Oracle Fusion HCM Product Review
The Oracle Fusion HCM software suite is made up of 3 distinct offerings ("Core HCM/System of Record"; "Business Intelligence"; and "Talent Management"), that together house 13 separate software modules. "Core HCM/System of Record" houses the modules of Global Human Resources, Global Payroll, Global Payroll Interface, Benefits, and Workforce Lifecycle Manager. "Business Intelligence" houses the modules of Transactional BI for Human Capital Management and Workforce Predictions. And finally, "Talent Management" houses Incentive Compensation; Performance Management; Workforce Compensation; Network at Work; Goal Management; and Talent Review.
A high-performance, graphical, rules-based payroll management system that is designed to keep pace with the changing needs of your enterprise and workforce in order to reduce set-up costs, administrative, and processing time, Oracle Fusion Global Payroll uses a highly scalable processing engine designed to make use of the features of the Oracle database for parallel processing; and in countries with payroll extensions delivered and supported by Oracle, delivers the payroll, tax reporting and regulatory rules required to accurately process payroll and remain in compliance. Key functionalities within this module include: built-in payroll dashboards; payroll automation with payroll flows/checklists (with embedded analytics); an international human resources and payroll wizard for over 200 countries worldwide; a single global rules engine, and Multi-national & multi-business unit organizations. Further, fully integrated with Oracle Fusion Sub Ledger Accounting and Oracle Fusion Cash Management (which allows standardization, automates processes and rationalizes systems to increase operational efficiency), this module also allows for retroactive adjustments to employees’ past earnings, deductions, even costing (based on changes to pay rates, benefit elections, cost account changes or other information).
Additionally, this module is fully integrated for reconciliations across the enterprise with common business standards and allows for: quickly designing multiple programs, plans, and options with reuse of common objects; presenting eligible benefits and individually determining costs for each user; automatically detecting and processing relevant events in Global HR; quickly modeling programs and plans (using guided flows for consistency); and maintaining a dashboard overview of all processes, including analytics that drill down into core capabilities.
A Comprehensive benefits solution, Oracle Fusion Global Benefits controls key benefits processes triggered by a life event, such as the elections that can be made, coverage start dates and end dates, appropriate defaults, and required communications to be sent. Life event definitions may vary by customer or country, and may be dependent upon multiple conditions. As such, the organization can configure the necessary conditions that define a life event, and the system automatically analyzes and determines the impact of the event on the person's benefits—all without any manual intervention. Further, eligibility policies and criteria as well as calculation rates can be configured without modifying the application code. These rules and criteria can be shared across plans and are maintained from upgrade to upgrade. In addition, user-defined attributes may be selected and added to eligibility and/or rate requirements.
Global Human Resources
While basic, this module of the Oracle Fusion line is fully functional and provides a simple system of record geared towards planning, hiring, managing, and analyzing a company's workforce via headcount, position, budget, and cost consolidation; as well as providing flexible modeling support for global (or segmented) organizations in both standardized and shared employment structures. That said, Oracle’s re-conceptualization of self-service is innovative and rather than having self-service be limited to managing human resources data, the Fusion HCM solution ties that self-service to everything from skills assessment to mentoring and from networking to organizational charting—delivering a newer transformational type of self-service for employees. Aside from those elements, this module provides support for multiple work relationships that employees or contingent workers may have with multiple legal employers, multiple assignments, or individual contract agreements. Further, within this module global organizational support (including global formatting of names and address, compensation in local currencies, time zone support, localized regulatory compliance, and translations) is housed; as is functionality that includes: single global person record; segmented data validation to support lines of business or geography; basic position management; absence management; new hire monitoring; automated roles provisioning; and role based dashboards with embedded analytics.
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