Businesses all across the world are undergoing seismic shifts in how they operate. Consumers seek faster, more convenient, and more tailored products and services. Workers want more from their employers, looking for companies that share their values, provide flexible work alternatives, and provide employees with cutting-edge technology. All types of businesses are reinventing what is ideal for their business models, strategies, and technologies, from retail to financial services to healthcare.
Human resources are no exception. Your team needs a system that provides visibility into your workforce so that you can attract, engage, grow, and retain employees. Some firms may migrate on-premises systems to the cloud, while others may choose an all-in-one, unified cloud solution. The following are the top ten reasons why you should adopt Oracle Fusion Cloud Human Capital Management for your business.
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1. Customized User Experience
Employees demand customized work technology experiences and want to feel supported by their employer regardless of where, when, or how they work. Giving workers a personalized user experience is becoming a need, and many HR teams are aiming for it when they review their technologies. As a result, Oracle Cloud HCM provides the only comprehensive employee experience platform that enables your employees to connect, grow, and flourish. By bringing together employee communications, processes, listening, networking, and support on an open platform, Oracle ME delivers tailored counsel and meaningful relationships. It makes use of your workforce data to provide each employee with a personalized experience.
2. Versatile and Expandable
If the worldwide epidemic has taught us anything, it’s that any business may rapidly shift in the blink of an eye. Human resources are at the forefront of handling change and must be ready to adjust fast when new difficulties emerge. Wouldn’t it be great if your system provided quick, accurate data and could be readily modified to match your changing requirements? The fact that Oracle Cloud HCM provides an adaptive and versatile solution to accommodate changing business practices, legislation, and surroundings is a huge plus. With little to no IT involvement, you can quickly create your organizational chart, model your staff using salary data, and set up procedures. Embedded analytics offer a customizable dashboard with total insight, allowing you to make educated decisions that benefit your business rapidly. Customers are also leveraging the Oracle Platform as a Service to customize the system to their own needs.
3. Increased Commercial Value
Oracle clients utilize HCM cloud solutions to generate corporate value by increasing user adoption and engagement, streamlining workflows, boosting output, and reducing the total cost of ownership. Stolt-Nielsen, a transportation firm, decreased the average processing time for HR transactions by 50% and the number of external IT support workers by 80% by using Oracle Cloud HCM. By automating onboarding procedures, Arizona Federal Credit Union increased productivity and reduced labor costs by 60 hours per month. In order to find and target the best-fit individuals, Co-op, a grocery store, used Oracle Cloud HCM.. These kinds of outcomes demonstrate the value of working with Oracle as you build a business case for Oracle Cloud HCM.
4. Commitment to Innovation
The main advantage of shifting your systems to the cloud is innovation. You can get new and interesting features with quarterly upgrades. Oracle releases more than 1,000 innovation updates each year with a staff of over 20,000 developers, 80% of which are based on user feedback.
Since Oracle invests $6 billion annually in research and development, it can provide specialized experiences that make use of cutting-edge technologies like artificial intelligence, machine learning, and digital assistants. By suggesting training possibilities, potential jobs, and corporate connections based on employees’ behaviors and preferences, these technologies facilitate work.
5. Data Privacy and Security
Organizations with stringent security needs all across the world rely on Oracle because it has a strong security culture. Oracle Cloud HCM and its infrastructure, which are housed in cutting-edge data centers, have sophisticated, multilayered security features that may help companies comply with national and international requirements. Data for your company is safeguarded by encryption and ongoing risk management. As organizations shift to more dispersed workforces, it is critical to ensure that employee data is only available for the purposes intended. Oracle Advanced HCM Controls uses constant automatic monitoring of user access and behavior to keep HR data safe.
6. Comprehensive HCM Cloud Solution
The most comprehensive HR cloud solution available on the market, Oracle Cloud HCM, is chosen by organizations that want to manage the whole employee lifecycle. It integrates every HR procedure, from hiring to retirement, and was created as a single cloud solution for all HR capabilities. With a focus on talent management, learning, talent acquisition, employee experience, HR help desk, payroll, benefits, workforce planning, analytics, health and safety, and time and labor, the Oracle Cloud HCM system offers complete, end-to-end workforce visibility. This gives your HR department and workers a uniform experience and creates a single source of truth for HR data to aid in decision-making.
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7. Complete Business Solution
The fact that Oracle natively built software-as-a-service (SaaS) applications on its own cloud platform and infrastructure is just one of the many aspects that sets it apart from other suppliers. You can improve data security and obtain unhindered insight throughout your business by combining apps and data on a single platform. By combining the departments of HR, finance, supply chain, sales, and marketing, you can use customised dashboards to reduce labor costs and promote growth. You could integrate and link all of these features, but that would slow down your ability to act quickly and with confidence in your choices due to data delays, inaccuracies, and continuous maintenance. Oracle provides you with a single cloud to unify your company, increasing business agility and enabling quicker responses to customer demands.
8. Data Privacy and Security
Organizations with stringent security need all across the world rely on Oracle because it has a strong security culture. Oracle Cloud HCM and its infrastructure, which are housed in cutting-edge data centers, have sophisticated, multilayered security features that may help companies comply with national and international requirements. Data for your company is safeguarded by encryption and ongoing risk management. As organizations shift to more dispersed workforces, it is critical to ensure that employee data is only available for the purposes intended. Oracle Advanced HCM Controls uses constant automatic monitoring of user access and behavior to keep HR data safe.
9. Robust HR Community
Oracle Cloud Customer Connect is a thriving online community with over 40,000 HCM users. It’s a wonderful location to crowdsource knowledge, talk about the most recent releases, sign up for live or online events, and suggest new products. In this online forum, customers can connect with top technology professionals, learn from them, and stay current on the newest HR trends. Daily active forums are available to you where you can exchange best practices, resolve problems, and enhance your HR career.
10. Client Success
Oracle collaborates with its customers to ensure the success of their project at every stage of the trip to the cloud. Oracle HCM takes the time to comprehend your company’s problems, objectives, and long-term goals before matching them to the appropriate solution. Customers of Oracle have access to success planning tools, an implementation success manager, and on-demand training. To help you get the most out of your investment, Oracle provides 24/7 customer assistance in 145 different countries.
11. Competencies on a Global Scale
Since most businesses today operate at both the global and local levels, Oracle Cloud HCM is built to fulfill both worldwide and regional requirements for over 200 jurisdictions and 27 languages. Moreover, payroll localizations are available in Bahrain, Canada, China, France, and India (anticipated in 2023), Kuwait, Mexico, Oman (expected in 2023), Qatar, Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States. In addition, Oracle Payroll Core, a customized solution for IGOs and NGOs, allows employees to be paid in over 150 countries through key partners.
Wrapping Up
Oracle HCM Cloud’s capabilities and agility definitely provide HR practitioners with the potential to offer value beyond fundamental HR activities.
Oracle HCM allows you to sit in the boardroom and generate important insights to improve company decision-making.
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[To share your insights with us, please write to sghosh@martechseries.com]