According to a Bersin by Deloitte study, 61 percent of HR professionals surveyed plan to replace their HR software within the next 18 months. That is exciting news for the providers wanting your business. But with no online match sites for human capital technology vendors, how do you sort through the suitors courting your company?
It can be overwhelming; the promises of happiness ever after in the cloud, sentiments of a single source solution to meet all your needs and the bold assurances of the satisfied partners in their wake. How do you tell vendor right from vendor wrong? Forget your matchmakers and RFPs, all you need are the tips in our latest blog series to find the HR technology vendor of your dreams.
Tip 1: Look for the Total Package in One Application
Your dream vendor should be able to meet your human capital management needs in every aspect of the employee life-cycle including Talent Acquisition, Time and Labor Management, Payroll, HR Information Management, Talent Management and Benefits Administration.
However, vendors package their technology differently and it’s important to understand the differences between a single source solution and a single application solution. Vendors that offer you a single source solution typically provide a product set that consists of multiple programs integrated together. They may or may not have developed the programs themselves. Integrating multiple programs can lead to users entering information over and over, products not syncing correctly and limitations and errors in reporting.
With a single application, your data workflow is seamless. This means users only enter information one time, data updates in real-time across all functionality and reporting is comprehensive and consistent.
The total package is hard to find so when you do, hold onto it. But don’t settle to early, you only want to switch technology vendors if it’s going to make your life at work better. See Part two in our series on “Finding Your Soul Mate in Human Capital Technology” to learn what vendor attributes will provide the most positive impact on your business.
