Top 10 HCM Software Solutions In 2024

HCM Stands for Human Capital Management. Managing human capital includes a lot of time-consuming routine tasks that sap productivity and divert time that could be more efficiently used to handle tasks that are crucial for your business. Most importantly, HCM systems make the work of HR and payroll specialists within your organization more productive. They free them from myriad routine tasks by automating them and making information accessible for those who need it. 

Day in, and day out, HR managers have to deal with various tasks such as enrolling employees in the benefits plan or updating payroll deductions, dealing with employees who lost their pay stubs, allocating labor costs across departments, or filling out paperwork for or onboarding new employees. The list of HR tasks is endless. However, all such tasks and many others are better handled with the help of HCM systems offered by HCM companies. 

Not only do HR managers benefit from HCM systems, but the overall organization’s productivity rises too. 

HCM solutions also enable managers to measure and track how much time employees spend working and where and when they do that, i.e. allocate work time by type of activities or departments. The best HCM software can even track how much employees are producing and allocate billing rates. 

What Is HCM Software?

HCM HR software is a set of digital software, platforms, or tools the HR team uses to track people analytics and optimally manage human resources. In addition to benefits administration, payroll, and handling other HR functions, HCM solutions track employees across different groups within the organization at every stage of the employee lifecycle.

The range of functions  human capital management software offers, among other things, include:

• Recruitment
• Onboarding
• Payroll
• Benefits administration
• Performance management 
• Talent management
• Workforce planning
• Employee development

HCM software unites these functions into a single system, providing HR departments with the powerful tool to manage all aspects related to human resources.

HCM Systems

• Workday: best for comprehensive, integrated HCM and financial management needs in large enterprises.
• SAP SuccessFactors: best for mid-sized to large organizations seeking an all-in-one HR management platform.
• Oracle HCM Cloud: best for large, global enterprises with complex HR needs, especially those already using Oracle’s ERP systems.
• ADP Workforce Now: best for businesses needing scalable payroll, HR, and benefits administration solutions.
• Ceridian Dayforce: for businesses needing scalable payroll, HR, and benefits administration solutions.
• Ultimate Software UltiPro: best for comprehensive HR, payroll, and talent management with strong employee engagement tools.
• BambooHR: best for small to mid-sized businesses requiring easy-to-use HR software focusing on employee data and onboarding.
• UKG Ready: best for organizations with complex workforce management.
• Workforce.com: best for businesses with dynamic stafing needs, like hourly and shift-based workers.
• Paycor: best for small to mid-sized businesses looking for a cloud-based HCM software that integrates payroll.

Top 10 HCM Platforms

1. Workday

It is a cloud-based HCM platform designed for mid- to large-size enterprises. It covers HR, payroll, talent management, and workforce planning. With the real-time analytics and AI-powered tools, Workday optimizes decision-making in areas like recruitment, payroll, and performance. Self-service features are available to employees through its user-friendly interface. Its scalable design makes it ideal for managing complex, global HR needs. 

Pros: 

• Workday is the unified platform that combines HR, payroll, financial management, and workforce planning
• The platform can scale from mid- and large-size businesses to larger global operations
• The mobile application is powerful and mirrors the capabilities of the desktop version, allowing users to manage tasks and access information on the go.
• Workday integrates well with other systems and platforms, offering APIs and pre-built connectors for a seamless workflow.
• Workday follows a continuous update model, which ensures that the platform remains current with the latest technologies, industry standards, and regulatory requirements.

Cons:

• Workday’s extensive range of features comes at a premium price, making it a substantial investment. This can be a barrier for smaller businesses or organizations with limited budgets.
• Implementing Workday can be an arduous process that requires significant planning, time, and resources. Organizations often need dedicated support and extensive training for a successful rollout.
• While flexible, Workday has limitations on customization options, which may restrict organizations with very specific or unique needs.
• Some users report occasional performance issues, including slower load times and system downtimes, which can affect productivity.

Price:

Pricing is available upon request only. However, it is estimated that for a small medium size company annual cost may run at $100 to $200 per employee, for larger businesses – up to $300. Setup costs for large businesses may be in the hundreds of thousand.

