Dave Dawson, CEOThe workforce technology market is converging, enabling the adoption of new comprehensive systems that minimize business impediments and improve employers’ ability to remain compliant in the evolving regulatory environment.
Human Resources (HR) being the core component of every organizational structure demands special attention, driving firms to identify ways to boost employee engagement and retention by building a meaningful culture. “We believe payroll, benefits administration, time tracking and HR functionalities are the four pillars of human capital management (HCM) that help bolster employee engagement and overall productivity,” says Dave Dawson, CEO, iSolved HCM.
However, challenges such as changing regulatory policies, as well as the data complexities, are restricting solution implementation goals of companies, thus creating a sense of urgency to mitigate data convergence issues. “Regulations like the Affordable Care Act have created an environment where enterprises are looking for additional solutions to be compliant. We provide highly flexible and configurable SaaS-based solutions creating the integrated functions of time, payroll and benefits,” expresses Dawson.
Launched in 2013, iSolved is a major technology platform in the HR arena that delivers a best-of-breed solution to manage a modern workforce. Today, iSolved HCM caters to a vast number of renowned organizations with its technology solutions—iSolved and the iSolved Go mobile app. For instance, XOOM Energy, a company that supplies natural gas and renewable energy services, was using a HCM platform that was incapable of providing employee access for submitting personnel changes. The company was also planning to hire about 10 new employees each month. With the increasing number of hires, it was essential for the customer to ensure the onboarding process would run smoothly and efficiently. “The continuously changing regulatory system makes the tasks of hiring and managing employees a cumbersome job,” says Dawson.
After deploying iSolved, the energy firm was able to tackle the compliance-related challenges and hire new employees more efficiently. Further, the client’s HR department was able to save significant amount of time in handling vacation and sick leave taken by employees and did not have to shuffle and file paper documents.
The Valuable Asset—Employee
iSolved was built to transform the way businesses manage their most important asset–people. iSolved provides the vital data that companies need to make business decisions and drive employee engagement, productivity and efficiencies. The cutting-edge HCM technology is designed specifically for the needs of small-to-mid-sized businesses. The payroll processing technology used in iSolved manages deductions, tax filing and calculation, and pay record management.
One of iSolved’s native functions includes Benefits Enrollment, which helps simplify the complex task of getting employees enrolled in the company’s benefit plans. The enrollment functionality increases employee engagement and includes wizards and reports to eliminate mistakes that occur during open enrollment periods. In addition, iSolved ensures the employees have the necessary information to properly and efficiently make their benefit plan selections from the myriad of options the employer might be providing.
iSolved’s native time and attendance functionality allows employers to track and monitor overtime, shift differentials, meals and breaks, tardiness, and other time policies for complete time tracking.
Available anywhere, anytime, iSolved HCM provides the vital data that companies need to make business decisions, drive employee engagement, productivity, and efficiencies
“The solution has proprietary time-clock hardware that delivers a number of options such as proximity or biometric verification. Or, employers can choose to use our mobile app to clock in or out,” says Dawson.
Furthermore, the core HR functionality of iSolved offers tools for compensation, performance management and employee engagement. These tools help organizations to onboard new employees and also create and increase access to data that employees need on a regular basis, such as schedules, pay stubs, W2s and more. Allowing employees to self-serve saves the HR and payroll staffs valuable time by minimizing the dozens of mundane information and/ or change requests that generally flow through those departments.
Decoding the Strength of HCM in the Cloud
With more employees working remotely and on the go, employers are seeking flexible solutions to ensure they provide correct pay for the time worked–wherever that work occurs. iSolved, whether through self-service or the iSolved Go mobile app, provides this capability. This improves data accuracy and takes the guesswork out of handwritten time sheets.
The Reliable Partner Network
iSolved is delivered through a network of high-performing Certified Network Partners. “These partners are companies that use our iSolved platform to service their customers,” explains Dawson. “The partners allow iSolved to be adopted by a large segment of the market, faster than other business models, while also allowing customers to receive white glove service they demand.”
HCM Generates Positive Outcomes
Further, the HCM solution helps companies to achieve desired business outcomes. For example, a leading financial services company in the mid-Atlantic was carrying out all of its HR operations and people-related functions across a number of standalone solutions. The solutions didn’t scale well with their growing employment base. The client needed to scale their systems and make sure they worked cohesively while keeping a check on cost. Upon selecting iSolved to solve those issues, the company was able to integrate these functions into a single system and witnessed significant cost reduction.
In the days to come, iSolved plans to expand its geographic footprint through additional Certified Network Partners and enhance its offerings with additional capabilities. “We are aiming to add travel and expense functionality to our existing platform that would help our clients to better interact, engage and manage employees,” concludes Dawson.