The announcement that we have signed a definitive agreement to acquire Spectrum Human Resource Systems Corporation continues the momentum in what has been a very positive growth year for Epicor. The strong success of Epicor 9 in our traditional markets, as well as in the new verticals and geographies we are targeting, identified a consistent, broader interest for integrated human capital management (HCM) that is not currently being met by standalone or traditional embedded HR applications.
With Spectrum, Epicor can now deliver a full-featured, highly configurable, end-to-end HR solution that extends well beyond basic employee and personnel management to include self-service, benefits and compensation, position control, training and development, org charting, performance reviews and succession planning.
Over the past few years we have seen a significant increase in the emphasis organizations are placing on the strategic value of HR. Recruitment and on-boarding certainly remain critical to high growth organizations, but more and more, given the challenging economy, companies are focused on building processes and practices that can allow them to more strategically leverage, manage, and measure their human capital.
In the drive to increase productivity, companies are focusing on all aspects of the employee lifecycle and investing in building a more strategic view of talent and personnel across the enterprise. With more decentralized operations and an increasingly mobile workforce, the value of aligning and measuring employee skills, capabilities, and performance with strategic business goals and metrics can be invaluable.
Spectrum provides Epicor with an opportunity to expand its leadership position into the growing HCM sector. It also will provide our global customers with an integrated HCM solution that meets the needs of midmarket companies in search of a “one-stop shop” for managing their workforce records, transactions, reporting, and compliance. In addition to being embedded with our ERP and retail offerings, Epicor HCM will also be available as a standalone, best-in-class solution. Like Epicor, Spectrum saw the value of re-architecting its HR applications to leverage the web and collaboration and in 2009 released its next generation iVantage application, a highly functional, web-native HR solution, built on Microsoft .NET. As part of this re-architecture and with organizations looking for additional freedom of choice around deployment options, Spectrum also delivered a solution that can be provided on-premise or on-demand on a per employee basis.
We’re excited about this acquisition and our new offering -- Epicor Human Capital Management (HCM) . On completion of the acquisition, we will not only have added a strong, next-generation HCM solution, which we intend to extend across all the industries and global markets we serve, we will have added a dedicated team of technology and HR experts that understand the value and competitive advantage that organizations gain with products that can more effectively leverage their intellectual and human capital.
Posted by John Hiraoka, EVP & CMO, Epicor