Reviews:

As a comprehensive productivity tracking tool, Traqq provides ethical employee monitoring. Some of Traqq features are: 

• Time tracking 
• Activity and productivity tracking
• Apps and websites monitoring
• Billable hours calculation
• Attendance and leave management 

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2. SAP Success Factors

The beauty and uniqueness of SAP SuccessFactors is that it pairs with SAP’s ERP systems and doubles as a versatile enterprise management tool. Moreover, it focuses on employee engagement and development and provides tools for goal-setting, performance management, and continuous learning. Real-time analytics make data-driven business decision-making a breeze for global operations As the platform is scalable, it ideally suits global enterprises. However, it is highly complex and pricey, which makes it a doubtful choice for smaller businesses​

Pros:

• SuccessFactors offers a full range of HR functionalities including core HR, payroll, recruiting, onboarding, performance management, learning and development, and succession planning. This ensures all HR needs are met within a single platform.
• The platform comes with powerful analytics and reporting tools that provide real-time insights into workforce data. Customizable dashboards and reports help HR professionals make data-driven decisions.
• SuccessFactors is suitable for organizations of all sizes, from small businesses to large enterprises. The system’s modular design allows companies to expand functionalities as they grow.
• The platform is known for its intuitive and user-friendly interface, which facilitates easy navigation and enhances user experience for both HR staff and employees.
• SuccessFactors offers comprehensive mobile capabilities, enabling users to access and perform key HR functions on the go via mobile devices.
• The platform supports multi-country payroll and compliance management, making it ideal for global organizations dealing with diverse regulatory requirements.
• SuccessFactors integrates well with other SAP solutions and third-party applications, providing flexibility and a seamless flow of information across different systems.

Cons:

• The extensive range of features and capabilities comes with a high price tag, which can be a significant investment. This might be a constraint for smaller organizations or those with limited budgets.
• Implementing SuccessFactors can be complex and time-consuming, often requiring extensive planning, resources, and support. The complexity increases with the number of modules being deployed.
• While the platform offers considerable flexibility, there are limitations on customization. Organizations with very specific needs may find it challenging to tailor the system precisely to their workflows.
• Some users have reported issues with system performance, including slow response times and occasional downtimes, which can hamper productivity.
• The breadth and depth of functionalities in SuccessFactors mean that there can be a steep learning curve, particularly for advanced features. Comprehensive training is often required to maximize the benefits of the platform.

Price:

Pricing is unavailable. However, based on customer reviews for mid-market and large enterprises, the price is 30% above the average. 

Reviews:

3. Oracle HCM Cloud

Oracle offers a complete cloud HCM solution—from employee experience to HR and benefits, to talent management and recruiting, to workforce management, payroll, and analytics. Oracle’s workflows are tailored to each employee, are accessible across several devices, and supported by digital assistants and conversational UIs. It pairs HR functionality with overall business goals as it is part of Oracle Cloud Applications.

Pros:

• Oracle HCM Cloud offers straightforward and streamlined processes, making it easier to navigate through different HR functionalities.
• The platform boasts an interface that aims to minimize complexity, allowing users to perform tasks without extensive training.
• It provides a comprehensive suite of tools for efficient management of HR operations, including talent management, payroll, and workforce analytics.
• Oracle HCM Cloud includes various features designed to assist HR departments in making more informed decisions, ultimately improving overall productivity.

Cons:

• Despite its simplicity and ease of use, some users report that Oracle HCM Cloud is not very user-friendly, suggesting areas for improvement.
• The platform has restrictions on the level of customization, which can be a downside for organizations with specific needs.
• The design and user interface of the platform have been cited as subpar, influencing the overall user experience negatively.

Price: 

As it is often the case with HCM software, Oralce HCM does not make prices public. However, according to reviews, it is 30% above industry average. 

Reviews:

4. ADP Workforce Now

ADP Workforce Now is a comprehensive cloud-based HR suite built on a single database and featuring human resource management, payroll, benefits, talent management, time and labor management, learning and analytics. It also simplifies tax compliance.  ADP Workforce Now offers tools not just to track HR information, but also to help manage workforce. As the business grows, more funcionality can be added to meet the new needs. ADP Workforce Now supports mobile access, so that HR tasks can be managed on the go. Talent management features serve to attract and retain top talent.

Pros: 

• Comprehensive HR capabilities including expert HR advice, salary benchmarking, and training oppotrunities
• Ease of use: once you get familiar with the system, it gets user-friendly and you can easily navigate across various functionalities – payroll, recruitement, and time management
• Its mobile app is simple and offers easy access to basic employee information

Cons:

• Some users complain about slow service response
• Mobile app is an abridged version of desktop and lacks some important features
• The system can be underutilized for lack of proper training
• Training can be overwhelming

Price:

Available upon request only.

