HR tech budgets likely to rise across Asia-Pacific market
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, but 33% plan to have one in the next year," the report added.