Oracle Cloud HCM

Last updated
Oracle Cloud HCM
Developer(s) Oracle Corporation
Initial releaseOctober 2011 [1]
Stable release
21D / October 2021
Type Human capital management software, Human resources management, Payroll
License Proprietary
Website https://www.oracle.com/human-capital-management/

Oracle Cloud Human Capital Management (Oracle Cloud HCM) is a cloud-based HCM software application suite for global HR, talent, and workforce management released by Oracle Corporation in 2011. [1]

Contents

History

Oracle Cloud HCM is a full-stack suite of native cloud-based applications for recruiting and talent workforce management. [2] [3] The SaaS offering [4] is designed to provide support in one platform for employees and organizations during an employee's entire career, from hiring to career development to retiring. [2] [5] It can be accessed on and used across multiple devices, [2] [5] and was released as a module of Oracle Fusion applications in October 2011. [1] Oracle developed Fusion infrastructure to support its cloud HCM (Human Capital Management) application, as well as its CRM (Customer Relationship Management); Financials; Governance, Risk, and Compliance; Procurement; Project Portfolio Management; and SCM (Supply Chain Management) cloud applications. [6]

In December 2004, Oracle acquired PeopleSoft. [7] Oracle integrated intellectual property and knowledge of HR from PeopleSoft into HCM Cloud. [8]

In February 2012, Oracle acquired Taleo Corporation, integrating Taleo's Talent Management Cloud into Oracle's human resources management system (HRMS) application product. [9]

In February 2014, Oracle released HCM Cloud 8, which made changes to social sourcing, time and attendance, workforce modeling, performance management, and succession planning components. [10]

By 2015, Oracle's core HRMS and payroll ran completely on the cloud, and the company was building new Cloud HCM apps on mobile first to support an integrated mobile experience. [8] These included life/work apps for employee wellness management, reputation management, and competitions. [8]

In January 2018, Office Depot started using Oracle HCM as its HR/talent management platform. [11] In October of that year, Oracle added third-party tie-ins for LinkedIn Talent Solutions and My Brand tools to HCM Cloud. [3]

In 2019, HCM Cloud was chosen by the U.S. Department of Defense as part of its HR system. [12]

In 2021, Oracle upgraded the platform to use low-code/no-code tools. [13] It also introduced its Dynamic Skills platform capability which uses AI to catalog skills and suggest ways that employees and businesses as a whole can leverage skills. [2]

Talent and workforce management

Companies can use Cloud HCM workforce modeling and prediction tools to predict possible hiring and reorganization needs. There are: a benefits portal that allows employees to sign up for their own benefits, a talent management tool that supports talent acquisition (recruiting) and retention, and learning modules that allow individuals to create and share different classes. [14] Cloud HCM also offers LinkedIn Talent Solutions tie-ins and My Brand tools to support employee collaboration and help employees find career development opportunities. [3]

In 2021, Oracle released a tool called Oracle Dynamic Skills to help companies manage employee skills and identify skill gaps. [2] The set of tools is made up of three major components: Skills Nexus, which uses AI to define and store skills profiles; Skills Advisor, a recommendation engine for skills across the talent business process that uses data about the employee and/or candidate; and Skills Center, a portal for employees to identify their skills and explore career growth opportunities. [2]

Human resources (HR)

The Oracle Human Resources module within Oracle HCM includes some of the following capabilities: [14] [13] [15] [16]

HR administrators can restrict users' access to information based on their location; use configurable, rule-based action lists to manage policies for represented workers; and use LinkedIn Recruiter integrations to automate sourcing, candidate search, and referral recommendations. [3] Cloud HCM also provides a smart employee sourcing tool that calculates factors such as likelihood to accept, performance predictions, and expected tenure. [3]

The HCM application is built to connect to a company's revenue and financial databases, working from the belief that employees are financially important and that financial and HR leadership may need to work together on long-term plans. [18] With HCM, executives have access to total compensation metrics, can control compensation, and can design compensation plans. [14]

In 2020, updates to the platform included Anytime Pay, which allows employees to request early pay, in addition to other payroll capabilities, and Opportunity Marketplace to help companies fill short-term needs. [19]

See also

Related Research Articles

<span class="mw-page-title-main">Oracle Corporation</span> American multinational computer corporation

Oracle Corporation is an American multinational computer technology company headquartered in Austin, Texas. In 2020, Oracle was the third-largest software company in the world by revenue and market capitalization. In 2023, the company’s seat in Forbes Global 2000 was 80. The company sells database software and cloud computing. Oracle's core application software is a suite of enterprise software products, such as enterprise resource planning (ERP) software, human capital management (HCM) software, customer relationship management (CRM) software, enterprise performance management (EPM) software, Customer Experience Commerce and supply chain management (SCM) software.

Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpower, labor, labor-power, or personnel.

PeopleSoft, Inc. is a company that provides human resource management systems (HRMS), financial management solutions (FMS), supply chain management (SCM), customer relationship management (CRM), and enterprise performance management (EPM) software, as well as software for manufacturing, and student administration to large corporations, governments, and organizations. It existed as an independent corporation until its acquisition by Oracle Corporation in 2005. The PeopleSoft name and product line are now marketed by Oracle.

Staffing is the process of finding the right worker with appropriate qualifications or experience and recruiting them to fill a job position or role. Through this process, organizations acquire, deploy, and retain a workforce of sufficient quantity and quality to create positive impacts on the organization's effectiveness. In management, staffing is an operation of recruiting the employees by evaluating their skills and knowledge before offering them specific job roles accordingly.

Human resource management is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and employee benefits systems. HR also concerns itself with organizational change and industrial relations, or the balancing of organizational practices with requirements arising from collective bargaining and governmental laws.

<span class="mw-page-title-main">Ramco Systems</span> Indian IT Services company

Ramco Systems Limited is an Indian multinational enterprise software product & platform provider. Ramco Systems uses various technologies including ChatBot, AI, Facial Recognition, Voice-enabled navigation, Mobility and Cloud Computing in their products which include Global Payroll, Time and Attendance, Contract Workforce Management, Finance & Accounting, Asset Management, Transport Management and Warehouse Management. Founded in 1997, it is a part of the Ramco Group, and is headquartered in Chennai, Tamil Nadu, India, Ramco Systems operates in 30 locations across 35 countries. Ramco Systems’ sister company, Ramco Cements, is the fifth largest cement producer in India.

<span class="mw-page-title-main">Dayforce</span> American technology company

Dayforce, Inc., formerly Ceridian, is a provider of human resources software and services with employees across its global footprint in the United States, Canada, Europe, Middle East, Africa (EMEA), and the Asia Pacific Japan (APJ) region. It is a publicly traded company on the New York Stock Exchange and Toronto Stock Exchange.

Oracle Applications comprise the applications software or business software of the Oracle Corporation both in the cloud and on-premises. The term refers to the non-database and non-middleware parts. The suite of applications includes enterprise resource planning, enterprise performance management, supply chain & manufacturing, human capital management, and advertising and customer experience.

Workforce management (WFM) is an institutional process that maximizes performance levels and competency for an organization. The process includes all the activities needed to maintain a productive workforce, such as field service management, human resource management, performance and training management, data collection, recruiting, budgeting, forecasting, scheduling and analytics.

<span class="mw-page-title-main">Workday, Inc.</span> American software company

Workday, Inc., is an American on‑demand (cloud-based) financial management, human capital management, and student information system software vendor. Workday was founded by David Duffield, founder and former CEO of ERP company PeopleSoft, along with former PeopleSoft chief strategist Aneel Bhusri, following Oracle's acquisition of PeopleSoft in 2005.

<span class="mw-page-title-main">NetSuite</span> Technology company

NetSuite Inc. is an American cloud-based enterprise software company that provides products and services tailored for small and medium-sized businesses (SMBs) including accounting and financial management, customer relationship management, inventory management, human capital management, payroll, procurement, project management and e-commerce software. NetSuite was founded in 1998 with headquarters in Austin, Texas. The company is widely seen as the first cloud computing software company, with its founding pre-dating that of Salesforce by about a month.

A talent management system (TMS) is an integrated software suite that addresses the "four pillars" of talent management: recruitment; performance management; learning and development; and compensation management.

E-HRM is the planning, implementation and application of information technology for both networking and supporting at least two individual or collective actors in their shared performing of HR activities.

