Any Good Software For Performance Management

Dear All,
Currently i am working as HR Manager for a company ( Approx : 1000 employees ) and we do have Performance appraisal done on a bi-yearly basis were we use performance appraisal sheet for all employees .
Can anyone share online system or a software which company could purchase and start the online as current process is time consuming and lot of paper work involved ..
Looking for valuable suggestions and feedback ..
regards
Deelu

SAP SuccessFactors has cloud based Solution on Goal Management and Performance which has very good functionality and easy to adopt and use. Let me know if you are interested, I can connect to one who can help further.
Thanks
Sarat