FinancialForce HCM Review - why 3.1 stars?

FinancialForce HCM Review
ITQlick Score: 92/100
ITQlick Rating: (3.1/5)
Pricing: 2.2/10 - low cost
Category: Human Resources -> FinancialForce HCM
Ranking:Ranked 18 out of 534 Human Resources systems
Company: Financial Force
Pricing: starts at $9,000 per year
Typical customers: Medium and large size businesses
Platforms: Desktop, Mobile, Cloud
Links: FinancialForce HCM pricing, FinancialForce HCM alternatives

Shlomi LaviShlomi Lavi / updated: Mar 12, 2022

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What is FinancialForce HCM and its features?

FinancialForce HCM is cloud-based human capital management supporting the complete human resources spectrum. FinancialForce HCM offers all the necessary features for human capital management.

The features include talent acquisition, payroll management, personnel management, workforce and benefits management, employee self-service, product technology, training management, and people engagement. Apart from these features, FinancialForce HCM integrates various other tools, namely, Zoho Reports, Salesforce, DocuSign, Work.com, ServiceMax, FinancialForce PSA, Xactly Express, Avalara, and Salesforce Service and App Cloud.

The target users of FinancialForce HCM are small, medium, and large-sized organizations. FinancialForce HCM supports various operating systems including, Mac, Windows, and Linux. FinancialForce HCM was developed by Financial Force, founded in 2009.

The main headquarters of Financial Force is located in San Francisco, California, United States. Currently, Financial Force has 5000+ employees, making it a medium-sized organization. It is important to note that FinancialForce HCM is developed using the Salesforce platform. Therefore, if you are familiar with Salesforce, there is a higher chance of a better understanding of FinancialForce HCM.

What is FinancialForce HCM rating?

The rating of FinancialForce HCM is 3.1 stars out of 5 and the total score is 92 out of 100. The rating score is based on our unbiased data-based algo. Learn more - rating methodology page.

Who uses FinancialForce HCM?

FinancialForce HCM is best for SMBs engages in several industries, including pharmaceuticals, accounting, legal, advertising, insurance, automotive, hospitality, banking, healthcare, broadcasting, engineering, business process outsourcing, e-commerce, and engineering.

FinancialForce HCM has customers in several countries, including US, Canada, Australia, and China. Some FinancialForce HCM clients include White Springs, Ahead, US News, and the University of Houston.

Is it easy to use?

Yes, FinancialForce HCM makes it fairly easy to use. This product is user friendly and intuitive.

Is FinancialForce HCM cloud-based?

Yes, they offer cloud based hosting, which means IT resources are retrieved through web-based tools and applications and you don't need to buy servers and additional hardware equipment.

Can it be used on mobile?

Yes, you can access FinancialForce HCM on your mobile/smart phone.

Is FinancialForce HCM the best Human Resources system?

FinancialForce HCM is ranked 18 out of 534 software in their category (Human Resources systems).

What are their main features and functionalities?

FinancialForce HCM benefits your business by facilitating HR and employee management and development processes. The solution uses multiple system leads for correcting errors and gaps and prevent mistakes in managing critical information and adoption rates. FinancialForce HCM features include core HR functionality, workforce management, and talent management, all integrated under one user-friendly platform that is delivered through the cloud.

FinancialForce HCM is designed to focus on the space and needs of the HR department. It helps small and mid-sized businesses that cannot afford to spend time and other resources to manage HR operations. Supported customization allows users to easily and quickly configure the solution to meet their needs. The software can be configured to create pages and workflow charts for adding new processes, fields and other important data. There are also administrative features that allow managers to track all company benefit plans and packages in one online database, which allows management to calculate rates and coverage, integrate benefit deduction information with payroll, and incorporate benefits.

What are FinancialForce HCM's pros? (5 Pros)

  • FinancialForce HCM offers a free trial
  • You can integrate it with other software such as Salesforce, Zoho Reports, etc
  • The pricing is based on quota-based. Therefore every business pays what they opt-in for
  • It can integrate it with your current CRM software
  • FinancialForce HCM can be deployed as SaaS

What are FinancialForce HCM's cons? (5 cons)

  • The team collaboration for system understanding to new users can be improved
  • The user interface can be improved for making it interactive
  • FinancialForce HCM does not have a forum for user communication and interaction
  • FinancialForce HCM is limited by the internet connection for browser based features
  • FinancialForce HCM visuals limited by browser settings

Who are their main alternatives?

