Why Senior Payroll Execs Need to Advocate for HCM Optimization.
Payroll executives’ roles directly touch on the effectiveness of their company’s Human Capital Management (HCM) system. HCM software should have continual impact – on business strategy, on productivity, on efficiency, on compliance and yes on payroll. Streamlining payroll processes and reducing payroll leakage are only some of the benefits that advocating for a continually updated HCM system will bring.
Getting Full Value From The System
HCM software is a significant investment. However it doesn’t reach its full potential without the right configuration and continual refresh to ensure it is working for your business needs today (not those when you bought it).
Not updating or optimizing your HCM software is comparable to buying a great car but not getting your driver’s license. To fully reap its benefits – and essentially get what you paid for – you need to champion for its configuration to align with key business objectives. Whether this is improved productivity, reduced operating costs, strict compliance, deeper workforce analytics or more – the right optimization partner can ensure that you get to access and use these functionalities and reap maximum value.
An implementation partner like Covalence Consulting Inc. has the proven expertise to help you navigate your software optimization and help you get full system use.
Bottom line: workforce performance effects company performance. An organization’s employees are its greatest expenditure and an incredibly valuable asset. Without robust and modern Human Capital Management you risk mismanaging your staff and not obtaining the full return on investment that you have made in them.
With constant changes in your industry as well as in the regulatory environment along with the need to remain competitive, you will quickly realize that elements such as workforce productivity and time and attendance are incredibly important. Configuring your HCM investment to deal with these types of challenges gives you tools through which to maximize workforce efficiency and identify current areas of concern.
Full Feature Use Equals ROI
When you implemented your HCM software you were essentially given a tool box. But without post-implementation support, training on feature-use and tailored optimization you’re letting your powerful tools collect rust in the box.
Modern HCM entails pinpointing problems through working with an implementation partner and swiftly addressing them whether it is through policy or system functionality.
For example the reporting in your software can show you that time and labor intensive payroll process workarounds are costing your enterprise organization X amount of dollars per year.
Knowing this you can configure your HCM software to streamline processes around this bottleneck. Improving efficiency and reducing cost are a key concern for senior payroll professionals. An ongoing optimization plan that involves regular review and potential configuration improvements to your software is key. With it your organization is better able to address important changes that translate to bottom line dollars.
Drive Real World Solutions to Your Real World Needs
If it’s been a while since your HCM system was implemented chances are that its effectiveness has begun to decline. Work processes, personnel, compliance requirements and business needs all change – sometimes in a matter of months. If your software is not updated accordingly or was not configured to adapt to these changes to begin with – you lose out on full feature use.
Combat the loss of functionality, reduction of system performance and value with Covalence Consulting Inc. With multiple enterprise level clients we are the Human Capital Management system implementation experts who are in your corner. Let’s talk!