With the summer almost over and fall quickly approaching, HR leaders are kicking into high gear planning for Benefit Open Enrollment, Budget Planning, Compliance Reporting, and Mid-Year Reviews. If you are like so many other HR leaders of mid-market organizations, you may have elected to upgrade or deploy a new Human Capital Management (HCM) software platform with a January go live.
Multi-generational, virtual, and global workforces have added a new layer of complexity to the traditional functions of HR, Payroll, Benefits, and Talent Management. Attempting to manage all of these functions via disparate solutions is proving to be a major challenge for HR leaders, yet many organizations still operate off of 3-4 systems.
In response to the SMB client driving up the demand for a single system of record for all things HR, both traditional service bureaus and HR technology vendors began developing and promoting an all-in-one, unified, single HCM platform.
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Who is responsible when HCM technology and service vendors fall short of delivering on the desired outcomes?
Are vendors over promising, or are buyers making assumptions about technology and services during their evaluation process that haunt them later?
After two decades of sales in both the mid-market and enterprise HR space, I have seen a dramatic shift on how buyers and vendors engage. In the late 80s and early 90s, prospective buyers had to rely on direct interaction with sales representatives to learn about products and services and sales representatives needed to meet with prospective buyers to learn about their businesses and their requirements.
So what is the difference between a Payroll/HR Service Bureau and a Human Capital Management Technology provider?
This question continues to be asked by thousands of HR and Finance Executives trying to make a decision on the type of partner they should choose to help them with their HR, Payroll, and Benefit Management needs. There are fundamental differences between the two, but often the areas of distinction are cloudy for the decision makers. The risk of choosing the wrong partner can be extremely costly to any organization.