ERP Modules

All About the Human Capital Management ERP Module

Some Enterprise Resource Planning or ERP solutions offer a Human Capital Management (HCM) module.  HCM ERP modules may also be referred to as Human Resource or Human Resource Management or Human Resource Management System (HRMS) or Employee Resource Management (ERM).   An HCM ERP module enables businesses to manage all activities associated with their human resources or employees.  Some general functionality that many HCM ERP modules provide includes:
•    Employee evaluations
•    Performance reviews
•    Employee leaves
•    Attendance
•    Benefits
•    Employee profit sharing
•    Employment equity
•    Group insurance
•    Employee compensation
•    Employee assignment tracking
•    Employee promotions
•    Employee retirement tracking
•    Employee training
•    Employee vacation tracking
•    Employee equipment tracking (lap tops, phones, cars)

The Human Capital Management ERP module is a very popular module that is integrated with other modules of an Enterprise Resource Planning solution.  However, the HCM module can be purchased as an individual module or stand along solution.  When an HCM ERP module is integrated with a Finance or Payroll module, payroll reports can be created along with employee paychecks.   Some Human Capital Management ERP modules offer payroll functionality as part of the solution.  Some Human Capital Management vendors and the names of their HCM solutions are:
•    SAP – SAP ERP HCM
•    Oracle – Oracle HRMS
•    Workday – Workday Human Capital Management
•    Microsoft – Microsoft Axapta Human Resource Management
•    Salesforce.com – Salesforce.com HR
•    Epicor – Epicor Human Resource Management
•    Infor – Infor HCM
•    Sage – Sage Accpac HRMS
•    NetSuite – NetSuite Employee Resource Management

Infor, Sage, SAP, Oracle and Microsoft are the current market leaders and control most of the HCM market.  Salesforce.com, NetSuite and Workday provide offer Capital Management SaaS (Software as a Service) solutions.  There are also several open source HCM solutions on the market today.  Some popular open source Human Capital Management solutions are:
•    Opentaps
•    Compiere
•    ERP5
•    OpenPro

With so many Human Capital Management solutions on the market today, make sure to define your business requirements before shopping for a solution.  All HCM solutions vary in some way.  Some are more robust than others and some are built for certain sized businesses.  Taking your time to evaluate all suitable Human Capital Management solutions will prove to be time well spent.

Written by :

kristine H