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SAP's SwoopTalent IP Buyout to Boost SuccessFactors Portfolio
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SAP SE (SAP - Free Report) recently announced the acquisition of the intellectual property of SwoopTalent, which specializes in talent data intelligence. The financial terms of the deal have not been revealed.
SwoopTalent boasts a machine learning and artificial intelligence (AI)-backed platform that is capable of combining and analysing data from different human resource (HR) systems and workflows to boost decision making for HR teams and the overall company management, noted SAP.
SAP will utilize the platform to help business enterprises to get a constantly-updated view of employee profiles that includes capabilities, interests, and skills for better allocation of human resources to internal jobs, learning courses as well as projects.
SAP will be incorporating SwoopTalent’s proprietary data and machine learning technology across SAP SuccessFactors Human Experience Management (HXM) solutions’ portfolio. SAP SuccessFactors are cloud-based HXM solutions that manages functions like people analytics, core HR and payroll, employee experience management as well as talent management.
SwoopTalent’s co-founders Stacy Chapman and Satish Sallakonda and the start-up’s engineering team will become a part of the SuccessFactors team, noted SAP.
SAP has acquired AppGyver and Signavio so far in 2021. In February, the company acquired Finland-based AppGyver Oy, which is a no-code development platform helping clients (who know nothing about coding) create apps for mobile and web uses. Signavio is a well-known name in the business process intelligence and process management domain.
According to a Mordor Intelligence report, the worldwide human capital management (HCM) software market is likely to witness a CAGR of 6.7% between 2021 and 2026 and reach $24.64 billion. The increased requirement to handle scattered workforce owing to remote work trend and adoption of hybrid work policy induced by the pandemic is providing further impetus to the HCM market.
These projections augur well for SAP. The company’s cloud-based SAP SuccessFactors HXM solutions are gaining substantial traction. SAP’s SuccessFactors HXM solution ended 2020 with more than 900 customers. SuccessFactors Employee Central solutions form the mainstay of the company’s HXM offerings.
In Dec 2020, SAP added a new cloud-based offering with intuitive user interface — the SAP SuccessFactors Time Tracking — to its SAP SuccessFactors HXM portfolio. The solution will help business enterprises record and monitor the time worked by employees as well as pay them accurately on time and in compliance with local regulatory requirements.
However, stiff competition in HCM space from the likes of Workday (WDAY - Free Report) , Oracle (ORCL - Free Report) and Automatic Data Processing (ADP - Free Report) is a persistent concern for SAP.
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SAP's SwoopTalent IP Buyout to Boost SuccessFactors Portfolio
SAP SE (SAP - Free Report) recently announced the acquisition of the intellectual property of SwoopTalent, which specializes in talent data intelligence. The financial terms of the deal have not been revealed.
SwoopTalent boasts a machine learning and artificial intelligence (AI)-backed platform that is capable of combining and analysing data from different human resource (HR) systems and workflows to boost decision making for HR teams and the overall company management, noted SAP.
SAP will utilize the platform to help business enterprises to get a constantly-updated view of employee profiles that includes capabilities, interests, and skills for better allocation of human resources to internal jobs, learning courses as well as projects.
SAP will be incorporating SwoopTalent’s proprietary data and machine learning technology across SAP SuccessFactors Human Experience Management (HXM) solutions’ portfolio. SAP SuccessFactors are cloud-based HXM solutions that manages functions like people analytics, core HR and payroll, employee experience management as well as talent management.
SwoopTalent’s co-founders Stacy Chapman and Satish Sallakonda and the start-up’s engineering team will become a part of the SuccessFactors team, noted SAP.
SAP has acquired AppGyver and Signavio so far in 2021. In February, the company acquired Finland-based AppGyver Oy, which is a no-code development platform helping clients (who know nothing about coding) create apps for mobile and web uses. Signavio is a well-known name in the business process intelligence and process management domain.
SAP SE Price and Consensus
SAP SE price-consensus-chart | SAP SE Quote
Booming HCM market Underscores Revenue Potential
According to a Mordor Intelligence report, the worldwide human capital management (HCM) software market is likely to witness a CAGR of 6.7% between 2021 and 2026 and reach $24.64 billion. The increased requirement to handle scattered workforce owing to remote work trend and adoption of hybrid work policy induced by the pandemic is providing further impetus to the HCM market.
These projections augur well for SAP. The company’s cloud-based SAP SuccessFactors HXM solutions are gaining substantial traction. SAP’s SuccessFactors HXM solution ended 2020 with more than 900 customers. SuccessFactors Employee Central solutions form the mainstay of the company’s HXM offerings.
In Dec 2020, SAP added a new cloud-based offering with intuitive user interface — the SAP SuccessFactors Time Tracking — to its SAP SuccessFactors HXM portfolio. The solution will help business enterprises record and monitor the time worked by employees as well as pay them accurately on time and in compliance with local regulatory requirements.
However, stiff competition in HCM space from the likes of Workday (WDAY - Free Report) , Oracle (ORCL - Free Report) and Automatic Data Processing (ADP - Free Report) is a persistent concern for SAP.
At present, SAP carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.