Advice and Information for Finance Professionals

How to Improve Collaboration Between Finance and HR

Guest Author

By Melissa Morgan, Oracle HCM Cloud

Have you ever wondered why seemingly simple things like getting information or working across teams is so hard? You're not alone. Yet, in the digital age, strategic collaboration between the finance and HR lines of business is necessary. 

The competitive landscape has intersected with technology in a way that continues to disrupt organizations in nearly every industry—from manufacturing and service companies focusing on outcomes, to the sharing economy in transportation and hospitality. Now more than ever, the ability to be agile, transform quickly, and plan effectively helps you seize market opportunities and grow revenues. 

Improving HR and Finance Collaboration by 70 Percent 

When we asked MIT Technology Review to help us explore this relationship between Finance, HR, IT and the role cloud computing plays, we found that 70% of organizations that implemented cloud applications improved collaboration across Finance and HR. As information becomes more accessible across teams, it’s easier to do things like workforce planning and budgeting in concert. In fact, Oracle has identified at least 34 ways your Finance and HR cloud needs to connect (and there might be more).  

Seeing is Believing 

Starting a cloud migration with Finance and HR often reaps the greatest benefits by freeing up staff to focus on strategic, revenue-enhancing activities rather than non-value-added tasks. And closer collaboration can lead to more efficiencies: 35 percent of organizations plan to create a shared Finance and HR function in the cloud this year.

Our upcoming webcast is a great opportunity to see Oracle’s cloud applications working together across lines of business. Our experts will cover topics from how AI is changing the way we work, to better workforce planning and budgeting. You’ll also have a chance to ask questions and hear about customers who are already on their journey to unifying HR and Finance in the cloud. 

Attend our webcast to find out more. Register now.

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