SAP has begun to harmonize HCM data from workforce analytics with operational and strategic financial planning by connecting its SuccessFactors and RealSpend platforms.
SAP introduced SuccessFactors integration with its SAP RealSpend platform, connecting its human capital management workforce planning and financial software and allowing managers to align expense controls with employee headcount.
SuccessFactors‘ workforce planning and analytics capabilities are focused on strategic and operational head count planning for employers to plan for hiring and retaining critical employees to support mid- and long-term strategies and goals, according to the company.
Meanwhile, SAP RealSpend, which is based, as is SuccessFactors, on the SAP Cloud Platform, provides continually updated budget and spending information.
Real-time data for head counts
The company said that the SuccessFactors integration with SAP RealSpend will allow managers to access real-time financial data for workforce planningand provide better accuracy for head count forecasts, improved cost controls and better overall alignment between HR and finance.
Lisa Rowan, research vice president, HR and talent management services at IDC who has been briefed on the new SuccessFactors integration, said SAP’s move is a significant market development and represents progress toward filling the need to harmonize HR and other enterprise data, such as financial data.
“Human resources, having access only to its own HR-specific data, can only answer so many questions,” Rowan said. “You can’t really address that bigger picture, of bigger strategic business objectives, with just the HR data.
For Full Story, Please click here.