Human capital management (HCM) Market provides solutions to streamline human resource functions, which include the management of employee profile, time & attendance, payroll & compensation, benefits & perks, training & development, and workforce analytics. Several key industry players, such as Cornerstone OnDemand, Kronos, SAP SE, and IBM Corporation, offer solutions to cater to the need of process automation for various user types, including small & medium enterprises (SMEs) and large enterprises. Moreover, compared to on-premises and other traditional alternatives, adoption of cloud-based HCM solutions is on an increase due to benefits such as low cost of deployment, reduced maintenance expenses, unlimited storing capacity, and remote access through web and mobile from any place, and at any time.