The coming months promise to bring significant changes to how organizations around the world conduct business as usual. Whether that means adopting new automation solutions or adapting to GDPR requirements, technology and its ability to simplify, quicken, or improve work activities is poised to play a critical role.
In this October edition of our Partner Digest, we take a look at how key HCM players view and employ technology to provide better services and experiences for their customers. Key new products are delivering greater insights through data and analytics, while workforce management applications are helping to keep employees engaged. Meanwhile, technology as a whole is driving strategic global growth for middle-market enterprises—meaning new advancements are sure to shape the future of business worldwide.
Workday on the Importance of Data and Analytics
While the value of understanding trends within both your industry and your organization is evident, the means for thorough evaluation and strategic planning still elude many multinational organizations. Leading service providers are working to deliver better methods of measurement and analysis by harnessing what is arguably their customers’ most valuable resource: their data.
Workday rolled out their new Benchmarking and Prism Analytics products, which promise to give customers greater visibility into and understanding of their organizational performance, including workforce metrics, financials, and more. A recent blog post explains how Workday sees these products as “doubling down” on data and analytics to provide a superior service and experience for their customers.
“Additional context around your data can help business leaders better diagnose the reasons behind particular numbers. And, these contextual insights can guide a smarter prioritization of business initiatives, best practices, and resource allocation.”
Like CloudPay with global payroll data, Workday is able to offer customers incredible insight into the mine of data created from good human capital management. By harnessing the power of that and handing the reins to their customers, Workday is empowering multinational organizations in new and significant ways.
Kronos on the Pivotal Role of Payroll in Employee Engagement
Ongoing technology developments are enabling motivated organizations to do ever more to provide a positive experience for their employees. As a critical piece in any worker engagement, global payroll is uniquely positioned to add value to that experience and help ensure employee satisfaction.
Kronos recently explored the critical role payroll plays in employee satisfaction in an article that details three key technologies customers can use to improve worker engagement. Modern time-collection devices help automate accurate timekeeping, and attestation tools help employees be invested in ensuring accurate time and therefore accurate pay. Finally, self-service solutions on apps and mobile phones make it easier and more satisfying for employees to help themselves and keep their information up to date.
“With its close connection to the employee experience, payroll has an important role to play in creating and supporting employee engagement. Utilizing technology solutions such as next-generation data collection devices, attestation tools, and mobile and self-service technology can help you ensure your employees have a great experience with your company—the kind that leads to strong engagement and retention.”
EY on the Driving Force of Technology in Global Growth
Technology has also proven to be a driving force in the global strategy and expansion of middle-market enterprises, particularly those based in the US, according to a recent global survey and report by EY.
With their future growth efforts focused on global expansion, US organizations are harnessing technology at significantly higher rates than their international counterparts, with EY finding that US C-suite leaders view technology as the primary driver of innovation while the rest of the world ranks it sixth.
Notably, EY cites the early adoption of robotic process automation (RPA) by US middle-market companies as evidence of their ability to harness technology as a driver of growth.
“Convergence driven by digitization is the key enabler for C-suite leaders,” says David Jolley, Americas Growth Markets Leader, EY. “We now have the digital bandwidth that supports the transmission of enormous amounts of data. That, combined with the ability to manage data in the cloud, has created the platform for new solutions and operating models. In turn, this has enabled emerging and middle market companies to come to market and scale much more quickly.”
CloudPay welcomes new technology providers into our Partner Network on an ongoing basis. Contact us to find out whether your software providers partner with us, or to learn if your organization is a smart fit for a potential strategic alliance with CloudPay, a leader in global payroll.