January, 2018

How to Get the Most Out of Your Technology Stack

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How to Get the Most Out of Your Technology Stack

In the world of HR technology, the cloud has been a game changer. The cloud gives businesses accessibility to solutions needed to drive growth and success. By having a mix of applications, companies are able to stack solutions together to automate their processes.

The same concept applies to HR. Having the right stack of solutions for processes like payroll, HR, attendance, recruiting, and onboarding can mean the difference between achieving your goals or falling short. So how do you know if your HR solution stack is providing the building blocks for success? We’re going to explain what a tech stack is and how to get the most out of it.

What is a Tech Stack?

Generally speaking, a tech stack is a group of applications that work together to automate processes. This automation not only saves companies time, but also money. That’s all good and well, but we want to challenge the traditional technology stack with our own version: the unified HR technology stack.

Stacking Your Deck with Unified HR Technology

Unlike a traditional tech stack in which disjointed applications are “stacked” upon one another for additional flexibility and functionality in a base system, a unified HR tech stack allows you to expand the core functionality as little or as much as required. As your company grows, your HR tech stack grows with you in the same system. This is a powerful differentiator because organizations can maximize their ROI by only using the tools they need at any given time.

Some of the key benefits of a unified HR technology stack are:

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Increased Efficiency: Automated processes are streamlined, saving key administrators time and headaches. Rather than switching from multiple systems, companies are able to easily house and utilize data in one database.

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Improved Time Management: Because everything is in one place, businesses can save time not only on typical administrative tasks, but also run the appropriate reports associated with company data.

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Reduced Operational Costs: Businesses save money when they can rely on one system to manage their workforce rather than several individual solutions that are integrated. The operational costs associated with a unified HR tech stack are lower than paying for the implementation, support, and utilization of multiple technology solutions.

Traditional Tech Stack

A traditional tech stack is a lot like Jenga blocks. Together, they form a strong unit, but take one block away and the stack could topple.

Unified Tech Stack

Think of a unified HR tech stack as a Hoberman Sphere. You start with your core functionality and the platform expands as your business needs grow.

Bonus Stacks

As you can see, a unified HR tech stack alone is powerful. However, companies also need the ability to stack their HCM with other applications to further streamline their transactional processes. So here are some bonus stacks to consider:

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Expense Reporting: When added to an HCM system, this bonus stack streamlines expense reporting and eliminates antiquated receipt tracking. Integrating with a system like Concur, a cloud-based, automated expense management solution, grants companies greater transparency into their expenditures.

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Learning Management Systems: An LMS offers the education courses and online training capabilities to existing HR tech stacks. Software like CypherWorx brings existing training into interactive, trackable, and customizable content and amplify the scope of your current HR tech stack.

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Financial Software: By integrating HR technology with finance applications like Sage Intacct, payroll data automatically syncs with your company’s General Ledger. Stacking your HR technology with your financial software offers minimized risk and simplified bank reconciliation.

How Does Your HR System “Stack” Up?

Now that we’ve introduced the concept and benefits of a unified HR tech stack, it’s time to take a look at how your HR system stacks up. If you are finding costly inefficiencies in your current processes, implementing a unified HR tech stack that has the ability to grow with your business is a step in the right direction. As your business grows and you have more needs, having an intuitive HR system that can grow with you is a must.