Talent management system

[1] Whereas traditional HRMS and enterprise resource planning (ERP) systems focus primarily on transaction processing and the administration of basic human resources processes such as personnel administration, payroll, time management, etc., talent management systems focus on providing strategic assistance to organizations in the accomplishment of long-term enterprise goals with respect to talent, or human capital.

According to Bersin, talent management may be defined as the implementation of integrated strategies or systems designed to improve processes for recruiting, developing, and retaining people with the required skills and aptitude to meet current and future organizational needs.

Talent management system recently have been at the forefront of growth in the software as a service (SaaS) delivery market following earlier iterations in the standard HR systems space via application service provider (ASP) delivery models.

Many of these competitors have entered via the software as a service (SaaS) delivery model, affording small and medium businesses (SMB) new less-costly options.

The Gartner Magic Quadrants for Talent Management Suites compares the major players of this market each year; in 2018 ranking products included Cornerstone OnDemand, SAP's SuccessFactors, and Skillsoft's SumTotal systems.