HCM technology has the potential to streamline processes, reduce errors and decrease administrative busywork. But when tech is built on multiple databases from different providers, it results in disparate data, inaccurate reporting and manual reentry.
A nationwide survey of HR and payroll professionals revealed a disconnect between the HCM software they use and the goals they hope to achieve. Those goals include improving analytics, increasing efficiency and reducing compliance risk.
A large majority (78%) think the software they use can help them meet their goals. But with an average of 6.17 HCM providers in place, how can they hope to achieve data accuracy?
Failure to communicate
With their data spread across multiple databases, 71% said transferring or sharing data between them wasn’t possible. That’s because patched-together systems weren’t designed to communicate with each other, with 80% saying they had significant difficulty creating accurate reports.
A single solution
The study concluded that when payroll and HR functions across the employee life cycle live in a single, automated HCM software built on just one database, businesses can improve decision-making, reduce HR’s burden, run accurate reports and experience the efficiency of full-solution automation.