Transform Your Workforce Management Partner with NexInfo for your Oracle Fusion Cloud HCM Journey

In today’s competitive landscape, talent is an organization’s most valuable asset. Yet, managing and optimizing your workforce effectively can be challenging. Human Capital Management (HCM) – a strategic approach that streamlines your entire employee lifecycle, from recruitment to retirement.

What is HCM?

HCM encompasses a suite of technologies and processes designed to manage all aspects of your human capital, including

  • Compensation and Benefits: Payroll processing, benefits administration, compensation planning.
  • Learning and Development: Training, skills development, career growth opportunities.
  • Employee Engagement: Communication, feedback, recognition programs.

Transforming Your Business with an HCM solution

Implementing a robust HCM solution can bring a multitude of benefits to your organization:

  • Increased Efficiency: Streamlined processes and automation reduce manual tasks, freeing time and resources.
  • Improved Talent Acquisition and Retention: Attract and retain top talent with better hiring practices and engaging employee experiences.
  • Enhanced Employee Performance: Develop and empower your workforce through personalized learning and development opportunities.
  • Data-Driven Decision Making: Gain valuable insights from HCM data to make informed decisions about your workforce.
  • Reduced Costs: Optimize resource allocation and minimize administrative costs associated with manual processes.
  • Improved Regulatory Compliance: Ensure compliance with labor laws and regulations through automated processes and reporting.

When Does Your Business Need HCM?

HCM can benefit organizations of all sizes and across diverse industries. Whether you’re a small startup or a large multinational, HCM can help you:

  • Manage a growing workforce: As your company scales, HCM helps you efficiently manage a larger and more complex employee base.
  • Improve employee satisfaction: Engaged employees are productive employees. HCM fosters a positive work environment and boosts morale.
  • Attract and retain top talent: In today’s competitive talent market, HCM provides the tools to attract and retain top performers.
  • Compliance with regulations: HCM ensures you comply with evolving labor laws and regulations.

The way HCM works

Different modules and different functionality – list the modules + functions

How Human Capital Management (HCM) Works:

HCM is a comprehensive system for managing your organization’s “human capital,” which refers to your employees’ skills, knowledge, and experience. It streamlines and integrates various HR functions, offering several benefits:

  • Automating payroll, leave management, and benefits administration frees HR professionals to focus on more strategic initiatives.
  • HCM systems can provide employees with self-service portals for accessing payroll, requesting leave, and managing benefits, leading to increased satisfaction.
  • Data-driven insights from HCM systems can help HR make informed decisions about talent acquisition, development, and retention strategies.

HCM encompasses various modules with specific functions:

  1. Talent Management: This module deals with developing and retaining existing employees. It includes performance management, learning and development, career development, and succession planning.
  2. Workforce Management: This module focuses on scheduling, time and attendance tracking, leave management, and absence management.
  3. Compensation and Benefits: This module deals with administering salaries, bonuses, benefits, and other forms of employee compensation.
  4. Payroll: This module manages the process of calculating and paying salaries and taxes to employees.
  5. Employee Relations: This module focuses on maintaining a positive and productive work environment. It includes functions like dispute resolution, communication, and employee engagement.

 

Managing all these HCM functions in-house can be resource-intensive for organizations. This is where managed services come in. These services are provided by external vendors who take over the responsibility for managing various HCM processes on behalf of the organization. Choosing a trusted managed service provider with experience, expertise, reputation, and specific services will ensure they align with your organization’s needs.

Who Manages HCM?

The responsibility of managing HCM can vary depending on your organization’s size and structure. It might involve a dedicated HR team, a shared services team, or a combination. However, choosing the right HCM solution and implementation partner is crucial regardless of who manages it.

Oracle Fusion Cloud HCM

In today’s fiercely competitive landscape, attracting and retaining top talent is mission-critical. This is where Human Capital Management (HCM) systems like Oracle Fusion Cloud HCM are designed to support and provide solutions to help businesses achieve their business goals. By streamlining your employee lifecycle, from recruitment to retirement, Oracle Fusion Cloud HCM empowers you to unlock the full potential of your workforce. Whether you’re a small business seeking to optimize HR or a large enterprise aiming for a scalable HCM solution, Oracle Fusion Cloud HCM has something for everyone.

