Performance appraisal and management software is an application which helps in assessment of performance and appraisal management. The analysis of employees abilities and skills is a prime advantage of performance appraisal and management software.
Portland, OR -- (SBWIRE) -- 09/25/2017 -- Rise in need of simplified, effective, and unbiased performance appraisal system and process by the organizations majorly drives the performance appraisal and management software market. However, privacy and security of the data related to the employees are prime concerns in the adoption of the software. Further, the need for replacement of the old and traditional systems makes way for growth opportunities for the market.
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The successful implementation of the performance appraisal and management software within the organization with scalable results is the prime challenge for the market growth.
The market is highly dominated by key players such as Oracle Corporation, Saba Software Inc., and SuccessFactors Inc. and is fragmented owing to presence of the diversified players in the market. The vendors compete on the basis of price owing to low degree of variation in the product. The Oracle Corporation acquired Moat Inc. to create a cloud-based performance appraisal and management software on April 2017, which is anticipated to boost its market share in the performance appraisal and management software market.
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