As the world is ever-changing due to the COVID-19 pandemic, organizations need to be prepared for future disruptions. Adopting new processes, using the right tools, and innovative technologies can help them face the challenges to achieve greater transparency.
This pandemic has also reshaped the employees’ views on the organizations. To meet their expectations, many organizations moved to a combination of best-of-breed Finance and HR solutions that deliver different results according to their directives. This approach of having different solutions was problematic and lead to critical errors and incorrect decisions.
To tackle these problems, organizations are starting to shift to end-to-end, single-vendor solutions such as Oracle Cloud. This helps organizations to share data instantly, improve visibility, and empower finance and HR to deliver the best results.
According to Forbes, cloud computing has been touted for its flexibility, reliability, and security. It is also one of the few saving graces for businesses during this pandemic.
Benefits of finance and HR on the cloud:
Vital information is no longer trapped
With the unified cloud solution, vital information can be accessed through a single system that eliminates communication issues and helps in quick and easy flow of data. Manual workflow can be automated, freeing users for more value-added functions. With the real-time data, finance and HR teams can collaborate to make better decisions for the organization.
Metrics that speak the same language
Finance and HR have common goals and are dependent on one another for the execution of major organizational strategies. But both HR and finance have different languages. HR lack in understanding numbers and ROI, whereas finance lack in understanding people.
Is there anything that can help them to work together?
Oracle Cloud helps to quantify any HR Activity or measure the impact of a program. This would help HR speak the language of finance and business through the use of key metrics.
The information is displayed on dashboards so that finance and HR teams get better insights quickly to plan and make accurate decisions.
Keeping up with the pace
Oracle Cloud offers organizations to modernize their legacy systems, automate processes, and facilitate innovation. It also provides access to the finance and HR teams with the latest technologies like adaptive intelligence, machine learning, and block chain to provide better visibility. The embedded workflow saves time and reduces error resulting in enhanced planning capabilities. Its consolidated nature enable organizations to avoid complex customizations and help in allocating resources to the right projects.
Having a finance and HR cloud together in a smooth and productive relationship is advisable. It enables them to deliver the best results for the organization to stay ahead of the curve. Oracle’s ERP Cloud and HCM Cloud provides Finance and HR teams to have a comprehensive view of the system to achieve greater work efficiency. Aspire Systems has Oracle certified experts to provide complete information on how Oracle Applications provide flexibility for increased collaboration during and post-pandemic.
Aspire Systems has been helping organizations to effectively deal with the pandemic by providing complete information on how Oracle Cloud Applications enable them to deploy work faster using a unified platform.
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