A Look at Benefits of Cloud-Based HR Software

Cloud-based human resource management software has changed the face of

HRM in the recent past. There has been a considerable rise in the number of
cloud systems from hr software vendors. Similarly, many firms, including small and
unknown companies are quickly abandoning their traditional HR systems in
favor of cloud-based HR software. Read on to know some of the benefits and
things you need to consider.
What are the benefits of cloud-based HR software over traditional HRM
systems? Here is cloud hr software explained.
Any cloud-based system has two fundamental advantages: low cost and
flexibility and cloud-based HR software certainly brings them to your firm.
Large enterprises are most likely to experience the disadvantages of growing
bigger. One of the main challenges of becoming large is the problem of
managing a large team of staff and a rather complex management structure.
The other good news is that it makes work easier and employees, who adopt
cloud-based systems, are always happy working with them.
Surveys have shown that firms have recognized the challenges of running HR
software stores, instead, they have begun to break the odds to create new
synergies through outsourced systems. Most firms surveyed have hinted that
they are mainly concerned about talent acquisition and retention and that
they have concrete plans to spend a fair share of their budget on progressive
technology that shall create seamlessness and efficiency.
Financial experts have noted that employee costs are the most conspicuous
item on a majority of firms budgets. This is the reason why it is important to
embed employees in a firms success equation through operationalization of
HR cloud management systems.
For many years, management of human capital has been mechanistic and
somewhat cast. Fortunately, most managers with the help of HR experts
have realized that the hardcore job of analytics will fundamentally change
the expenditure trend and change the way human resources are managed at
firm level. Whether you are a small firm or not, leveraging this kind of
technology will certainly give your firm an advantage over the rest.

It is true that new recruitments prove productive and less costly from day
one with the help of online onboarding software. This is because this

platform allows firms to streamline their hiring procedures, authenticate their

documents and facilitate training.
Every firm wishes to be able to have access to employee information at a
touch of a button and without much effort. It is possible to track and analyze
your employees remuneration across your departments. HR cloud software
is the answer to all your employee information management needs.
Manual systems of managing HR data make your firm susceptible to
intrusion and are static to accommodate ongoing feedback. By using this
software, you protect your employee information and preserve the culture of
the company without having to panic.

However, Workdays OToole says that being a standalone vendor

makes sense. We work very closely with other packages: Its
something that Workdays very good at. You see vendors with
everything as a collection of software modules, but theyre often a
loose confederation thats very loosely coupled," he says, adding
that Workday will offer better integration and has a close working
relationship with Salesforce, collaborating in several areas.
How will HCM products evolve in coming years?
The growing trend is for HCM functionality to be a much more
integral part of a companys strategy. Were already seeing closer
co-operation between IT, HR and finance and thats something
thats set to continue.
The current trend is seeing IT and HR working together: the HCM
department taking the lead in buying the software but calling in IT
to deal with some of the security issues. When youre a
multinational company, says OToole.
"If you have people in different countries, you have a data privacy
problem. Thats why when we get engaged with a prospect, we
have to get IT people in the room."

That co-operation is important when driving a company forward.

Wall Street is putting a premium on growth and companies have
realised that they cant grow without the right talent and properly
motivated people, says FinancialForces Brennan.
HCM will evolve into a more interconnected solution and will
include a focus on connecting people to the data they need to
make decisions. Leading the way will be social and data-driven
systems leveraging way contextual computing, using software
applications, networks, and services to gain a true understanding
of the user.
Brennan says that will also be concomitant changes
in performance management systems. This will also go through a
complete change, throwing out the antiquated HR compliance
documents, processes and tools. Cloud HCM will introduce
effective tools allowing for real time feedback and fluid goal
alignment leveraging predicative analytics, he adds.
Talking of predictive analysis: will we see closer
integration between Big Data technology and HCM
systems?
This is a growing trend throughout industry as companies look to
make better use of data. According to Workdays OToole, one way
that this technology can help is in looking at staff retention and
churn. Weve launched an application that can predict who will
stay with the company and who will leave. We tried it on
ourselves and that 95 per cent of people that we had predicted
would leave