<span class="mw-page-title-main">SAP SuccessFactors</span> Software product

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<span class="mw-page-title-main">Ultimate Software</span> Former American multinational technology company

Ultimate Software was an American multinational technology company that developed and sold UltiPro, a cloud-based human capital management (HCM) software system for businesses. Headquartered in Weston, Florida, the company was founded in 1990 by Scott Scherr, and it released its first version of software in 1993. As of the fourth quarter in 2017, Ultimate Software reported total revenues of over $940.7 million. As of 2017, the company employs more than 5,000 people and services 4,100 customers in 160 countries. Ultimate had offices around the U.S., Canada, UK, and Singapore. On February 4, 2019, Hellman & Friedman Capital Partners announced it would purchase Ultimate Software Group for $11 billion; the purchase closed on May 3, 2019.

<span class="mw-page-title-main">Kenexa</span> American employment services company

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<span class="mw-page-title-main">Taleo</span> Software company

Taleo Corporation was a publicly traded database vendor based in Dublin, California, which was acquired by Oracle in 2012. Taleo's product offerings primarily focus on talent acquisition (recruitment), performance management, learning and development, and compensation management. These capabilities combine to provide what Taleo calls "Talent Intelligence" — an enhanced level of insight into candidates and employees. Taleo sells its Human resource management system products entirely via a software-as-a-service (SaaS) model, in which all software and information resides in data centers operated and secured by Taleo.

A human resources management system (HRMS) or Human Resources Information System (HRIS) or Human Capital Management (HCM) is a form of Human Resources (HR) software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data. Human resources software is used by businesses to combine a number of necessary HR functions, such as storing employee data, managing payroll, recruitment, benefits administration, time and attendance, employee performance management, and tracking competency and training records.

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References

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  2. 1 2 3 4 5 6 Condon, Stephanie. "Oracle wants to help you catalog your employees' skills". ZDNet. Retrieved 2022-03-28.
  3. 1 2 3 4 5 "Oracle debuts Subscription Management and CX Unity, updates to HCM Cloud and Data Cloud". VentureBeat. 2018-10-22. Retrieved 2019-01-15.
  4. ↑ "Après avoir été freiné par la pandémie, le marché du SaaS devrait croitre de 21% en 2021". ChannelNews (in French). 2021-09-28. Retrieved 2022-03-28.
  5. 1 2 Condon, Stephanie. "Oracle updates cloud applications as SaaS sales builds momentum". ZDNet. Retrieved 2022-03-28.
  6. ↑ "The evolution of Oracle Fusion Cloud Services". SearchOracle. Retrieved 2019-01-15.
  7. ↑ Lohr, Steve; Flynn, Laurie J. (2004-12-14). "Oracle to Acquire PeopleSoft for $10.3 Billion, Ending Bitter Fight". The New York Times. ISSN   0362-4331 . Retrieved 2019-01-15.
  8. 1 2 3 Bersin, Josh. "Oracle Gains Momentum in the HR Software Market - A Story of Patience and Focus". Forbes. Retrieved 2019-01-15.
  9. ↑ "Oracle Moves Solidly Into SaaS With Taleo Acquisition". Forrester. 2012-02-09. Retrieved 2019-01-15.
  10. ↑ "Product of the month: Oracle HCM Cloud 8". SearchHRSoftware. Retrieved 2019-01-15.
  11. ↑ "Office Depot deploying Oracle HCM". Employee Benefit News. 2018-01-31. Retrieved 2022-03-28.
  12. ↑ "Oracle HCM Cloud to transform US DoD's HR operations". Army Technology. 2019-11-18. Retrieved 2022-03-28.
  13. 1 2 "Oracle Cloud HCM introduces low-code/no-code template tools". SearchHRSoftware. Retrieved 2022-03-28.
  14. 1 2 3 "Oracle Adds Tools to Strengthen Data Use in Fusion Cloud HCM". HCM Technology Report. 2021-11-04. Retrieved 2022-03-28.
  15. ↑ "How an HR help desk supports an HCM rollout". SearchHRSoftware. Retrieved 2022-03-28.
  16. ↑ "Oracle HCM Adds Features, Focuses on Usability". HCM Technology Report. 2019-03-19. Retrieved 2022-03-28.
  17. ↑ "Oracle Human Resources".
  18. ↑ Baranouski, Artsiom (2024-04-13). "Building HRM Systems: A Canadian Guide to HR Tools in 2024". Medium. Retrieved 2024-04-13.
  19. ↑ "Oracle HCM Cloud gets on-demand pay, internal talent market". SearchHRSoftware. Retrieved 2022-03-28.
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