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New Year, New HCM System: The Benefits of HR Software

Companies planning for the New Year should ensure that human capital management (HCM) software is on their agenda. Here's a look at the benefits of an HCM system for your business.

The benefits of HR software are top of mind for HR professionals planning next year's budgets. As 2015 winds to a close, many companies are planning their human capital management (HCM) strategies for 2016. A successful HCM strategy has many components, but having a strong HCM software is the foundation. Could it be the key to unlocking your HR team's potential and reaching goals in the year ahead? Here's a closer look at why new software should be in your budget and strategic plans in 2016.

Data: The Basis of Strong Decision Making

The best business decisions are backed up by data. In today's data-driven world, terms like analytics and "big data" are thrown around in nearly every corporate conversation. But the reality for many companies is that managers still struggle to access real-time, accurate data when they need it. Outdated HR systems can create data errors, make it difficult to access data, and require managers to spend hours finding and analyzing information. Different systems may not communicate across programs, requiring duplicate data entry and manual collation of insights between platforms. Investing in the right systems can help ensure that managers and staff have access to streamlined and accurate data when they need it, in order to eliminate unnecessary tasks and support smart business decisions.

Integrated Systems Help Can Create Efficiencies and Big Insights

A truly integrated HCM system enables a single employee record across multiple areas of the business and allows employers to customize how they use the system based on their specific needs. Companies should be able to use only the modules that make sense with their unique situations, from recruiting applications to benefits administration to time and attendance. Customization lets companies invest in their priorities, helping make their most important processes more efficient and getting managers and employees the insights they need. This model helps control costs and makes it possible to scale technology when business needs demand more (or less) HR technology support.

Supporting Mobility Is a Must: The Benefits of HR Software

Today's employees are on the move. Whether those employees are working at client sites or from home, companies may need flexible, cloud-based systems to allow staff to work whenever and wherever they need to. Modern time-and-attendance systems let workers report their time on mobile devices and use GPS features to provide time and location verification for accuracy if applicable. Cloud-based systems also let managers access critical data when needed, whether they're completing work while traveling for business or responding to an urgent request after hours. Do your current HR technology solutions address the importance of mobile devices in today's business world?

The right HR software can eliminate unnecessary administrative tasks which may help make your employees more productive. These efficiencies, when realized across an organization, can contribute to a healthier bottom line. Access to better data and updated systems through such software may also create a better employee experience. As you plan your budget and strategic priorities for 2016, make sure you consider how the right HCM system can help your business in the New Year.


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