What Is Oracle Fusion HCM
What Is Oracle Fusion HCM
Oracle Fusion HCM is a revolutionary step in human capital management. Oracle Fusion HCM redefines the business of HR to provide value to every person in the organization. Here HCM stands for Human Capital Management. Oracle Fusion was built as a combination of features and functionalities taken from other ERP’s which includes Oracle EBS, JD Edwards, PeopleSoft, and Siebel. HCM is part of Oracle Fusion which deals with HR software industry. Fusion HCM is a cloud application which is hosted by Oracle. It provides industries to deploy their HR system with ease on their cloud-based application. Fusion HCM provides various deployment options so that customer can choose their delivery mechanism according to their needs. Fusion HCM has various integrated modules for different strategic needs of customers. Fusion HCM is commonly termed as Cloud HCM and is a complete set of HR products thereby providing the functionalities that benefit the business.
Fusion HCM comprises various modules which are listed below
1) Core HR
5) Talent Management
6) Time & Labor
7) Absence Management
8) Succession Planning
Oracle provides various functionalities for implementing these modules which are easy to use and covers all the aspects of business needs. Oracle is a one-stop solution when it comes to industry related products. Effective Management is the key to success for any business and Oracle has provided this for many years. Human Capital is also important for industries in order to manage their HR system. An industry needs HR solutions for managing their employees and their related data. Acquiring, managing, and retaining human capital is a task which is not only a complex need but is something which needs expertise and accuracy. Oracle is the leader in industry products and one can rely on its trust and experience which it is delivering for many years.
By now we know how important it is for any industry to effectively manage their HR solutions. Fusion HCM comes with many inbuilt functionalities which can leverage industry needs. Fusion HCM or Cloud HCM makes use of various inbuilt tools to effectively deliver HCM needs.
If we talk about technical tools which come ready with Fusion HCM then we have to shift our focus to some technical details which we will be covering in our future posts. For now, we can see that what are the technical tools that are available with this cloud application.
1) HCM Data Loader – Used for bulk loading of data from any data source
2) HCM Extracts – Used for generating various reports and data files
3) BI – Mainly used for reporting. Here BI stands for Business Intelligence
4) Fast Formulas – Fast Formulas are some simple custom-made rules which will enhance the existing functionality of the product
We will talk about these tools in our future posts but so far we have seen that how Fusion HCM can help us in implementing HR solutions effectively. If you are working on this cloud-based product or you are going to start with it, then this website can help you with some information about understanding the product and its functionality.