Reviews:

5. Ceridian Dayforce

Dayforce is a comprehensive single application that unifies payroll, benefits, workforce management, human resources, talent management, and analytics. Dayforce provides businesses with real-time, data-driven insights on the entire workforce lifecycle. It enables companies to hire the right talent, manage work schedules, support and promote employee development, process payroll and benefits, and monitor compliance.

Pros:

• Offers a single, comprehensive solution for HR, payroll, benefits, workforce management, and talent management. This integration reduces the complexity and enhances the efficiency of managing various HR functions.
• One of the standout features of Dayforce is its real-time data processing. This capability ensures that HR professionals and managers have up-to-date information for decision-making, enhancing accuracy and responsiveness.
• Includes robust compliance management tools, ensuring that organizations can easily adhere to ever-changing labor laws and regulations. This reduces the risk of non-compliance and associated penalties.
• Many users find Dayforce to be user-friendly, with an intuitive design that simplifies navigation and usability, reducing the learning curve for new users. – Scalability: The platform is designed to scale with growing businesses, making it a good fit for both small organizations and large enterprises.

Cons:

• Implementing Dayforce can be complex and time-consuming, requiring significant effort and resources. This may pose a challenge for smaller organizations with limited IT capabilities.
• The comprehensive nature of Dayforce often comes at a higher price point compared to other HCM solutions, which might be a barrier for budget-conscious organizations.
• Some users have reported issues with customer support, indicating a need for improvement in response times and the quality of assistance provided.
• Similar to other HCM solutions, Dayforce has limitations in terms of customization, which can be restrictive for organizations with unique or specific requirements.

Price: 

Available upon request only.

Reviews:

6. Ultimate Software UltiPro

UltiPro, a cloud-based Human Capital Management (HCM) software designed as a unified platform to manage HR, payroll, talent acquisition, compensation, and time tracking. It is called an “end-to-end” HCM software for a reason. It automatically tracks all HR-related information, including employment history, performance, job and salary information, career development, and health and wellness programs. It meets HR requirements of businesses of any size and sector and checks all the boxes – personalized onboarding, employee information management, powerful tools for compensation, performance review, and succession planning. Moreover, it includes a highly configurable web portal that allows employees to get access to personal information, select benefit, request leave, and view pay stubs.

Pros:

• UltiPro offers a wide range of features covering payroll, HR, talent management, and more, providing an all-in-one solution.
• The platform is known for its intuitive and easy-to-navigate interface, which enhances user experience.
• UltiPro includes advanced reporting and analytics tools, allowing users to gain valuable insights into their workforce.
• It’s suitable for organizations of all sizes, from small businesses to large enterprises, offering scalable solutions to meet growing needs.
• Users often commend UltiPro for its reliable and responsive customer support services.

Cons: 

• Time management solution needs additional features to cater to the requirements of large organizations.
• Users have asked for some more user-defined fields in recruiting.
• Tax filing service requires improvement.
• Business intelligence is not up to the mark.
• The time and attendance tool is not very straightforward to understand.

Price:

Available upon request.

Reviews:

7. BambooHR

BambooHR is a go-to source of HR solutions, capabilities, and integrations in one platform that runs on a single data source. It allows to:

• Manage employee data and gather valuable insights.
• Find, hire, and onboard the best talent.
• Simplify payroll, track hours, and manage benefits.
• Measure the employee experience and performance.
• Connect additional tools through pre-built integrations.

HR data and reporting, hiring and onboarding, payroll, time, and benefits, employee experience and perfomance – all under one roof. The platform is updated regularly as new features and integrations are added every month.

Pros:

• Employees can easily view payroll and benefit balances.
• Automated task assignment during these processes saves time and streamlines employee transitions.
• User-Friendly UI Design.

Cons:

• Limited flexibility, in particular the inability to customize ENPS questions or holiday policies, leaves users feeling constrained
• Users find the reporting system lacks required sophisitcation, which complicates customized and detailed reporting
• Issues have been reported related to integrating BambooHR with other platforms, like ADP WorkforceNow

Reviews:

8. UKG Ready

UKG Ready is an intuitive, centralized solution for small to mid-sized businesses with over 200 employees. It ticks all the boxes, from HR, benefits, and payroll to talent, time, shift swapping, and scheduling. The software enables your workforce to be more productive, make more informed decisions, and do that faster. As they say, UKG Ready is a software for those businesses where “everyone wears multiple hats.” 

