Critical Factors to Consider When Evaluating a Human Capital Management (HCM) System

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Critical Factors to Consider When Evaluating a Human Capital Management (HCM) System

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Regardless of industry or size, contracts are among the most important documents manage data across the enterprise. They are voluntary, deliberate, and legally binding documents that have explicit expectations for both parties. Contractual documents are created, negotiated, and managed for all mission critical business purposes including procurement, sales, intellectual property, real estate property, information technology, and more. Contract documents dictate the financial, business, and legal terms and define the relationships between suppliers and customers. With the proper visibility and compliance, contracts can simplify all business processes. Making processes more efficient and effective is critical in successful corporate governance and overall management best practices. To know more about contract management practices, go through the full whitepaper: – PowerPoint PPT presentation

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Updated: 14 December 2016

Slides: 9

Provided by: Bob.maroon12

Category: Medicine, Science & Technology

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Title: Critical Factors to Consider When Evaluating a Human Capital Management (HCM) System

1
7 Critical Factors to Consider When Evaluating a
Human Capital Management (HCM) System
2
1 Report Highlights

61 of sales and marketing respondents see data
silos as their biggest challenge.

3
2 Native Cloud-Based Design

A multi-tenant, software-as-a-service (SaaS)
based application dramatically simplifies the
deployment of an HCM system, making those first
steps as easy as the later processes.

4
Single System of Record
3Single System of Record

The core HR, benefits, and payroll functions all
need to share one employee record and require key
pieces of data to inform their role-based
decisions.

5
4Person Position Autonomy

Even as the platform supports data access for
several different purposes, it should still be
able to discern multiple objectives and data
perspectives.

6
User Centric
5 User Centric

The user experience is a key aspect of an HCM
system that will truly impact the ability to pull
information and people together.

7
Distributed Process Flows
6 Distributed Process Flows

Another aspect related to the importance of being
user-centric, is self-service portals that enable
each type of user to better manage and distribute
related work. Admin-only and "back-office" HCM
applications are a thing of the past.

To know about the 7 Critical Factors to be
Considered While Evaluating a Human Capital
Management (HCM) System, visit the below link
http//hr.cioreview.com/whitepaper/evaluating-a-hu
man-capital-management-system-wid-475.html

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