As companies scale quickly, managing people and operations efficiently becomes essential. Modern human capital management (HCM) systems provide integrated tools to optimize HR processes for rapidly expanding businesses.
This article explores the top 10 HCM and ERP platforms to support your workforce needs amid high growth and fast change.
What Do HCM and ERP Systems Stand For?
HCM and ERP are two types of business software that help manage key organizational functions. HCM stands for Human Capital Management, while ERP stands for Enterprise Resource Planning.
While HCM focuses specifically on people operations, ERP takes a broader scope across the business. However, HCM systems may integrate with ERP solutions to connect HR data with other business systems for deeper insights.
HCM software covers the HR aspects of managing people in an organization. This includes functions like:
- Recruiting and talent acquisition
- Payroll and compensation
- Training and development
- Benefits administration
- Employee data management
- Performance management
ERP software integrates business processes across multiple departments. Typical ERP functions include:
- Financial management
- Supply chain management
- Accounting
- Manufacturing planning
- Inventory control
- Sales management
- CRM
- Project management
ERPs consolidate these functions into integrated systems for better coordination and data sharing across an enterprise. This improves efficiency and provides organization-wide reporting.
Why High-Growth Companies Need HCM Systems
With business accelerating, HR teams face heightened demands for onboarding larger volumes of employees smoothly, developing and retaining top talent, gaining workforce insights through analytics, ensuring compliance as regulations change, and delivering a positive employee experience.
Robust HCM software centralizes tools for challenges like these in one platform while integrating with existing infrastructure. Key capabilities like recruitment, payroll, learning, performance management, and data analytics save time and support strategic growth.
Top Factors in Selecting HCM Software
As you evaluate HCM systems for your company, focus on:
- Scalability: Cloud-based systems that flex with your shifting needs
- Integration: Ties into your tech stack like accounting, messaging.
- Analytics: Actionable insights from HR data to drive decisions
- Automation: Streamlining repetitive tasks like onboarding and policy updates
- User Experience: Intuitive tools employees enjoy using
10 Top Human Capital Management Systems for High-Growth Businesses
Managing people operations smoothly is crucial as companies scale rapidly. The right human capital management (HCM) system becomes essential. Leading HCM and ERP systems provide the capabilities growing organizations need – from automated onboarding tools to real-time analytics.
Read on for an overview of the top players in the HCM space facilitating strategic growth through effective people management.
1. Workday
Workday offers full-suite HCM solutions for enterprises. Real-time analytics help executives gain organization-wide talent insights—strong integration with existing finance and payroll systems.
2. BambooHR
BambooHR provides SMBs and growing companies with an intuitive, cloud-based HCM platform. It centralizes applicant tracking, onboarding, performance management, and analytics.
3. Oracle
Global enterprises rely on Oracle’s scalable, next-gen HCM and ERP tools. Real-time reporting provides data to optimize decision-making as you expand.
4. SAP SuccessFactors
SAP SuccessFactors features robust recruitment management, learning modules, compensation tools, and employee development planning for larger businesses.
5. UKG Pro
UKG Pro offers full HR, payroll, and talent management for midsized companies with dynamic teams. Scheduling, onboarding, and performance sync up in one solution.
6. Paychex Flex
Paychex Flex provides integrated HR, benefits, payroll, and compliance tools for businesses with up to 1,000 employees. Ideal for rapid hiring and employee growth.
7. Zenefits
Zenefits streamlines HR, benefits, and payroll in one customizable cloud platform. Small businesses can scale their capabilities as they expand.
8. Gusto
Gusto offers consolidated payroll, benefits, HR, and compliance for SMBs from hiring to retirement. The scalable platform easily adapts to workforce changes.
9. Paycom
Paycom’s single database HCM software centralizes applicant tracking, payroll, scheduling, and learning management for smoother people management.
10. Paylocity
Paylocity appeals to fast-growth companies with robust payroll and HR tools like talent acquisition, time tracking, and benefit enrollment and administration.
How Integrating HCM and ERP Systems Benefits Your Business
More organizations are integrating their human capital management (HCM) and enterprise resource planning (ERP) systems into unified platforms to manage people and operations efficiently.
Combining HCM and ERP unlocks significant benefits across your organization – from HR to finance, supply chain to manufacturing. Let’s explore some of the top ways this integration supercharges your business.
Breaking Down Information Silos
Integrating these systems breaks down information silos. HCM software contains employee data like salaries, titles, credentials, and performance metrics. ERP systems hold information on finances, inventory, supply chain, and manufacturing.
Linking HCM and ERP allows real-time information sharing across departments through a single source of truth.
Everyone makes decisions from the same up-to-date data instead of separate information silos. This boosts cross-functional collaboration.
Enhanced Analytics and Reporting
In addition, analytics and reporting are enhanced by workforce data flowing into general business reports. Executives gain a complete organizational view for deeper insights. They can track KPIs incorporating people and financial metrics to optimize performance.
Improved Workforce Planning
This integration also improves workforce planning capabilities. Operations leaders can forecast staffing needs based on production cycles, seasonality, and demand. HR gains the supply chain context to plan hiring, assignments, and schedules accordingly.
Smooth coordination between people operations and business workflows maximizes workforce utilization.
Increased Adaptability
A unified HCM-ERP platform increases business adaptability. You can rapidly adjust production planning while assessing workforce skills and availability. New hiring or reassignments can address emerging needs. This agility creates a real competitive advantage during disruption.
Enhanced Employee Experience
Employees benefit from a consistent system instead of separate portals. HR data integrated with operations workflow improves onboarding, training, and support. Managers also make decisions with employees, leveraging complete information.
In today’s market, businesses need agility and insights to compete. Integrating HCM and ERP systems accelerates capabilities through improved visibility, planning, and adaptability.
Conclusion
Rapidly scaling organizations have unique HR and people management demands. Modern human capital management systems provide high-growth companies the capabilities to onboard, develop, and optimize their expanding workforces efficiently.
By implementing intuitive, scalable HCM software, you gain integrated tools to drive strategic growth, even with fast-changing teams. Look for solutions that sync with your current tech stack while offering strong analytics, automation, and ease of use.
With the right human capital management platform, your processes can scale at the pace of your ambitions.
