Finance and HR are brothers in arms; both serve the operational business and strive to advise it intelligently and professionally. Each is vitally important to the other as staff costs are often the single largest cost head in the P&L. But how many businesses have perfected the information flow between them?
A larger business may have thousands of employees and contractors; each with a HR record containing numerous key elements which need to be captured by Finance for both planning and actuals. The amount of manual data entry needed to achieve this can be formidable, and the effort and time required can act as a drag anchor to the regular finance processes.
If the data volumes were not enough, there can be further complexities such as different HR and finance core systems, different rules in different geographies, and multiple currencies too. There can be important benefits subsystems such as bonus or commission calculations and payments, or share schemes or options. Finally, the bugbear of employee expenses has to be stored and analysed, dragging the anchor further from its mooring.
Many businesses have dealt with these disconnected HR elements via the trusty spreadsheet. But that can add inconsistency and exposure into the equation, as well as a security risk to this confidential information.
Finally there is a way to get your HR data into your plans and actuals, and to analyse and model it, without the delays and frustrations associated with highly manual processes; a solution that holds steadfast the anchor, keeping the vessel in the bay and escaping the storm. ORYX HR.
STREAMLINE YOUR HR PROCESSES
Accountagility’s HR solution enables full end-to-end automation of all your staff cost capture, calculation, analysis and reporting; freeing up your valuable resources. With full drill-down analysis, reporting and a powerful business rules engine at your fingertips, ORYX HR significantly reduces the time it takes to update staffing costs in either actuals or plans. All within a single environment, where all staffing activities and business logic are managed and updated by regular team members, it gives you and your finance function complete version and data control. We call it straight-through HR processing.
ELIMINATE ERRORS TO SEE THE TRUE PICTURE
We start by removing risk from incorrect or inconsistent data, no matter how many source systems or databases it needs to come from. ORYX HR has an automated workflow with unique inbuilt data validation processes that handle manual inputs and in-house system feeds from all parts of your business. This ensures that all incoming data is checked before you rely on it, giving improved quality and accuracy from the outset.
Now your valuable staffing data can be put into a GL format, complete with posting, and you can start from a stable foundation.
SUPPORT THE BUSINESS IN OPTIMISING RESOURCES
Making the employee picture clearer will allow the finance function to support the business in:
- Understanding the true cost of resources
- Modelling different staffing scenarios rapidly to support informed decision-making
- Optimising the use of resources
MULTI-CURRENCY, THE WAY YOU NEED IT
ORYX HR handles multiple currencies, local reporting and HR regimes, with a set of rules for each Geography. However large the international challenge, ORYX HR can rise to meet it.
INFORMATION – ON DEMAND
We know how important it is to be able to create reports and obtain data extracts – our customisable reporting facility enables you to intuitively create automated reports and analysis activities at a moment’s notice.
Comparing scenarios and analysing data, at any level of detail, is possible with full drill-to-source capability. ORYX HR dynamically delivers instant reporting and the information you need, when you need it.
ORYX HR is one of the fastest number-crunching solutions available, computing large and complex calculations in seconds. It employs in-memory processing to achieve lightning fast results. Such performance can be critical for benefit and share calculations and projections.