Ventana Research Releases Workforce Management Value Index
Independent analysis of software rates technology providers on efficiency and effectiveness of workforce management across seven product and customer experience evaluation categories
Ventana Research today released its 2022 Value Index on Workforce Management, a quantified, research-based index evaluating technology providers and products. This Value Index assesses 13 vendors’ products using our Ventana Research methodology and blueprint, evaluating software in seven key categories that are weighted to reflect buyers’ needs based on our expertise and research. The Value Index is designed to ensure that it provides objective research and guidance to organizations looking to assess and evaluate their applications for business and IT needs.
Workforce management (WFM) processes and activities, a major focus of investment and optimization efforts for decades, have undergone a huge transformation in recent years. In our view, this is mostly a function of two significant trends: the explosion of technology innovation associated with leveraging AI/ML and embedded analytics in many areas of a business including a range of HCM processes and operations, and a major reframing of the employer/employee relationship stemming from the now universal emphasis on elevating the employee experience (EX). This was becoming more of a strategic focus across most organizations before the pandemic, but the last two years has made delivering a great EX as an essential part of operating a business. In the absence of this, employees tend to become disengaged and many will leave. The same can be true of the customers serviced by those workers.
Our purpose in conducting this research was to evaluate the readiness of software vendors and products and their value for enterprise use in workforce management. Nothing in this report of our research is intended to imply that one vendor or product is the right choice for any particular organization. Rather, it provides a baseline of knowledge that organizations can use to evaluate vendors and products to manage and improve workforce management.
This Value Index report evaluates the following vendors that offer products delivering workforce management solutions as we define it: ADP, Ascentis, Blue Yonder, Ceridian, Infor, Oracle, Paychex, Paycom, SAP SuccessFactors, UKG, Workday, Workforce Software and Zebra Technologies.
The Value Index for Workforce Management in 2022 finds UKG first on the list with Workforce Software in second place and ADP in third. Companies that place in the top three in any category earn the designation Value Index Leader. Oracle and SAP have done so in four of the seven categories, Ceridian and Workday have done so in two categories, and Ascentis in one category. The Value Index leaders for overall product experience across five categories are Ceridian, UKG and Oracle. Leaders in customer experience across two categories are SAP SuccessFactors, Workforce Software and UKG.
The Value Index, through the thorough analysis of product and customer experience, has categorized vendors into four classifications: Exemplary, Innovative, Assurance and Merit. The vendors awarded Exemplary are Ceridian, UKG, Oracle, SAP, Workforce Software and Workday. The vendor awarded Innovative is ADP. The vendor awarded Assurance is Ascentis. The vendors awarded Merit are Blue Yonder, Infor, Paychex, Paycom and Zebra. Criteria for inclusion in the Value Index include minimum annual revenue, countries of operations and product areas of support for workforce management software, which are outlined in more detail within the report.
“Our analysis of workforce management software found that many vendors are focusing on bringing advances in AI/ML directly into the forecasting and scheduling process to allow it to reflect both labor supply and demand data in real time,” said Steve Goldberg, Vice President and Research Director of Human Capital Management at Ventana Research. “Workforce management has evolved to incorporate employee interests, needs and goals much more into scheduling processes. We congratulate all the participants.”
Unlike many IT analyst firms that rank vendors from an IT-only perspective or consider futures or vision over what is available in the products today, Ventana Research has designed the Value Index to provide a balanced perspective of vendors and products that is rooted in an understanding of business drivers and needs. This approach not only reduces cost and time but also minimizes the risk of making a decision that is bad for the business. Using the Value Index will enable your organization to achieve the levels of efficiency and effectiveness expected and hoped for when investing in workforce management technology.
"I am excited to bring the latest Value Index for Workforce Management to market, research that is essential for every organization to effectively manage and operate the workforce of hourly and scheduled workers," said Mark Smith, CEO and Chief Research Officer. "Our firm endures to ensure effective market coverage on categories of software that are essential for every organization, and workforce management enables managers and workers to operate towards the expected activities and tasks that are assigned. The Value Index provides a guide for organizations to effectively assess and evaluate vendors that best fit their requirements for workforce management."
The Workforce Management Value Index is neither sponsored nor influenced by technology vendors and is conducted solely in pursuit of Ventana Research's mission to provide value to business and IT through advisory services, benchmark assessments and workshops. Ventana Research's goal is to help guide organizations to optimal efficiency in their use of technology investments for business and IT. To learn more and read the market report of the 2022 Value Index for Workforce Management, please click here.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including Benchmark Research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This Benchmark Research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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Ventana Research is the most authoritative and respected market research and advisory services firm focused on improving business outcomes through optimal use of people, processes, information and technology. Since our beginning, our goal has been to provide insight and expert guidance on mainstream and disruptive technologies. In short, we want to help you become smarter and find the most relevant technology to accelerate your organization's goals.