Workday, the poster child for Cloud HR innovation, boosted more than 100 enhancements including the incorporation of the latest machine learning and professional services automation technologies into its latest release Workday 24 for customers to create a more engaging workforce. Over the past year, major vendors such as LinkedIn, SAP and Skillsoft all strengthened their offerings through acquisitions of for elearning, Fieldglass for contingent labor management and SumTotal for talent management, respectively.
Like many HCM Applications Vendors In The Cloud, Zenefits and Castlight Health have done exceedingly well raising capital with the former securing a total of $580 million to date and the latter bagging $178 million in its IPO in 2014. Subscribe Now and read profiles of the Top HCM Applications Vendors In The Cloud and Market Forecast 2015-2019 Of the remaining 71 Cloud HCM applications vendors listed in this year’s Cloud Top 500 market report, 38 scored above-average growth rates in 2014 with at least two Zenefits for HR benefits administration and Castlight Health for management of employee healthcare benefits experiencing triple-digit revenue increases. Among the top 10 HCM applications vendors, eight shot past 21% last year. Last year the HCM applications market in the Cloud jumped 21% to $6.1 billion in Cloud subscription revenues, a full four percentage points above our earlier estimate of $5.8 billion. Top 10 HCM Software Vendors and Market Forecast 2016-2021
The market for Human Capital Management (HCM) applications in the Cloud, engineered by some of the world’s best minds in Cloud computing, grew faster in 2014 than our estimate as customers big and small embraced their software as the emblem for HR innovation.
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