  • Growing companies: Adapt seamlessly to your expanding workforce with a solution that caters to your evolving needs.
  •  Foster global collaboration effortlessly:  Manage geographically diverse teams with centralized data and localized functionality.
  • Compliance-driven industries: Simplify adherence to complex regulations with automated processes and reporting tools. 
  • Talent management: Build a high-performing team.

Investing in Oracle Fusion Cloud HCM is an investment in your people, the heart of your organization’s success. Empowering your workforce, optimizing performance, and future-proofing your business will unlock a competitive edge and accelerate your journey toward sustainable growth.

Oracle Fusion Cloud HCM holds some unique strengths that cater to specific needs and the ideal reason why you need Oracle Fusion Cloud HCM in your organization:

  • Scalability and Security: Robust cloud infrastructure and industry-leading security protocols.
  • Integrated Platform: Combines all HR functionalities under one roof, from talent acquisition to retirement.
  • Mobile Accessibility: Empower operations from anywhere globally through a mobile device.
  • Advanced Analytics: In-depth reporting and data analysis tools for insights.
  • Partner Ecosystem: Expert consultants/ partners like NexInfo offering implementation and support expertise.

Oracle Fusion Cloud vs Workday

There is usually a comparison between Workday and Oracle Cloud HCM (Human Capital Management). Both are popular cloud-based software solutions used by organizations for managing various aspects of their human resources, but they have differences in features, architecture, and target audience.

  • Features:
    • Workday offers a comprehensive suite of HR functions, including human resource management, payroll, talent management, time tracking, and financial management. It focuses on providing a unified platform for HR processes.
    • Oracle Cloud HCM also provides various HR functions, including core HR, talent management, workforce rewards, and workforce management. It often integrates with other Oracle business applications, such as Oracle ERP Cloud, for a complete business solution.
  • Architecture:
    • Workday is built on a modern, cloud-native architecture with a single codebase, offering seamless updates and scalability. It’s designed to be user-friendly and accessible from various devices.
    • Oracle Cloud HCM has a more traditional architecture but has been transitioning towards cloud-based solutions. It offers cloud and on-premises options, providing flexibility for different organizational needs.
  • Target Audience:
    • Workday is often favored by medium to large enterprises that value its user-friendly interface, scalability, and comprehensive HR functionalities.
    • Oracle Cloud HCM caters to a wide range of businesses, including large enterprises that may already be using other Oracle products and seek integration across their systems.
  • Integration and Ecosystem:
    • Workday offers a range of integration options and has an ecosystem of partners and applications for extending its functionalities.
    • Oracle Cloud HCM integrates well with other Oracle products and has a vast ecosystem of Oracle partners and applications, making it suitable for organizations already invested in the Oracle ecosystem.
  • Cost and Implementation:
    • Workday’s pricing structure typically includes subscription fees based on the number of users and modules used. Implementation costs may vary based on the complexity of the organization’s requirements.
    • Oracle Cloud HCM’s pricing can vary depending on the deployment model (cloud or on-premises), number of users, and required functionalities. Implementation costs can also vary based on customization and integration needs.

Overall, both Workday and Oracle HCM are robust HR solutions with their strengths and advantages, and the choice between them often depends on the specific needs and preferences of the organization.

