roll-up-the-sleeves approach. CFGI was founded in 2000 and serves thousands of global clients across 19 offices throughout the Americas, Europe, and the Asia Pacific regions.

Learn more at www.cfgi.com.

About PAS Financial Advisory AG
PAS Financial Advisory has become one of the largest and most renowned German non-audit financial advisory firms specializing in the delivery of best-in-class advisory services along the CFO agenda. With a dedicated team of experts, PAS Financial Advisory works closely with its clients to develop customized solutions for their individual needs – from DAX40 and mid-sized companies to innovative start-ups, as well as private equity investors and their portfolio companies.

Logo – https://mma.prnewswire.com/media/2403206/CFGI_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/cfgi-acquires-leading-german-cfo-advisory-firm-pas-financial-advisory-ag-302133886.html