Financial Technology

Financial Technology

October 16, 2013

Epicor Software Releases New Version of Human Capital Management Solution

Epicor Software (News - Alert) recently announced the availability of the latest release of its human capital management (HCM) solution, Epicor HCM version 5.8.

Touted as a complete human resource information system (HRS), Epicor HCM comes with features to track, manage and analyze HR data throughout the entire employee lifecycle.

Lisa Rickard, senior product marketing manager for human capital management solutions at Epicor, said that HCM is a “key driver” to finding and retaining employees.

In addition to providing visibility across the global workforce, HCM also meets regulatory employee and workforce reporting requirements, Rickard said.

The new version of Epicor’s HCM provides the benefit of expanded country-specific functionality for Australia/New Zealand (ANZ) and the U.K. Also, it is now equipped with new enhancements for goal measurement and reporting.

Company officials said that the primary ANZ country-specific functionality profile offers health and safety checklists, including reporting. The government-specific checks, “police clearance” and “working with children”, are expected to increase safety at the workplace. This functionality profile also offers qualifying periods as part of the Workplace Relations (WR) Act.

The “tracking of notice” periods and “working time directive” are U.K. offices and key country-specific functions. With the tracking of notice periods option, it is easier to define the length of time that employers and employees must provide with a notice of termination, according to company officials.

The working time directive enables member states to permit individual workers to opt-out of the 48-hour weekly limit on their working hours.

For any business to run successfully, it is important that its employees are performing at their optimal level. Businesses need a reliable system that enables them to evaluate the performance of the employees, effectively.

Claire Schooley, principal analyst at Forrester Research (News - Alert), notes that companies should create an HR strategy that links to the business strategy. “Everything HR does must tie directly back to the overall business strategy and the HRM strategy must help the organization meet its mission, vision, and goals.”

Epicor HCM, version 5.8, now comes with new tasks, with fields that enable businesses to align goals with corporate objectives. Company officials said that this will enhance the employee measurement process.

According to company officials, the new fields represent a determined number of units that must be complete for the goal to be considered 100 percent achieved in the system.

“With our newest release of Epicor HCM, the company empowers customers to expand globally -- crossing borders with deployment and business operations -- and to compete effectively in the marketplace with unprecedented measurement capabilities that align the workforce with organizational goals and objectives,” Rickard said.

This year in July, Radwell International selected the Epicor Prophet 21 enterprise resource planning (ERP) solution to increase business efficiency and streamline processes for overall performance.

Edited by Rory J. Thompson

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