Traditional HCM Systems bring along challenges with them in Core HR such as handling multiple data systems, coordination between distributed workforce and managing diverse entities. HR Tech can bring substantial impact in Core HR by reducing transaction time, improving HR teams productivity and reduce risk that arises from incorrect data.
Workforce management via traditional HCM Systems face challenges of adoption by employees while managing different work types and ensuring correct tracking of data is happening. On the other hand, HR Tech in workforce management can reduce revenue leakage via employee costs, reduce ghost employee payments and increase employee productivity.
Payroll process on traditional HCM systems are problematic due to frequently incorrect salary disbursement, as well as added hassle of managing reimbursement and probable risk of legal liability with incorrect processing. Integrated Payroll via HR Tech can reduce reimbursement cycle, improve employee experience and reduce full and final settlement.