It’s no secret that businesses around the world are adopting cloud at a rapid rate. The Covid-19 pandemic has accelerated global cloud adoption in industries ranging from financial services and retail to healthcare and education.
And this trend is expected to continue over the coming years. The global cloud computing market is predicted to grow from $445 billion in 2021 to $947 billion by 2026. In the UAE specifically, the likes of Oracle and Amazon have recently announced significant local investments, showing the rate of cloud adoption in the region.
The reasons behind this rate of adoption are simple: the cloud provides speed, productivity and cost-efficiency benefits that enable businesses to transform the way they operate and keep pace in today’s highly competitive markets. In the world of HR specifically, cloud platforms can empower businesses to supercharge their teams and reach a new level of efficiency.
There are three core pillars of HR in which the cloud can have a transformative effect. First, the core admin-heavy HR activities like processing leave requests, tracking attendance and onboarding new employees. These are all tasks that have traditionally been manual and spread across multiple different systems, providing a significant admin burden for HR teams.
However, by migrating to the cloud, businesses can centralize and streamline their HR operations. They can bring all of the key processes and actions together in one place and automate the most basic activities, enabling HR teams to reclaim valuable time while enhancing their ability to meet employees’ needs.
No more having to painstakingly search through hundreds of physical employee records. No more cumbersome manual processes. And no more being restricted by how, where and when they work. Instead, HR teams will be able to:
- Quickly and easily search for and access digital documents
- Dedicate more time towards people rather than process
- Work from anywhere without having to worry about security implications
Linked to this is insurance, which isn’t an easy area to manage. From controlling costs, to meeting employees’ evolving needs, there’s a huge amount for HR teams to think about. Businesses have to be able to provide an insurance package that satisfies employees’ expectations, which is where the cloud has a key role to play.
For example, cloud platforms provide access to real-time data insights. Armed with the valuable insights needed to adapt policies through the cloud, businesses will be empowered to proactively address employees’ needs – while saving themselves valuable time and money. They can see how employees are using the policy and replace or remove specific benefits based on behavioral trends.
The cloud also increases productivity. Processes such as renewals, submitting claims and adding users can all be automated – reducing the admin burden and saving HR teams a significant amount of time. It can even empower employees to quickly complete processes themselves without having to involve HR teams at all.
The final pillar is payroll. Payroll processes have long been characterized by mammoth Excel spreadsheets that have to be manually updated. Not only does this increase the risk of human error, it also involves a huge amount of wasted time that could be put to better use. Transitioning to the cloud can remove the pains and frustrations associated with Excel documents. Having all payroll records stored and accessible in the cloud means finance managers can manage pay records anytime, anywhere.
Processes such as expense calculations and payslip distribution can be automated, boosting productivity and freeing up resources that can be directly elsewhere. No more manual calculations, complicated spreadsheets or stressed finance teams – just fast, efficient and secure payroll processing available at the touch of a button.
Unleash the power
It’s clear that businesses can’t afford to ignore the value that cloud brings. From driving efficiency and productivity through process automation, to cutting costs and providing economies of scale, cloud platforms can have a transformative effect. Other key benefits include:
- Accuracy and compliance: software significantly reduces the risk of human error while making it easier for businesses to stay on top of regulations
- Integration: HR cloud software can be linked to other platforms, making it easier for businesses to grow and adapt as their needs change
- Security: data stored in the cloud is much more secure than physical formats, which can easily be stolen or lost
- Experience: cloud platforms can provide the working experience employees now demand, making them more likely to stay long term
- Innovation: cloud platforms are constantly being updated, which means users will stay at the forefront of technology
Clearly, businesses that fail to embrace the cloud will quickly fall behind their competitors (if they haven’t already). But how can they make sure they pick the right partner? The key is to look for a partner that’s forward-thinking, built on tech, and is customer obsessed.
This combination of characteristics will deliver a partner that’s focused on providing innovative solutions to business pain points, adept at guiding impactful transformation, and dedicated to supporting customers as they evolve. At the same time, the partner must possess deep local knowledge and expertise so that it understands the market’s cultural nuances.
That’s what will drive the most long-term value – empowering companies to continuously enhance their operational efficiency and transform the way they do business.
Get in touch to find out how we can help you leverage the cloud.