According to isolved’s third annual HR Leaders report, 91 percent of HR decision makers plan to invest in some form of HR technology this year. From benefits enrollment and scheduling to analytics to learning management, organizations look to technology to help boost their employee experience and get a competitive edge.

For those that are tightly monitoring their bottom line, there has never been a better time to explore these solutions. The number of providers in the human capital management (HCM) space has resulted in competitive pricing.

Vetting Providers

When evaluating HCM platforms, organizations must identify the one that best addresses their needs while delivering the greatest return on their investment. In an independent study commissioned by isolved, analyst firm Nucleus Research found that isolved People Cloud delivers a 201% ROI over a three-year period and pays for itself in 7.2 months.

To make this determination, Nucleus conducted in-depth customer assessments to understand their businesses, their challenges, and the impact of being an isolved customer. They also performed a full technology review and followed the National Association of State Boards of Accountancy-approved ROI methodology which conforms to industry best practices for independent ROI studies.

isolved Delivers on Its Promises

In addition to a high ROI and low payback period, Nucleus found that isolved customers experience a range of benefits across several different areas including payroll, onboarding and HR management by deploying People Cloud and utilizing HR Services. Here are some of the top findings according to Nucleus:

Lower Maintenance Costs – Customers switching to isolved experience a four-25 percent reduction in annual subscription and maintenance fees. In short, it’s cheaper to maintain People Cloud.

Improved Onboarding – By digitizing the process, isolved customers reduce new hire onboarding by 50-75 percent, thus reducing employee time-to-value.

Enhanced Payroll Productivity – isolved customers experience a 70-88 percent reduction in payroll administration, a result of streamlined processing and strong customer support.

Simplified Scheduling – With automation through People Cloud, workforce scheduling is easier to manage. In fact, HR departments experience a 90 percent reduction in scheduling time.

Better Benefits Administration – Open enrollment is time-consuming, yet benefits are key to employee retention. isolved customers experience time savings of 25-50 percent through a more efficient, paperless process.

More Sustainable Business Practices – isolved reduces the day-to-day workload, allowing HR to focus on more productive areas. isolved empowers HR teams to manage growth of operations without having to scale up associated labor costs.

Click here to access the full report: ROI Guidebook isolved People Cloud.

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