The tough economy has hit IT budgets hard, but there’s one area where many companies continue to invest, and it might surprise people. According to a new Towers Watson survey, 83% of respondents said they are maintaining or increasing spending on HR software in 2010.
That’s just one eye-opening result from Towers Watson’s recently completed survey of 456 companies, two-thirds of which have more than 5,000 employees. Although other areas of software often top the trendy list (think social networking), that survey finding and others show that the market for human resource management software is also quite dynamic.
Tom Keebler, global practice leader for HR technology at research firm Towers Watson, presented the survey during a June 23 webinar hosted by Workday and moderated by Bill Kutik, co-chair of HR Technology Conference and joined by Leighanne Levensaler, Workday’s vice president of HCM strategy.
Here are some more choice bits:
So there you have it: investment on HR technology is strong, more and more of it is on SaaS-based HR software solutions, and there’s far more to SaaS than lower costs. You can view Tom’s presentation for more of the data, above. Thanks to Tom Keebler and the team at Towers Watson for providing some very interesting insights.