- Distributed performance and availability management software is designed to improve business performance by driving employee productivity. The software is designed to help managers write perfect job profiles and prospects, create a relevant objective that aligns with the company’s mission and goal, write appraisals, and document performance.
- The distributed performance and availability management software is used to analyze, track, and evaluate performance of employees to ensure goals are achieved and the desired return on investment is accomplished.
- The distributed performance and availability management software is managed by the HR department. It comes under the talent management system to cover the full scope of learning and development, succession planning, and compensation management.
- The software helps to expand the business and helps team leaders and managers to keep their team inspired and engaged.
Distributed Performance and Availability Management Software Market: Key Drivers
- The distributed performance and availability management software is well-structured to track the performance of employees. The object key result (OKR) solutions help to track and support employee goals and sub-goals to succeed unclear end results. The software allows an organization to define objective levels such as the individual objective, department objective, and company objective.
- Improving employee engagement is the additional goal of distributed performance and availability management software, where the employee can have a look at present individual performance goals and their development toward meeting them. The manager can easily measure individual performance against the goal and employees can get an idea of where they need to improve their performance.
- The distributed performance and availability management software gives 360 degree feedback, which includes inputs from peers and subordinates.
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Impact of COVID-19 on the Distributed Performance and Availability Management Software Market
- Most companies are adopting the work from home module during the pandemic period. Companies are decreasing their investment in new technologies and services to manage their profitability. Most small businesses have closed their business process due to lack of funds to sustain in the market.
- Demand for distributed performance and availability management software is decreasing during the COVID-19 lockdown situation but is expected to grow to in the coming years as companies are likely to start making profit to recover from the economic downturn associated with COVID-19.
North America to Hold Major Share of the Global Distributed Performance and Availability Management Software Market
- In terms of region, the global distributed performance and availability management software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America holds a prominent share of the distributed performance and availability management software market due to the presence of leading players and the early adoption of advanced technologies and services in different industries in the region
- The distributed performance and availability management software market in Asia Pacific is projected to expand at a rapid pace during the forecast period attributed to increasing investment by major players in the Asia Pacific region to expand their business operations and industrial consumer base in growing countries such as India, China, and Japan. This in turn is likely to increase demand for the software in the commercial sector during the forecast period.
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Global Distributed Performance and Availability Management Software Market: Competition Landscape
Several local, regional, and international players are active in the distributed performance and availability management software market with a strong presence. Rapid technological advancements have created significant opportunities in the market.
Key Players Operating in the Global Distributed Performance and Availability Management Software Market Include:
- BMC Software, Inc.
- Broadcom, Inc.
- Cisco Systems, Inc.
- Dell Technologies, Inc.
- Hewlett Packard Enterprise Development LP
- International Business Machines Corp
- Microsoft Corporation
- New Relic, Inc.
- Oracle Corporation
- Riverbed Technology
- Zoho Corporation Pvt, Ltd.
- SolarWinds Worldwide, LLC
- Networks Unlimited
- SmartBear Software
- CA Technologies (Broadcom, Inc.)
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