With changing business nature, the requirements of the business vary. Therefore, not every HCM solution meets the needs of every business. Hence, it is essential to compare and analyze various HCM software solutions available in the industry to make the right decision. The three tough competitors of FinancialForce HCM are Sage People, Zoho, and Workday.
  • Functionality: Workday is a cloud-based HCM solution helping businesses with their real-time analytics. Workday offers features that make HCM easier for businesses. The features include financial management, performance management, analysis, recruiting, payroll & time tracking, talent management, procurement & expenses, salary structure, compliance, and benefits administration. Apart from these features, Workday also allows integrations with other software solutions. Unlike FinancialForce HCM, Workday also offers mobile user support, giving it a slight edge.

    Sage People is a cloud-based HCM software to help organizations build their global HR system. The features include talent acquisition, people management, workforce experience administration, compensation and employee recognition management, attendance & leave management, and reporting and analytics. Moreover, you can integrate Sage People with other tools for an improved HCM system. It meets compliance requirements with standards like ISO27001:2013 to ensure that every information is secure & protected.

    Zoho offers a cloud-based solution for HCM known as Zoho People. It offers features such as applicant tracking, smart HR workflows, analytics, employee case management, attendance tracking & management, off-day tracking, performance gap analysis, and leave management. Moreover, it also offers a module for course management for employee learning track management. However, Zoho also has a recruiters tool to help organizations with recruitment.
  • Support: In terms of support and resources, all the tools, namely, FinancialForce HCM, Zoho People, Sage People, and Workday, offer complete documentation, online support, videos, user guides, training, and blogs. Furthermore, these resources are readily available on their official websites, not requiring the users/organizations to request them separately.
  • Pricing: The cost of Zoho People for their basic plan is around $1.25 per user per month. However, the basic package has limited features. Their People Plus package costs around $9 per user per month to get the complete feature set. However, the cost of Workday is approximately $100 per user per year. Whereas the price of Sage People is not provided on their official website, they do offer a free trial for the users before they make a final decision.

What is the cost of FinancialForce HCM?

The cost of license starts at $9,000 per year. On top of the total cost of licenses which is easy to calculate - what is the REAL total cost of implementation? You need to add the cost of training, customization, data migration, and other "hidden cost". ITQlick pricing score is 2.2 out of 10 (10 is most expensive). You can find here the REAL total cost breakdown for FinancialForce HCM. You can also find here pricing information from FinancialForce HCM's website.

What should you ask Financial Force during a demo session? (65 questions)

Schedule a demo with FinancialForce HCM and access 65 must ask questions for the vendor while watching FinancialForce HCM in action. Visit the vendor's website here.

Where FinancialForce HCM is used?

Given the overall features and comparison with various alternatives, there is no reason that your organization must not opt for FinancialForce HCM. From performance management to talent acquisition, from integrations with other software to training management, FinancialForce HCM offers all the necessary features for human capital management. Moreover, with reports and analytics, you can now analyze what is working best for your organization.

Having said this, the various alternatives also offer similar features and integrations. Hence, your organization has a wide range of options to choose from. Overall, FinancialForce HCM has all the necessary features to help your organization with human capital management. They also offer other tools as well. Therefore, you might not look into software solutions offered by other companies.

List of categories

Human Resources
Applicant Tracking
Attendance Tracking
Benefits Administration
Compensation Management
Employee Recognition
Employee Onboarding
Travel Management
Employee Performance Management
HR Department
Inventory Control
Stock Control

List of features

HR Management
Payroll
Performance Record
Recruiting
Timesheet

FinancialForce HCM Vs. Alternatives

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Financia...
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APS
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Workday
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3
Workforc...
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98/100
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2/10
License pricing
$6 per employee/month
Functionality
32
Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.