PeopleSoft Vs. Oracle Cloud HCM

Similarly, we see PeopleSoft and Oracle Cloud HCM, both human capital management (HCM) solutions offered by Oracle but are different. They have differences in architecture, deployment, and features:

  • Architecture:
    • PeopleSoft: PeopleSoft is a traditional, on-premises HCM solution that has existed since the 1980s. It is built on a client-server architecture and typically requires infrastructure and IT support for deployment and maintenance.
    • Oracle Cloud HCM: Oracle Cloud HCM, on the other hand, is a modern cloud-based HCM solution built on Oracle Cloud Infrastructure (OCI). It is designed to be accessed via web browsers and mobile devices, with updates and maintenance managed by Oracle.
  • Deployment:
    • PeopleSoft: PeopleSoft is typically deployed on-premises, meaning the software is installed and maintained on the organization’s servers and infrastructure.
    • Oracle Cloud HCM: Oracle Cloud HCM is a cloud-native solution, meaning it is hosted and managed by Oracle in their data centers. Users access the application online, and Oracle handles updates and maintenance.
  • Features:
    • PeopleSoft: PeopleSoft offers a comprehensive suite of HR functions, including core HR, payroll, benefits administration, talent management, and workforce management. It is known for its robust feature set and flexibility, with the ability to customize the software to fit specific business needs.
    • Oracle Cloud HCM: Oracle Cloud HCM also offers various HR functions, including core HR, talent management, workforce management, and payroll. It is designed to provide a modern user experience with self-service portals, AI-driven insights, and integration with other Oracle Cloud applications.
  • Scalability and Flexibility:
    • PeopleSoft: PeopleSoft can be highly customizable and flexible to meet the unique requirements of different organizations. However, this customization can sometimes make upgrades and maintenance more complex.
    • Oracle Cloud HCM: Oracle Cloud HCM offers scalability and flexibility through its cloud-native architecture, which can quickly scale resources up or down based on business needs. It also provides regular updates and new features without complex upgrades.
  • Cost and Maintenance:
    • PeopleSoft: The cost of PeopleSoft includes upfront licensing fees, along with ongoing maintenance and support costs. Organizations also need to budget for infrastructure and IT resources for on-premises deployment.
    • Oracle Cloud HCM: Oracle Cloud HCM typically follows a subscription-based pricing model, with costs based on the number of users and modules used. Maintenance and updates are handled by Oracle, reducing the need for internal IT resources.

Overall, while PeopleSoft and Oracle Cloud HCM are powerful HCM solutions from Oracle, the choice between them often comes down to factors such as deployment preferences, customization needs, and the organization’s readiness for cloud technology.

NexInfo: Your Trusted Partner for HCM Implementation:

Implementing a new HCM solution can be complex. Partnering with an experienced implementation partner like NexInfo, which holds 23+ years of experience in operational excellence, can ensure a smooth and successful transition. NexInfo offers a range of services, including:

  • Helping you choose the right HCM solution for your specific needs.
  • Configuring your chosen solution to meet your unique requirements.
  • Seamlessly transferring your existing data to the new system.
  • Train and ensure your employees are comfortable and proficient in using the new system.
  • Providing ongoing support and guidance to maximize your HCM investment.

Benefits of Choosing NexInfo:

  • Proven expertise: NexInfo has a proven track record of successful HCM implementations for clients across various industries.
  • Deep knowledge of Oracle Cloud HCM: Our consultants are experts in Oracle Cloud HCM, ensuring a smooth and efficient implementation.
  • Cost-effective solutions: We offer competitive pricing and flexible engagement models to suit your budget.
  • Focus on your business: We handle the implementation process, allowing you to focus on core business activities.

Investing in Oracle Fusion Cloud HCM is an investment in your people and your future. By choosing the right solution and partnering with a trusted implementation partner like NexInfo, you can unlock the full potential of your HCM system and transform your business into a thriving and competitive organization.

Unlock the doors to a future empowered by talent. Embrace NexInfo as your HCM implementation partner and embark on a journey towards:

  • A more engaged and productive workforce.
  • Improved talent acquisition and retention.
  • Data-driven decisions for optimizing your human capital.
  • Enhanced compliance and reduced administrative burdens.
  • A significant return on investment.

Contact NexInfo today, and let’s collaborate to build an IT strategy roadmap for your HCM success. Managed services with NexInfo for HCM provide comprehensive support and expertise to help you effectively manage and optimize your HCM system, allowing you to focus on your core business priorities while leveraging the full capabilities of your HCM solution. Together, we can turn your human capital into your biggest advantage.