As the global market expands and more talented and educated people are seeking well-paying positions, the leaders in human resource departments (HR) are faced with the dilemma of having to compete with other businesses for the best employees. Having access to increased mobile and social capabilities is vital for making connections with employees, both existing and potential. HR is no longer restricted to the hiring and management of employees; instead, HR directors are now able to increase the value of the business. Human Capital Management (HCM) Cloud Solutions can offer increased efficiency by providing applications that can effectively manage both people and productivity which in turn increases to the value of the company.
Despite the availability of HCM Cloud solutions, many businesses have not made the move to adopt them. For some, the incentive to make changes simply isn’t there while others do not feel like the initial cost is worth the time and effort it would take to implement a new system.
However, many organizations are simply not aware of the overall benefits to changing to a system like Oracle Fusion HCM Cloud. Before deciding against a cloud-based system, it is helpful to be aware of some of the benefits that will save both time and money as well as meet the needs of the business.
The Advantages of Adopting the Fusion HCM Cloud System
In order to increase your understanding of Fusion HCM Cloud and how it can change the face of your HR Department, we have compiled a list of the most immediate benefits of adopting this system. Each of these advantages can impact your business in different ways, which increases the value of your business across the board.
Human Resource Directors are privy to a wide variety of personal information about the employees of the company. Because of this, top-notch security is extremely important. The security offered by the Fusion HCM is designed with Role-Based Access Control (RBAC). Simply put, this allows security access to employees based on the role they play in the company. For example, the HR Director can have access to all of the personal information on file for every employee while junior staff can only access certain types of information. Security features include encryption, virus scanning, scheduled backups, and disaster recovery.
The performance and flexibility of a SaaS (software-as-a-service) application are vital when it comes to such an important function as the HR Department. Using the infrastructure of a cloud-based system allows each user to have the flexibility to work from a hand-held mobile device like a tablet or smartphone or from a more traditional desktop setting. This allows the department to respond to work situations as soon as they arise, regardless of where they are located.
The Fusion HCM Cloud also offers the Fusion Flexfield system. This has built-in extensions that allow the users to change the way the application works based on the needs of each department. It is capable of integrating and extending the capabilities of the organization by merging all aspects into one. For example, many companies still use isolated systems for all their business and organizational needs. This outdated system no matter how expensive and top notch it claims to be, cuts down on efficiency and productivity.
Most organizations have experienced the myriad problems that arise when trying to integrate different aspects of an on-site application. The process is time-consuming and has to be done by a staff member whose job is dedicated to managing extractions. The Fusion HCM Cloud offers instead a fast, simple extractions using only a few clicks of the mouse. Having the ability to integrate different applications seamlessly and with minimal effort can save both time and money, which all organizations can use more of.
Compatibility with Other HR Systems
Even businesses currently using non-Oracle HR products can use the Fusion HCM Cloud system. Oracle’s system can be configured with older HR systems while also allowing users to keep the familiarity of their existing programs. This compatibility allows the two systems to integrate with small increments, so users can use the new system without being overloaded with entirely new information. Again, this increases productivity, as no extensive training is needed to master and entirely new management program.
Built-In Integration Capabilities
For organizations interested in the bottom line, Oracle provides built-in integration components that have been proven to save as much time as 20%. Java-based SaaS components are constantly being upgraded and improved, and they are available for use on some existing Oracle products like PeopleSoft and Fusion. There is little doubt that implementing a new system is time-consuming for everyone involved; cutting that time by 20% means better productivity and increased efficiency in less time.
Applications Upgrade Automatically
When it comes to upgrading programs such as EBS or PeopleSoft, it is usually an expensive project that takes a lot of time. With Fusion HCM’s cloud-based system, upgrades happen automatically. There are no additional costs associated with the upgrades, and testing has been done to ensure there is minimal employee involvement in installing them. Because of the extensive testing and cutting-edge solutions, there is continuity throughout the entire process.
Making the change to Oracle’s Fusion HCM Cloud system will transform the entire HR department of any business or organization. It allows your organization to keep in line with current HR goals while also keeping up with the rapidly growing changes in the Human Resource field. The time savings and the increased efficiency and productivity will pay for the cost of the program many times over.
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