As HCM technology continues to evolve at a rapid pace, it can learn a few things from its more mature technology uncle, enterprise resource planning (ERP). If nothing else, the ERP market has learned the value of unified data and applications, employee-driven workflows, and contextually relevant tools. The same is true for transformative HCM technology.
Unified Data and Programs Are King
The ERP market understands that having all of your data in one system creates greater efficiencies and delivers richer business intelligence to support better business decisions. HCM solutions are only now moving into the world of systems that are truly unified. Too many systems talk about offering an integrated solution, but then require you to find outsourced vendors or third-party software for some of your HCM needs.
WORKTERRA has been recognized as a leader in developing and implementing a fully unified suite of HCM applications: recruiting, onboarding, benefits administration, health insurance exchange, wellness, and Affordable Care Act (ACA) compliance. The result is a consistent and personalized experience across the entire platform, including the integration of data among the modules for decision-makers.
Employee-driven Workflows Rock
The fastest-growing and most successful ERP vendors realized a few years ago that they needed to build tools not only for finance but for people across the entire organization — sales, warehousing and fulfillment, customer service, and even customers. The trend is certainly not universal, but HCM has gradually moved in the same direction, and with good reason.
WORKTERRA is among the leading providers of benefits administration and talent management for companies of any size, and one reason for that is it’s fully configurable and built on proprietary technology. Its 100 percent organic modules can connect employees throughout the organization — and be adapted to any organization’s workflows — from recruiting to onboarding, from benefits administration to wellness program management, from helping employees make wise buying decisions for health insurance to giving HR the tools and programs it needs to ensure ACA compliance.
Configurability means WORKTERRA can cater to the needs of various business functions and workflows. Mobile access, which is a key feature of WORKTERRA, can have access managed based on roles, business unit, locations, and other variables.
Context for Tools Matters
Companies have long purchased ERP solutions on the basis of their strategic value. HCM technology is slowly assuming a similar role, as an increasingly greater share of company assets and investment fall under HR’s umbrella.
To avoid simply complicating life with an ever-increasing amount of raw data, leading HCM technology will help companies tap into the power of converging data streams by giving decision-makers needed context. There’s been a steady push to unify HCM analytics with transactions on a single real-time information system. Companies are increasingly migrating to unified systems that merge the processing power of in-memory computing with cloud and mobile applications tailored for people management.
For example, WORKTERRA’s fully unified technology and single cloud-based application deliver the added advantages of improved data accuracy, compliance automation, ad hoc reporting tools for scheduling and automating custom or standard reports in real time, and accurate reporting of even the most complex reports and filings.