Corporates are witnessing a significant rise in their HR technology budgets with 56 per cent of all Asia-Pacific organisations planning to increase their spend in this segment, says a survey.
"More than 40 per cent of all Asia-Pacific organisations and 50 per cent of India-based organisations are looking at improving or developing a new enterprise HR Systems Strategy this year," the Sierra Cedar HR Tech Landscape Study for Asia said.
Almost 56% of all Asia-Pacific organisations are planning to increase their HR technology spending this year, the study added.
Across the Asia-Pacific market, overall HR technology adoption is maturing rapidly and is moving beyond initial investments in payroll talent management, workforce management and even business intelligence applications.
"Like all regions, the Asia-Pacific market is seeing an increased adoption in Cloud/SaaS HR Systems: just 18 per cent of Asia-Pacific organisations have a Cloud-based HRMS today, but 33 per cent plan to have one in the next year," the report added.
One of the reasons driving many organisations to adopt new Cloud-based HR technology is the desire to implement emerging technologies that are more readily found in Cloud environments, such as embedded analytics, Mobile capabilities, and integration with Social platforms.
"Improved HR analytics and reporting is definitely on the minds of the 44 per cent of Asia-Pacific organisations that plan to increase their HR data analytics roles this year," the report, launched at SHRM India HR Tech'17 Conference, said.
SHRM India partnered with Sierra Cedar to help the compilation of the Asia-Pacific region data points through its membership database.
The Sierra-Cedar 2016 2017 HR Systems Survey White Paper is based on 1,528 unique organisations representing a total workforce of 20.6 million employees and contingent workers.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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