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Trends, Product and Industry Insights to Help Create Your HR Tomorrow, Today.

The Value of End-to-End Finance and HR Solutions

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This is a syndicated post, view the original post here

By: Cara Clinton-Vollmer, Senior Content Manager, Oracle

The cost and complexity of enterprise resource planning (ERP) and human capital management (HCM) pose two of the most serious challenges facing large companies today, according to a recent paper from Nucleus Research. “Many companies deploy a combination of different best-of-breed solutions that deliver disparate results according to their individual directives,” Nucleus writes. “This siloed approach is problematic and produces a lack of visibility across the organization, leading to uninformed decisions, expensive errors, and wasted time.”

To address these issues, companies are starting to turn to single-vendor, end-to-end solutions such as Oracle Cloud. This helps companies share data in real-time, enable connected workflows, improve data visibility, and ultimately, empower both finance and HR to better deliver on the bottom line. 

In a recent study, Nucleus Research conducted in-depth interviews with three Oracle customers to understand the benefits of finance and HR working together on a unified cloud. Here are their stories.  

A Communications Company Breaks Down Data Silos for Improved Internal Communications 

Customer: An outdoor advertising company specializing in large-format, static and digital billboards, bus and tram advertising displays, and advertising panels on trains and railways. 

Situation: This company helps their clients communicate on a grand scale, but it had grand-scale internal communications problems of its own. Legacy system finance and HR tasks were completed using spreadsheets, leading to mistakes, lack of oversight, and poor data quality. Finance and HR departments couldn’t contribute to a high-level view of company performance because their data were housed in different systems. Integration was nearly impossible without complex, manual operations. 

Solution: After gaining a full understanding of the company’s needs, Oracle recommended a joint deployment of Oracle ERP Cloud and Oracle HCM Cloud. Now vital information is no longer trapped in silos and communications can flow quickly and easily. Data that is not entered correctly is rejected, reducing errors and improving data quality. Also, workflows that were once manual are now automated, freeing users for more value-add functions such as drilling down into data to best report on the company’s performance. Originally drawn to Oracle because of its strong security and data integrity protocols, the company particularly liked that their new software-as-a-service (SaaS) solution doesn’t require onsite infrastructure or maintenance. IT appreciates the reduced number of vendor relationships to maintain.  

“Oracle’s data security visualization capabilities have reduced the time end users spend on verification and report creation, allowing those employees to spend more time on other value-add tasks for the company.” 
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A Logistics Company Moves Faster When System Roadblocks are Removed 

Customer: A holding company for global freight shipping brands that is masterful at the intricate logistics of moving industrial, retail, and commercial goods. 

Situation: While the company could move goods from dock to door with ease, it had difficulty moving its own information out of legacy finance and HR systems, creating serious and unnecessary roadblocks to success. 

Solution: Weary from on-premise solutions that required frequent, disruptive upgrades, the organization consulted with Oracle. Knowing its reputation as an enterprise application provider with flexible timeframes for implementing software upgrades, the company purchased Oracle ERP and HCM Clouds to ensure interoperability and standardized practices. After implementation, the company quickly realized that its main benefit was standardization of the IT environment. Deploying the two products as an end-to-end solution enabled smooth sailing, as data and processes were no longer stalled by vendor or department. What’s more, the company redeployed three full-time employees who were previously responsible for managing its legacy HCM solution. Now traveling side-by-side on the same highway, finance and HR are equipped with accurate, real-time data and can collaborate seamlessly to make better decisions for the organization. 

“Oracle’s out-of-the-box interfaces helped us standardize many business processes that had been at odds with each other and enabled us to retire inefficient legacy software solutions that were slowing us down.” 
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A Company that Enables Wireless Connectivity Improves Connectivity for its Finance and HR Systems 

Customer: A subsidiary of an international communications conglomerate that specializes in construction and management of wireless infrastructure designed to expand connectivity for public safety, emergency services, transit operations, and more.

Situation: Citing high administrative costs and low employee productivity, this company needed to connect the critical functions of procurement, financials, inventory, project, invoicing, and HR into a single platform. 

Solution: Deploying Oracle ERP and HCM Clouds together helped the company completely transform its business operations. It now has full visibility of its current inventories and upcoming needs based on project pipelines. Embedded workflows save time and reduce errors—resulting in improved planning capabilities, redeployment of essential assets, and tremendous cash savings. 

“The Oracle Cloud’s consolidated nature enabled us to avoid many complex customizations and helped us better allocate resources to different projects, which has saved thousands of dollars for the company.”
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Learn how your business could benefit by connecting finance and human resources in Oracle Cloud. Download this report

 

 

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