Workforce management (WFM) is an umbrella term that refers to the systems and processes used to maintain an efficient and productive workforce. Most often, it’s implemented through cloud-based subscription software and can be particularly beneficial for companies with 10 or more employees. WFM helps you put the right people in the right place at the right time. It helps you manage work schedules, and track employee time for attendance as well as billable projects. All of these elements can increase productivity and profitability.