What did 2020 Teach Us About Digital Transformation?
Embrace HCM Reports and Cloud Applications
Among the many lessons we can glean from 2020 is that digital change is underway and it will continue into the future. That’s why company leaders, including HR and finance professionals, need to stay up to date on different digital tools that can help their organizations. Drawing on information from Oracle, known for innovations like the BIACM and cloud solutions, lets recap some of the chief ideas 2020 brought to light.
Supply Chain Lessons
Last year showed us that disruptions to supply chains need to be understood, even if they are unforeseen. The best way to prepare for challenges, unpredictable or otherwise, is to have nimble solutions already in place ahead of time. The more adaptable supply-chain management software is, the better it will be able to respond to whatever the future holds.
The events of 2020 have taxed employees’ mental health to a great extent. However, its impact is far from over. Workplace intelligence gathered via Oracle’s HCM Cloud reports state that over three-quarters of employees felt mentally damaged by the pandemic. Nearly the same percentage said the stress reduction and other benefits achieved through AI technology boosted them at work. Examples include digital assistants and automated software that can remove menial tasks from already-taxed employees’ plates.
Another way workplaces can support their employees is through effective development and proactive compensation management. That is an area where the HCM Fusion suite can help by delivering predictive reports on what employees likely desire and their likelihood of leaving.
Many finance leaders discovered cloud applications significantly outperformed on-premises applications. Those that already had cloud solutions in place were well-positioned to respond to the financial disruptions wrought by the events of last year. The ability to collaborate virtually across time zones removes a huge burden from high-level financial executives’ shoulders.
Customer Experience Lessons
The events of the pandemic shifted many customers’ expectations from businesses. For instance, safety and excellent service shifted from being a plus to a virtual necessity. In this realm, Oracle has positioned its customer-experience-focused software as a way to develop personalized solutions and deliver fast, effective responses to customers.
See What Oracle BIACM Can Do For You
The pandemic has touched every level of organizations. Embracing digital changes now and in the future can help us move through the current crisis and be prepared for future ones. Learn more about how DataTerrain reporting can help your company grow and adapt to any change in business environment by contacting us here.