HRO Today and Alexander Mann Solutions Release Quarterly HR Technology Report

PHILADELPHIA - June 12, 2019 - PRLog -- The rate of new technologies being developed and the number of companies providing them is increasing exponentially each year. The data in this report reveals critical information about new technologies, their applications, and the companies offering them in human capital management (HCM) technology sector, covering areas such as recruitment, employee records performance, learning, compensation management, and compliance.

In the first quarter of 2019, there were 68 major technology announcements, nearly double the 36 announced in the first quarter of 2018.  Private equity and venture capital firms continue to invest heavily in HR technology, and major merger and acquisition activity took place throughout the quarter.  Investment deals for the quarter hit over $2.2 billion dollars, with $1.5 billion dollars of the total funding going to Infor, whose services include a cloud-based ERP and HCM systems.  The $2.2 billion dollar figure excludes SAP's acquisition of Qualtrics for $8 billion dollars and Ultimate Software's transition from publicly held to a private company, which was a transaction of $11 billion dollars.

"In the first quarter of 2019, there were six product or funding announcements related to enterprise resource planning (ERP) technology, which includes human capital management (HCM)," says Larry Basinait, vice president of market research at SharedXpertise.  "Forward-thinking organizations will begin exploring the potential of these combined platforms more frequently as they reexamine their system infrastructures and needs for the future."

With new technologies being developed and features being added to existing technology, there appears to be less friction between departments to allow for greater cross-collaboration.  In addition, the increased use of machines and artificial intelligence has opened the door for greater automation of employee positions, which allows for certain functions to be done digitally.

"In today's technology-driven economy, HR can't afford to fall behind in getting their workforce prepared for digital transformation," says Laurie Padua, joint managing director of Talent Collective, the consulting division of Alexander Mann Solutions.  "Many leading businesses have made this digital transformation their priority, but as artificial intelligence tools and automated programs infiltrate the workplace, we need professionals to be comfortable working with and deploying tasks to machines."

To read the full overview of first quarter developments and learn about where HR technology is predicted to advance in 2019, click here to download the full report: https://form.jotform.com/91413609319154

About Alexander Mann Solutions
We are Alexander Mann Solutions and we're passionate about helping companies and individuals fulfill their potential through talent acquisition and management. Today, over 4,000 of our talent acquisition and management experts partner with more than 100 blue-chip organizations, operating in 40 languages, and over 90 countries. We deliver a distinctive blend of outsourcing solutions and—through Talent Collective—a full range of consulting and specialist services. We provide unrivalled experience, capability and thought leadership to help clients attract, engage and retain the talent they need for business success.

About HRO Today
HRO Today is the property of SharedXpertise Media and offers the broadest and deepest reach available anywhere into the HR industry. Our magazines, web portals, research, e-newsletters, events and social networks reach over 180,000 senior-level HR decision-makers globally with rich, objective, game-changing content. Our No. 1 strength is our reach. HR leaders rely heavily on the HRO Today's Baker's Dozen rankings across six different categories when selecting an HR service provider.