Workforce management software (WFM) can be defined as a solution that primarily helps companies maintain a productive workforce. The major functions of WFM include labor planning & scheduling, time & attendance, payroll & benefits, performance reporting, and dispatching workforce.
The major drivers for WFM are flexibility offered for Retail managers for superior business forecasting, integrated task management, and well planned work schedule). Also, it provides perfect business condition to ensure smooth workflow for retail companies. Moreover, current economic condition is driving retail companies to cut down costs across the lines. Labor cost constitutes the second largest operational cost for the retail industry (merchandising cost being the first). At the same time, retail companies are expected to provide better customer service to retain their customers. ((WFM’s ability to reduce labor cost and increase customer service by ensuring that the company has right employee at the right time and at the right place is primarily driving the retail industry to adopt WFM solutions. Further, WFM also helps companies engage correct employees and provide proper training; thereby, increasing productivity of an employee.
The report forecasts the size of Global Workforce Management Software Market over the period 2008-2012. It also discusses various factors that are driving the retail industry to adopt Workforce Management Software. Further, it includes key market trends, drivers and challenges of the Global Workforce Management Software Market, and also profiles some of the key vendors operating in this market.
TechNavio Insights is a set of reports based on TechNavio – a market intelligence platform for the IT industry. It builds on the intelligence available within TechNavio, and leverages on the custom research experience of the 'Technology Navigators'. TechNavio is built on years of experience of Infiniti Research in deep dive custom research and consulting for over 30 Fortune 500 companies and numerous large and mid-sized companies.
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