During the free global webinar “Realize the Benefits of HCM Investment,” experts discussed how to increase the accuracy of payroll and improve the employee experience through the flow of data between a company’s human capital management (HCM) solution and its global payroll.
Making the presentation were representatives from Immedis—Dave Muldoon, Director of Integrations, and William Murphy, Senior Solutions Architect. They reviewed the key benefits of integration with HCM and how it means different things to different service providers.
Over the last few years, Muldoon has worked on building integrations in the payroll space with companies like Workday, Ceridian, and UKG. Through “practical advice and guidance,” he hoped to share his insights into what a “really good integration looks like,” how to “unlock some of the benefits” that are available through HCM, and how HCM helps payroll teams across a global landscape.
“HCM is a market that is expected to grow very fast in the next three to four years,” Muldoon said. “The trends behind that growth are the technology stakeholders in organizations that are driving demand for HCM in the cloud. The pandemic has changed the rules in employee engagement, so we’re seeing huge demand to manage talent that is remote and mobile. HCM systems are key to that.”
This includes the first time a potential employee submits a job application at a company. Once they are in the system, HR can manage the onboarding experience from the very beginning.
“It’s becoming an end-to-end journey,” Muldoon said. “It’s becoming a platform to manage all aspects of the employee life cycle.”
A small sample of the information that HCM can collect in 2022 includes recruitment (candidate management and sourcing), core HR (benefits and expenses), payroll (country specific compliance and financial integration), talent management (career planning and training), and workforce management (time entry and paid time off).
“We see the HCM systems with very broad capabilities,” Muldoon said. “What are [customers] looking for as a return on their investment? They’re looking for a seamless experience. We truly believe that integration plays a key role in [that] because it allows the process to flow. If you have your HCM system and your global payroll system integrated, the data can flow consistently from one platform to the other.”
For Muldoon and Murphy, integration is a lot about trusting the business process and knowing that the information will reliably reach the payroll system.
“Integration puts boundaries and checks on the data that is moving,” Murphy said. “It puts structure and control on the data as opposed to a human moving the data via an Excel sheet or a human trying to remember the process that was agreed to.”
In the long run, payroll is one of the departments that will benefit the most from integration, especially if companies are able to map out the capabilities and get a good sense of where the organization currently is.
“If an organization is looking to refresh its integration or looking to get more from it, it’s a great time to check those capabilities that are in play and figure out if they’re getting the most from their HCM,” Muldoon said. “If you have an automated payroll process, then you absolutely can have more confidence in your data.”
The free webinar, “Realize the Benefits of HCM Investment,” is currently available on demand.