A complete guide to buying human capital management software

Last updated:April 2018

Buyer's Guide

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Editor's note

Human capital management software is the backbone of a thriving business, helping to manage the most valuable asset: people. More than just tools to manage core functions like payroll, benefits, and time and attendance, today's HR software addresses fundamental workforce management needs, including skills development, talent management and recruitment, and cross-company collaboration efforts. Cutting-edge HR management software features are even turning to AI and advanced analytics to offer productivity and engagement insights. Given the vast array of options, the HR software market can be overwhelming. There is potential for companies to buy the wrong products or to overcommit and overspend.

It's vital companies go into the buying process prepared. The opaque nature of the market makes apples-to-apples comparisons nearly impossible. Compounding this is the fact most vendors do not disclose pricing upfront, putting buyers at a disadvantage. The key to finding the best human capital management software for your company without overpaying for features you don't need is to first identify your business needs and objectives, both current and future. The modular nature of much of the HR software covered in this guide lends itself to a growing enterprise, with buyers adding functionality and features as the company and its needs expand.

This buyer's guide has simplified the process to help you make a well-informed decision. Here you will learn about the three major categories of HCM tools and how human capital management software vendors sell these products. In addition, we'll explore how to determine your specific needs and objectives and align them with the features that will factor into your request for proposal. We'll also explore strategies for quantifying human capital management software benefits and measuring ROI. Finally, with a list of your must-have features and functions, we'll examine some of the leading vendors and the products.

1How human capital management software can address business needs

Explore expert advice on how to establish your company's HR software needs and business objectives, as well as how human capital management functions can help address them.

2Business needs drive the human capital management software buying process

HR software comes in many forms, with an overwhelming number of features and functions. Identifying your business needs before purchasing is key when choosing the best human capital management software for your organization.

3Buying the best human capital management software for your business

Which HR software features will help your company grow and thrive? Learn how to buy HCM software that perfectly fits your business.

4Human capital management software vendors and market overview

With all of the human capital management software on the market, how do you know which one is right for your company? Here we examine the leading human capital management software vendors and what each of their products has to offer.