Innovative Methods Consulting

How Can Oracle HCM Cloud Transform Your Employee Benefits?

With the support of specialists in Oracle HCM Cloud solutions, Innovative Methods Consulting will help you with the implementation and improvement of your employee benefits system and let your organization respond fast to changes in the business environment.

This blog post highlights a services overview for the Oracle Hcm Cloud Technology as a solution, using Oracle’s standard methodology for this type of initiatives. This methodology allows for rapid enablement of HCM Cloud Benefits.

How Can Oracle HCM Cloud Technology Benefit Your Organization?

Oracle Fusion is a global flexible, configurable product that enables organizations and their HR professionals to evolve and adapt to the unique needs of their workforce. It is an integral part of any employee compensation package.

Oracle HCM Cloud Analytics and support services – under the Oracle HCM Cloud Technology – offers traditional “one-size-fits-all” plans that enable users to target different segments of the workforce with a variety of benefit packages. The system has an intuitive process that guides employees through selecting their benefits while enabling them to review and update their contacts as part of the guided enrollment process and select dependents and/or beneficiaries at the end of the enrollment process.

Core Advantages of Oracle HCM Cloud Technology

The Oracle HCM Cloud Technology will enable your organization to:

  • Extend benefits to your workforce in addition to compensation.
  • Automate the management of corporate policies, whether related to eligibility, enrollment, rates, or coverage.
  • Define the plan design and benefits program.
  • Conduct clear and life event-based enrollments for participants, batch processing, and reporting.
  • Enable self-service enrollment for participants.
  • Manage ongoing participant enrollment changes, dependent designations, beneficiary designations, certifications, and action items.
  • Administer annual open enrollment.

In addition, the Oracle HCM support services let the user to build a rules-based application where configuration objects can be reused across different legislations.

The Oracle HCM Cloud Technology solution is applicable across all industries; there are no “industry-specific” variations.

The cloud product referenced in the HCM Cloud Technology solution set must be properly provisioned prior to delivery of this solution:

  • Oracle Human Capital Management Cloud Service
  • Oracle Integration Cloud Service (optional)

Key Services of Innovative Methods Consulting

Implementation

We use Sprint-2-Success (S2S) methodology -a goal-oriented, agile approach that emphasizes rapid, iterative progress through short, focused “sprints”. This enables us to focus on a streamlined approach so we can implement and get you from Requirements to Solution Design to Deployment efficiently. All we do this by keeping your budget in the mind, enabling you to meet your strategic and financial goals.

Health Check 2.0

If you’re facing issues in your current solution, and you’re left wondering how to make them go away, we help you by taking 3-step Health Check approach. We first assess and identify the pain points in your existing system. Second, we develop an understanding about the origins of the problems. Lastly, we build a roadmap while providing proven solutions to address the identified issues.

Project Rescue

If your project is floundering and you’re wondering how to resume the progress, we leverage our well-established 3-step health check approach. this way, we develop a plan that involves the utilization of our Sprint-2-Success methodology, enabling us to successfully move your project forward.

Managed Support

Maybe you don’t have the time to actively pursue your Oracle Service Requests or troubleshoot some of your more challenging issues. If so, you may be overwhelmed with your system administration tasks. However, Oracle HCM support services work best and is the perfect solution for what you need.

Tools Used by Innovative Methods Consulting

Data Conversion Tool

At IMC, we minimize conversion errors using Data Conversion tool. With this tool, we validate data before loading. However, we also ensure that what you approved for loading is what was loaded through a post-conversion validation process. You just need to give us the data, and then, we ensure that your loads are clean so accomplishment of the validation becomes a breeze.

Payroll Reconciliation Tool

The Parallel processing stage is an important part of any payroll implementation, irrespective of the system being implemented. We use a payroll reconciliation tool to ensure that the results of various payroll runs are validated quickly and accurately.

Balance Initialization Tool

We use balance initialization tool to set up balances from legacy systems in case if you implement the payroll system in the mid of the year. By approaching us, you can find a solution which takes the balance initialization file provided by the customer and creates all of the tax related balances needed by Oracle automatically. This way, you can efficiently complete the balance conversion process without putting a lot of manual effort, avoiding errors, and investing time for testing.

Benefits Extraction Tool

We use the Benefits Extraction Tool to let the administrator to extract enrollment records while producing a pre-formatted generic HR-XML standards file. This way, you can manage your Benefits programs very well, along with Rates and coverage and self-service enrollment.

Data Loading

The data loads will be executed as part of the Oracle HCM Cloud solution set. Standard execution will occur based on the available file-based data loaders (data imports). Data uploads, for the benefits process, are usually not required because the required data is expected to be available as part of the core HR solution suite.

Final Remarks

Innovative Methods Consulting – one of the Top Oracle Consulting Companies in Rockville, Maryland – encourages you to review the core features of your implementation with our expert as cloud adoption services are an integral part of the approach to services delivered. Not only this, it also helps develop a cloud adoption strategy, which encompasses a communication strategy, a training strategy, and a user support strategy. A Business Impact Analysis will be the basis for defining these strategies. Oracle HCM Cloud Technology, including Oracle HCM Cloud analytics and Oracle HCM support services, enables your organization to adapt to the changes that will be generated by the implementation of this solution suite. The focus at all times is for the customer to obtain optimal benefit from the application by using it as intended and by enabling users to successfully adopt the solution.

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