Oracle Fusion Human Capital Management - Catapulting To Smart Organization (Part1)
Guest post by
Shweta Dhal, Consultant, Infosys
The Human Resources (HR) function has morphed into a more strategic function over the past decade. This transition has caused HR to take on a more inclusive role as business partners supporting the people aspects of what makes up a business. To continue this evolution, Human Capital Management (HCM) departments need effective information technology solutions supportive of optimized global HCM processes, and the decision making tools which can provide better insight to solve HCM -related business problems.
Oracle Fusion HCM gives a new dimension to the Human Resource practice globally by leveraging features of the next generation ERP like Web 2.0, open standards based solution, rich user experience etc. It incorporates the best of breed solutions, thus reinventing the Human Resource function as a whole. The current release of Oracle Fusion Human Capital Management, 11g Release1 comes with offerings which are well integrated to give customers better insight and a holistic view of the Human Resource function, effectively aiding both strategic and day-to-day Human Resource activities.
Oracle Fusion Applications HCM 11g Release1 module footprint:
- Global Human Resources
- Global Payroll
- Goal Management
- Network at Work
- Performance Management
- Talent Review
- Benefits Management
- Workforce Compensation
- Workforce Directory Management
- Workforce Lifecycle Manager
- Workforce Predictions
- Transactional Business Intelligence
Below, I highlight few key drivers and trends which have significant impact on Human Resource function and how Oracle Fusion Human Capital Management is aligned to cater to these trends.
- Enhance Workforce Effectiveness
In today's fast paced business environment time plays a critical role. Reducing the time taken to complete transactional HR work and concentrating on more strategic Human Resource aspects of business is an area which organizations are looking forward to incorporate.
- Use of Workforce Analytics to Support Decision Making
The need to use metrics to effectively measure and manage an organization's workforce is one of the top priorities for business. Workforce related analytics plays a key role to increase workforce productivity and become more proactive in dealing with issues that can plague day to day functioning of the organization.
- Integrated Talent Management
Managing workforce talent in a way which increases organizational level productivity needs automated, transparent, collaborative and proactive ways to manage the workforce through a robust, integrated system. HR strategic decisions cannot be isolated and need to be in tandem with each other to achieve business results.
- Leverage a 21st Century, next-generation Human Capital Management system
Organizations are experiencing that, as their businesses have matured, the processes and systems used to support the business have also grown in complexity. Over a period of time, the cost of infrastructure and staff needed to maintain these processes and systems have also escalated. In light of this, there is a fast-growing approach to move to a 21st century Human Capital Management system which is available in multiple Deployment Models.
In this blog, I have provided an overview of Oracle Fusion Human Capital Management application and briefly discussed the recent Human Resource industry trends. These trends can be very well addressed by Oracle Fusion Human Capital Management Applications. Thus, in Part-2 of the blog, we will provide our Point of View regarding how Oracle Fusion Human Capital Management and its capabilities cater to the recent Human Resource trends.