Businesses investing in cloud HR technology are reporting IT and operational HR cost savings, according to a report from a leading global technology advisory firm.
In a survey of HR leaders by Information Services Group found that half of respondents reported savings of between 10% and 30%, with a further 15% reporting savings of up to a third on both IT and HR costs.
With integration increasingly on businesses’ agenda, forward thinking organisations are searching for ways people data can be used to further increase efficiency across departments.
Over two thirds of respondents reported plans to combine their HR and ERP systems on a single platform, making HR’s rich, insightful people data available for use in value-driving departments like finance and project planning. With platforms such as XCD's single solution HR and payroll software, organisations will be guaranteed a management process that is both streamlined and much more accessible.
One of the report’s co-authors, ISG HR Technology partner Stacey Cadigan, said that the research demonstrated that businesses were realising the cost benefits from their SaaS investments.
“Now that savings are firmly established, the next area of opportunity lies in achieving ongoing business value from these platform technology solutions,” she said.