We are launching a new performance system and I have recommended the name should be descriptive of what you can do in the system to assist new employees to the organisation and those that only use the system one a year i.e. its where you go to manage yours and / or your teams performance planning and assesment and remuneration online therefore eperformance & remuneration. However there is push back as the system can potentially do more in the future other than just perf and rem. Are there guidelines or best practice to refer to when naming a system i.e. should it be descriptive or should it be catchy that everyone uses and remembers? Also, if we name it something now, can we change it when launching more functionality or is this worse?
It seems to me that your software is geared towards employee engagement which is quite a vast field with a lot of intricacies and products; software in this category falls under talent management and acquisition solutions, a banner under which a large range of other HR software is created. Examples include but not limited to absence management and performance management tools.
So to answer your question, in order to come up with a name for the system you need a roadmap with clear indications to where the software is heading (areas of potential growth) so the name and brand you create can encompass different aspects of the software present and future.
An example of name is trakstar which focuses on employee performance management, the name is very much reflective of what the software does.
Hope that helps
If The system is to be expanded upon but without any clear direction then I'd recommend picking an arbitrary name that doesn't give any clues as to what the system does but is always recognisable as 'that thing'. For example Atlassian Systems make a project management tool that can include lots of add ons that take it beyond the realm of project management - they called it 'Jira'.
You could name yours something that fits in with the brand identity or mission statement for the organisation and therefore does not tie it down to a particular set of functions.
Most names that stand out with great recall value are those that do not have actually any meaning or related to the business purpose. Think Yahoo, Ola, Amazon, Apple etc.
An useful guideline is to keep it short & simple to pronounce. Short implies less than 10 letters as it also helps in getting a short URL.
Specifically, in the performance management space, a nice example is GroSum that is short & simple.
But then as Shakespeare said, What's in a name?