2019 Human Resources Software Market Update
- November 4, 2019
Survey says...Healthy but less enthusiastic industry demand
Oppenheimer analysts attended the 22nd annual Human Resources (HR) Technology conference in Las Vegas and interviewed HR software buyers and suppliers (i.e., customers, vendors, system integrators) to assess secular trends, technology, product demand, value-proposition, competition, and other industry trends and opportunities. Overall, the survey trend-lines and the tone of business from their checks were healthy, though they detected a less upbeat vibe for business momentum than at the 2018 HR Technology conference.
The survey and conference checks look most promising for Paycom Software, a leading SaaS-based vendor of Human Capital Management (HCM) and payroll solutions. Oppenheimer analysts view Paycom as the best SaaS HCM software provider to own for the future because it is a sales machine that has good structural advantages and high profit margins.
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