Oracle HCM Cloud Tutorial

This article explains about the Oracle HCM Cloud Applications offering from Oracle.

As technological advancements are increasing day by day, customer needs are also increasing with it. Many times, organizations and businesses face difficulties in managing everything all together. Increasing customer needs means an increase in the workload and thus the need to manage everything properly arises. In this case, to help the organizations reduce their stress, Oracle has introduced its HCM Cloud. It helps the organization for efficient human capital management and thus ultimately achieving the goals in a much simpler way.

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What is Oracle HCM Cloud Applications?

Oracle Human Capital Management Cloud or Oracle HCM cloud is another software by the Oracle Corporation which enables HR leaders to manage every stage of the employee lifecycle by delivering end-to-end solutions to them. It can perform every job efficiently such as attracting talent, screening, compensation, and benefits, onboarding, managing payroll, developing talent, managing performance, optimizing workflow, and managing the time and absence of the employees. It further helps the executives and individual contributors to make a better and smarter decision as it is a solution built with an AI approach.

The business goals of the organization are aligned to the HR department as this solution integrates with several modules such as the supply chain, financials, and customer service. The Oracle Corporation has also even provided this software to the users with the PaaS extensibility for custom-built applications.

Why Oracle HCM Cloud Applications?

Oracle Human Capital Management Cloud is better than any of the existing HCM solutions. It increases the workflow, engages with the employees, gives quick answers, executes processes faster than ever, increases business performance and agility, and outpaces changes with its unique features and innovative powerhouse.

It allows the executives and human resource managers to easily manage the workforce at their organizations while also keeping track of the time and progress of a project by each employee. Overall, it helps businesses achieve their goals and progress at a fast rate every day.

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Why you should use Oracle HCM Cloud Applications?

The technologies that people use in their daily life are a great help to them and thus they go for the same things so that they can get the same experience in their lives. Oracle HCM Cloud should be used by every organization because of these 10 reasons –

  1. Personal and Modern User Experience – The interface of Oracle HCM Cloud is user-friendly and it can be easily personalized according to the user’s needs and styles which then makes it easy to make their day productive. It matches the organization’s culture and also provides a delightful mobile experience to the users.
  2. Adaptable and Extensible – It can get the work done independently and efficiently for your organization. The users can easily configure the organizational chart, model the workforce with compensation data, and set up all the processes without the involvement of IT guys. It adapts and extends itself with the environment.
  3. Intelligent Application – Artificial Intelligence combines data with machine learning and helps improve talent management, increase operational efficiency, and provide complete workforce insights.
  4. Complete HCM Cloud – This software is built as a single cloud solution for everything that the customers need whether it be talent management, learning, talent acquisition, work-life, time, labor, or payroll management. It even connects the organization with applications for finance, sales, supply chain, and marketing.
  5. Business Value – Oracle HCM Cloud benefits its users by increasing the business values as it gives –
    • 98% of employee adoption
    • 95% reduction in manual work
    • 100% elimination of inconsistencies
    • 84% cycle –time reduction
  6. Innovation Powerhouse – With the latest technologies such as artificial intelligence, the internet of things, chatbots, etc., customers can always plan for the days coming ahead for them.
  7. Data Security and Privacy – Security is the top priority for Oracle. They don’t let their customers worry about their data being insecure. It has the world’s best security experts in information, database, network security, and application.
  8. A Vibrant HR Community – It comes with a vibrant HR community having 30000+ HCM members to help the users whenever they are in need.
  9. Customer Success – It optimizes the system, provides on-demand education, success planning tools, and access to implementation success manager to its new customers.
  10. Global Capabilities – It meets both the corporate and regional needs of the customer and has 25+ languages for customer’s comfort. It can prove to be the global solution for an organization.