Pros:

• It offers a full suite of HCM tools, including time and attendance, payroll, recruiting, onboarding, performance management, and more. This integrated approach facilitates seamless data flow across different HR functions.
• The platform is praised for its intuitive and user-friendly interface, making it easy for both HR professionals and employees to navigate and use
• UKG Ready is highly scalable and flexible, making it suitable for small, medium, and large enterprises. Its modular design allows businesses to adopt only the functionalities they need and expand as requirements grow.
• The platform provides robust reporting and analytics capabilities, offering actionable insights to help make informed decisions. This includes customizable dashboards and automated reports.
• UKG Ready features a strong mobile application that enables managers and employees to access essential functionalities on the go. This enhances convenience and ensures productivity even outside the office

Cons:

• Implementing UKG Ready can be a complex and time-consuming process, requiring significant planning and resources. Businesses may need dedicated implementation support and training.
• While competitive, the cost can still be a concern for smaller businesses or startups. The pricing may seem high, especially for organizations that only need basic functionalities.
• Some users have reported occasional system performance issues, including slow processing times and downtime, which can disrupt daily operations.
• Despite its flexibility, UKG Ready has some limitations in terms of customization, which can hinder tailoring the platform to specific organizational needs or processes.
• While the basic functionalities are user-friendly, the more advanced features may have a steep learning curve, requiring additional training for users to fully utilize them.

Price:

Available only upon request

Reviews:

9. Workforce.com

The Workforce.com HCM system packs powerful functionality for daily HR needs and payroll. The platform is an HCM system for hourly workers. It allows HR managers and employees to manage onboarding, schedules, attendance, timesheets, performance, tasks, and more withing a single system. 

It has both a mobile app and a desktop portal, allowing to keep track in real time of when and where employees work, labor costs, time-off, and employee engagement. The system automatically generates and approves payroll-ready timesheets through a GPS-located mobile time clock. 

Workforce.com has offices in the United States, the United Kingdom, Australia, Italy, Uruguay, and the Philippines, and over  8,000 customers worldwide. 

Pros:

• Workforce.com focuses specifically on workforce management tasks such as scheduling, time tracking, and attendance, making it highly specialized.
• The platform is easy to use, with a clean interface that simplifies the user experience.
• Workforce.com offers strong mobile capabilities, allowing employees and managers to access the system and perform tasks on the go.
• The platform provides real-time information on schedules and attendance, improving decision-making and operational efficiency. – Excellent Support: Users often praise the platform for its responsive and helpful customer support.

Cons:

• Unlike more comprehensive HCM solutions, Workforce.com is more focused on workforce management and may lack broader HR features.
• Integrating Workforce.com with other HR systems can be challenging and may require additional technical support.
• While competitive, the price can still be a concern for smaller businesses or those with limited budgets.
• Users may find limited options for customization, which can be a drawback for organizations with specific needs.

Price:

Though the price is available only upon request, industry reviews point out that the cost is on average 23% below competing vendors.

Reviews: 

10. Paycor

The image taken from the vendor’s website tells it all about the system’s capabilities. It covers HR and payroll software, talent acquisition and talent management, including recruiting, automated talent sourcing and onboarding, talent workforce management and benefits administration, compliance solutions, and more. It is aslo an award-winning HCM system for ease of use and comprehensive coverage of all HR needs.

Pros:

• Paycor offers a wide range of HR features including payroll, time and attendance, onboarding, and benefits administration.
• The platform boasts an intuitive, easy-to-use interface that simplifies navigation and reduces the learning curve.
• Paycor’s solutions are scalable, making it suitable for businesses of varying sizes.
• Many users appreciate Paycor’s responsive and knowledgeable customer support.
• The platform includes robust self-service capabilities for employees, enhancing engagement and reducing administrative burden for HR.

Cons:

• Similar to other platforms, Paycor has limited customization options, which can restrict tailoring the system to specific organizational needs.
• Some users feel the reporting tools are not as advanced or flexible as those offered by other platforms.
• The initial setup and implementation can be complex and time-consuming, requiring dedicated resources.
• Users have reported occasional performance issues, such as slow processing times and system downtimes.

Reviews: