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You also know that employees are the most valuable assets an enterprise possesses. If you're reading this, perhaps you manage your organization's human resources. If so, you're familiar with the following terms:

  • Workers.
  • Employees.
  • Staff.
  • Personnel.
  • Talent.
  • Human capital.
  • Human assets.

You also know that employees are the most valuable assets an enterprise possesses. Unfortunately, while the humans that make up your human resources are considered a profit center, your "Human Resources Department" is not. You, your staff (if you have one), the health insurance, personal time, compensation and other benefits available to your workers all comprise what most executive suites deem to be a cost (not a profit) center.

Today's HR professionals face a constant challenge of moving away from the old-school manual process toward more advanced HR management. Human capital management software can successfully meet that challenge. HCM software enables you to use cloud technology to capitalize on employees while minimizing costs associated with doing so. Simply put:

Human capital management software refers to applications that are intended to help an organization manage and maintain its workforce...(and is) considered to be enterprise class software that can scale up and automate processes like payroll, performance, reviews, recruiting and training.

When you utilize HCM via cloud technology, you give your organization a tool which acknowledges that your Human Resources Department is actually an asset, one that brings additional worth to the organization by directly benefiting the bottom line.

HCM and HRIS (human resources information systems) are terms often used interchangeably. Although related, they do not, however, mean the same thing. Whereas HRIS deals primarily with daily administrative matters such as recordkeeping, payroll/compensation, benefits, timekeeping, etc., HCM software provides the tools necessary to efficiently and effectively engage in identifying, recruiting, developing and retaining the best human assets available.

In other words, HCM software allows your organization to not only capitalize your employees but maximize their value as well. An HR department that integrates HRIS and HCM software provides management accurate information by which the current value of human capital can be measured and determinations can be made on how to increase that value moving forward.

HCM software utilized in conjunction with cloud technology allows for the centralization of all HR-related tasks. Location is, therefore, not only not a priority but is essentially irrelevant. The ability to compile and share data across all communications platforms with those who "need to know" when they need to know saves both time and money. HCM software that can be accessed via the cloud does away with the time-consuming, inefficient and often error-prone responsibility of producing manual reports from which management must often make difficult, potentially costly decisions.

Using industry-leading cloud-based human capital management will transform, streamline and optimize your key processes. Consider the increased efficiency of your HR functions if all of your data could be communicated from system-to-system and location to location through the seamless migration that the interaction of HCM software and cloud-based IT can provide.

Effectively managing the human assets of your organization is critical to its long-term success. A system which is built on superior human capital management software and utilizes the latest in cloud technology is perhaps the best tool available to capitalize on your employees and maximize their value. If you can do those things, you will have gone a long way towards maximizing your value as well.

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Vijay Nachimuthu

By Vijay Nachimuthu

Vijay Nachimuthu is a Managing Principal of AltaFlux. His blogs mainly focuses on latest cloud technology trends and its impact on enterprises.