Vendor Analysis
published on Jul 11, 2019
Report Overview:
This NelsonHall assessment analyzes Ramco's offerings and capabilities in Next Generation HCM Technology.
Who is this Report for:
NelsonHall’s HCM Technology Vendor Assessment for Ramco is a comprehensive assessment of the Ramco HCM platform offering and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of HCM technology and identifying vendor suitability for HCM technology RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the HR Technology sector
- HR and payroll decision makers.
Scope of this Report:
The report provides a comprehensive and objective analysis of Ramco’s Next Generation HCM Technology offering, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
Ramco Systems (Ramco), part of the Ramco Group of companies, which collectively represent ~$1bn in revenues, and headquartered in Chennai, India, is a provider of multi-tenant and mobile-based ERP software and services, including:
- HR and global payroll software and services
- Enterprise Resource Planning (ERP) systems
- Aviation software
- Logistics software
- Asset management software
Ramco Systems formed in 1992 as the R&D division of Ramco Industries Limited. Established as an independent company in 1997, Ramco began delivering payroll software and services using client-server architecture. In 2008, it began investing in cloud technologies as part of a company-wide strategy to move all proprietary software to cloud architecture and launched the cloud version of Ramco HCM as part of its cloud ERP offering. Ramco added its first cloud HCM client in 2009, and in 2013 Ramco HCM on cloud, a standalone product (the current offering), was released.
This profile focuses specifically on Ramco's HCM technology offering and capability. For a more comprehensive profile of Ramco's payroll services offering, please refer to Ramco - Next Generation Payroll Services.
Ramco's HCM solution is a cloud-based (SaaS) platform offering which includes modules and features to support the full employee lifecycle. Its platform has been built organically on a single database and single code line, and modules are integrated across the platform. It offers its cloud solution as a multi-tenant offering and can provide both public and private cloud options. It is also enabled with pre-built connectors and integrations, which can be developed based on client demand.
Ramco also offers its HCM platform as an on-premise installed option; currently, ~44% of clients have selected the on-premise version. However, this is gradually shrinking as more clients are moving toward the cloud version. Clients choosing the on-premise solution tend to be larger enterprise clients with >10k employees.
Ramco HCM currently consists of the following modules:
- Core HR
- Employee Benefits
- Time and Attendance
- Payroll
- Talent Management
- Recruitment
- Cross-platform features:
- Workflow management
- Employee and manager self-service (ESS/MSS)
- Mobile capability
- Reporting and analytics
- Integration Factory.
Ramco's HCM platform offering is flexible, allowing for modules to be selected separately or in bundles, however, core HR is required to adopt the other modules of Ramco HCM. Its most adopted and deployed modules include core HR, multi-country payroll, benefits, and time and attendance.
The Ramco platform is also extensible and flexible in supporting organizations in planning and managing their entire workforce including: regular, contingent and contract workers, including support for industry nuances. It enables users to handle complex scenarios in shift patterns, deviations, calculations in overtime and allocate compensation through straight through process linking time sheets to payroll and through to invoicing.
Ramco has >500 employees focused on the development and delivery of its HCM product; ~80% are directly focused on development, implementation, and support for Ramco HCM.
Implementations times for Ramco HCM range between three and six months, varying depending on modules deployed, complexity, countries, client volume, etc. Global payroll can extend this, depending on the number of countries being deployed. Implementation times are the same for on-premise and cloud.
Ramco delivers its HCM platform to ~600 clients and ~2.2m users across a diverse set of geographies, industries, and sizes. It currently produces >2m pay slips to employees in 45 countries. While it primarily targets multinational organizations in the middle market (those with >500 to 15k employees), its offering is capable of scaling down market as well as to the upper middle and large markets; its smallest HCM client has ~250 employees while its largest has ~25k employees. Below is an estimated breakdown of Ramco's HCM client base, by employee count.