Oracle HCM Cloud Applications Features

Oracle Corporation always had the best interest of their customers in mind and thus included new modules and features to its software which includes:

  • Strategic Workforce Planning – Helps employers align employees and strategies for future workforce needs accordingly by evaluating skills.
  • Recruiting – Better hiring decisions are made because of a data-driven approach.
  • Global Human Resource – Streamlines HR processes. Provide tools such as self-service functionality and workforce directory for giving information on costs and impacts.
  • HR help desk – Gives the right HR answers to the employees.
  • Workforce Compensation – Aligns compensations, bonuses, and rewards with the employee’s performance and has a large number of compensation plans.
  • Benefits – Provides benefits according to the specific needs of the customer. It has an extraction tool that provides information to third-party benefit providers.
  • Goal Management – Tracks and manages goals and aligns them with the overall talent management process.
  • Performance Management – Provides proper insights about the workforce performance to managers and executives.
  • Career Development – Helps employees identify their career opportunities and bring them closer to their goals.
  • Learning –Responds to changes in business, increases productivity, and enables knowledge.
  • Talent Review and Succession – Provides complete and integrated talent review and successful solution.
  • Work-Life Solutions – Provides tools to achieve work/life balance such as My Competitions, My Wellness, and My Reputation.
  • Workforce Health and Safety Incidents – Provides tools to report safety violations and accidents so that managers can take quick actions.
  • Time, labor, and absence management – Allows employees to track their time and maintain the record of their leaves, the time they worked, and the work they finished.
  • Payroll – Supports payroll processing.
  • Advanced HCM Controls – Maintains security and regulatory compliance, monitors, and manages exceptions and policy violations too.

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Oracle HCM Cloud Applications Benefits

To face their challenges, human resource leaders all around the world are looking towards Oracle HCM Cloud to help them. Companies aren’t able to keep up with all the technological advancements and thus the load of work makes them feel disconnected, disengaged, and frustrated. To help them overcome these challenges, Oracle HCM Cloud provides them these benefits:

  • It delivers human experience at work and empowers the employees to perform their best at work. Its voice-based UI and a digital assistant engages the employees in a natural conversation giving them quick answers and executing processes from any device.
  • Chatbots provide efficient customer service, helps boost right hires by 11%, and reduce the hire time by 44%.
  • Smart learning and talent management allows employees to take charge of their careers.
  • Improves engagement by 15% and employee satisfaction by 20%
  • It aligns people and business strategies increase productivity by 34% and reduce IT costs by 50%
  • It drives business transformation and makes the customers feel more powerful, connected, engages, and confident.
  • Increases business agility by adapting the increasing pace of change and thus provides complete, real-time, and accurate visibility across the workforce.
  • It helps make faster and better decisions.
  • Keeps the customers one step ahead with all the latest technologies including Artificial intelligence and machine learning.

Oracle HCM Cloud Applications New Offerings

The Oracle HCM Cloud makers wanted the product to be perfect and thus included all the modules, functions, and operations that the user would require to fulfill his needs. It helps the company’s manager their core HR tasks as well as strategic tasks. It delivers an end-to-end modern interface that can perform all the functions well and fine. It has included all the possible new features such as Payroll, Strategic Workforce Planning, HR help desk, Learning, Career Development, Time, labor and absence management, etc., which allows the organizations to meet their goals, objectives, and missions on time, with the least errors made and ensuring quick deliveries.

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Advantages and Disadvantages of Oracle HCM Cloud Applications

Despite having so many features, functions, operations, and benefits, the users should always look at both sides before running to a decision. There are several advantages and disadvantages which Oracle HCM Cloud has that must be considered by the customers before finally buying the product.

Advantages

  • The software is super easy to set up, notifies, and tracks everything on time and generate reports precisely.
  • It confidentially maintains accurate employee records.
  • Helps even small to medium organizations to maintain the best HR standards.
  • It is a stable software and executes many capabilities with ease.
  • The UI and interface are user-friendly.
  • Maintains daily attendance, leave requests, and employee profiles properly.
  • Can be integrated with mobile so that employees can easily manage HR-related activities.
  • Streamlines the way organizations administer allowances and payments and talent review, goals and performances are perfectly handled by its talent management system.

Disadvantages

  • It is not very flexible for customization and is not compatible with every internet browser.
  • For the effective performance of some of its modules, it needs a stable internet connection.
  • It takes time for the new employees to fully familiarize themselves with the system.
  • Lags sometimes while loading and the home page is less detailed than it normally should be.
  • When comparing it with other similar solutions, it is a bit costly.
  • Personalization of the pages is not easy and it is a time-consuming process.

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