In today’s enterprise era, the major value driver is not only the inventory of the company but also the workforce of an organization in the form of talent. Thus it brings challenge for the organizations to get a unified finance and HR solution for talent-driven design. This challenge has emerged due to the difference in the structure of the companies in recent years than it was then in the industrial era.
Workday’s unique offering of Human Capital Management and Financial Management fulfills the requirement of the market. This is a far superior business management system that provides the insights which is beyond the capabilities of any other tool. To keep pace with the frequently changing regulatory requirements, the organizations are required to get a better insight into the HR and finance connections. Also the data compiled must be secured.
The best organizations in the market are likely to have unified system for HR and finance and almost 88% of the organizations have already implemented the cloud solution because of the low investment in the ownership of it.
The benefit of the unified system is that the organizations can schedule the workforce on the basis of production and service requirements. The HR budgets of the companies can be highly reduced by getting the combined data. The unified solution has the capability to connect the two dots of finance and HR as every execution decision in an organization is highly dependent on financial and human resources. The organizations that can realize the importance of this merger are best prepared for the success in this modern world.