According to a recent survey conducted by MIT Technology Review and commissioned by Oracle, 35 percent of companies are planning to create a shared finance and HR function within a year. What are the benefits? For starters, this combination can improve the way data is shared across different departments and mitigate IT staff or skills shortages required to run existing finance and HR systems.
Here, learn about other benefits of bringing these functions together. Plus find out what experts are saying about value of modern human capital management, and why your department might need an update.
“It’s imperative for us to get the right information to the right people so our leadership can make decisions backed by timely and accurate data.” —Sona Manzo, vice president of Oracle HCM Cloud Practice, Hitachi Consulting Corporation
“I can see all the way down to how much a person spent on different kinds of travel, whether it's airfare, rental cars, hotels, etc. And I can look at the trends by quarter, by month, whatever my heart desires.” —Ivgen Guner, senior vice president of global business finance
“There was a subject of trust for the business units—trusting the group to provide HR tools with a satisfactory service level that would fit the evolving needs of the business.” —Violaine Pons-Vidart, head of HR information systems at global energy player ENGIE
“The learnings from the move of finance and HR to the cloud will ultimately spread across the organization as, together, they conceptualize the shape of the next disruption.” —Steve Cox, group vice president of Oracle ERP and EPM product marketing
“Technology integration is the key to gaining better insights and improving employee experience. We recommend our customers start by putting core HR functions in the cloud, but there’s no single right way to transition to the cloud.” —Anje Dodson, Oracle vice president of human resources, talent development, HR technology and operations
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