I thought a lot about how the recession will affect the HRIS software industry. This is the problem that keeps new business owners at night.
Anyone who has worked in the human resource management software hong kong industry for any period of time knows that they will sell less HRIS systems in a weak economy than in a strong economy. I sold my HRIS software reseller business a month ago.
But over the past year, we have lost several agreements directly related to the housing crisis here in Florida and the United States. I am sure that all our HRIS software vendors or sales representatives could offer similar examples.
Different HRIS software companies face different risks, while the HRIS industry as a whole can be extremely vulnerable to recession, although there are HRIS companies in this industry that may be more or less subject to recession depending on their unique Product and options shopping.
Companies, especially those operating in a market with less than 500 employees, can see HRIS or HRMS applications as a luxury, not a necessity. Therefore, it is clear that fewer individual human resources applications will be sold during the recession. Salaries and the collection of time will be considered a necessity that can be easily justified in the face of a decelerating economy. No matter how slow the economy is, workers still have to pay.
It is clear why many in the account invoicing system hong kong industry have turned to software as a service or as a hosting model. And I think these companies will be more protected from current economic trends than the decisions to buy licenses.