74 percent of businesses say cloud migration will enable greater cross-team collaboration, but can HR and finance truly align? As a finance or HR leader, you shouldn't have to struggle to share information from disparate systems. A unified solution for finance and HR provides insights into how change impacts budgets, forecasts, talent, resource allocation, and more.
Check out how companies worldwide conduct strategic enterprise planning—particularly in uncertain times. MIT Technology Review Insights, in association with Oracle, surveyed in second half of 2020, 860 executives across various departments including finance, human resources (HR), supply chain and logistics, and information technology.
An integrated cloud helps you:
Be ready for anything and fully prepared to pivot forward into what’s next for your business. Choose Oracle Cloud ERP and Oracle Cloud HCM and discover how an agile, scalable, end-to-end intelligent cloud unifies your finance and HR organizations.
Besides the benefits gained from working together, finance and HR also see clear rewards within their own organizations. In other words, HR is stronger as a result of collaboration with finance, and finance is stronger from collaborating with HR.
Organizations are gaining greater productivity by:
Source: AI@Work Study 2020
With Oracle Cloud, HR and finance can efficiently collaborate and plan for the future, with confidence that the information shared is consistent and accurate. Prepackaged, real-time analytics help teams make strategic decisions and improve business agility in times of urgent change.
Oracle Cloud brings together ERP and HCM on one cloud platform with a common data model. Having a single employee record across finance and HR streamlines processes, eliminates redundancy, and reduces errors. With a unified solution, many functions that span finance and HR—workforce planning, payroll, time and labor, procurement, and accounting—gain increased productivity and streamlined processes.
Oracle Cloud offers an end-to-end solution that is agile, scalable, and intelligent. It includes built-in artificial intelligence and machine learning as well as conversational digital assistants and chatbots for simple, easy interaction. Oracle Cloud also offers the flexibility to expand cloud capabilities to other areas of your business beyond finance and HR.
“For the life of me, I can’t think of a rationale why you would go with separate vendors for HCM and ERP.”
TrueBlue replaced over 20 solutions – including Infor, Workday, and Blackline – with a unified Oracle Cloud solution to streamline its back-end operations and connect people with work. “We didn’t integrate our old applications with Oracle applications,” says TrueBlue CFO Derrek Gafford. “We are replacing all of those applications entirely.”
Moving its financial and HR systems to Oracle Cloud ERP, EPM, and HCM has helped the university spend its budget where it counts most: in the classroom and research lab. “I’ve been in IT for 20 years, and I’ve never before seen a company’s products advance as quickly in a year as the Oracle Cloud products advanced.” Says Jon Allen, Interim CIO and Chief Information Security Officer, Baylor University.