What Does Human Capital Management Software (HCM Software) Mean?
Human capital management software (HCM software) refers to applications that are intended to help an organization manage and maintain its workforce. Generally speaking, human capital management software is considered to be enterprise class software that can scale up and automate processes like payroll, performance reviews, recruiting and training.
Human capital management software is also referred to as a human resource management system (HRMS) or human resource information system (HRIS).
Techopedia Explains Human Capital Management Software (HCM Software)
Human capital management software is essentially a combination of different software. Instead of having payroll software, time-sheet software, productivity analytics software and so on, human capital management software integrates all those functions into one platform. Moreover, HCM software claims to be able to help an organization plan future staffing needs by sharing information with other enterprise software such as enterprise resource planning (ERP) software. HCM software may be sold as a stand-alone application or as part of a larger enterprise solution.
Enterprise Human Capital Management, Human Resource Information System (HRIS), Human Resource Management System (HRMS)