Home » ERP Software » Does a Single Vendor for HCM and Payroll Needs Make Sense?

Does a Single Vendor for HCM and Payroll Needs Make Sense?

vendor agreement

If it hasn’t been apparent over these last few weeks of posting, the benefits of combining your ERP software sales with an HCM solution include, raising your profit potential and becoming a technology expert among your clientele. As that information has already been planted into your brains numerous times found here and hereWe’d like to share one more important reason why matching your ERP sales with an HCM solution could be a boon for you and your bottom line. Offering a single vendor for HCM and payroll needs with your ERP solutions to your end-users could be a home run.

4 Reasons why a single vendor solution makes sense

Typically, as a company ages, their HCM software they bought and implemented will begin to need upgrades as time passes as well. The company will then look to “upgrade” their aging system by integrating additional software solutions to patch up the problem areas instead of investing in a single, cohesive solution. As this is a viable option for some, it’s not the most efficient. By adding more and more solutions to patch these problem areas, disadvantages such as data leaks, errors and double entry problems can occur when taking this approach with your declining software.

If you want to avoid those potential disadvantages, investing in a single vendor solution will be the best route to go. Here are the reasons why a single vendor HCM solution would be an enticing product to include in your toolbox with your ERP offerings.

1. Reducing costs for your end-users

A lot of decision-makers believe that overhauling their current system entirely would be just too expensive to do. So by going the route of implementing other vendors and their products to “patch up” the problem areas, the company will save time and money doing so. What they don’t realize is that a single vendor may, in fact, save them a lot of money. Most vendors offer bundle deals with their offerings that can be much more cost-effective than shopping for multiple vendors for various single solutions. Also, a company will have more negotiating power dealing with only one vendor compared to haggling with many.

2. Essential upgrades for end-users’ software is non-conflicting

What’s that saying about “Too many cooks in the kitchen?”

It’s simple. If you have multiple vendors demanding upgrades to their modules, it’s only a matter of time before they will begin to conflict with one another. If you have upgrade needs that may conflict with another vendor’s module, slowdowns and incompatibilities could become reality for those who utilize more than one vendor for their software needs. Having a single vendor will prevent any conflicting upgrades.

3. Efficiency will rise in other aspects of your end-users’ job

By having a single vendor solution, you will have only one point of contact if any issues or problems arise. Having multiple vendors will require you to have multiple contacts, emails, phone numbers, etc. A lot of lost time can be attributed to just figuring out who you have to contact when something with your software goes awry.

As mentioned earlier, a single vendor can eliminate pesky, time-consuming double data entry. This can hasten job functions such as:

  • Benefits enrollment
  • Deduction calculations
  • Other HCM and payroll capabilities

4. Simplifying the reporting process for end-users

Although you may have multiple integrations with other systems to your HCM solution, they may not be closely connected enough to provide you with the reporting a company may need to make better business decisions. With a single vendor solution, the need for data unification is eliminated which speeds up reporting capabilities while making it feasible to obtain data in real-time.

Why You Should Partner with InfinityHR for Your HCM Needs

InfinityHR has a reputable, future-proof HCM platform that stands out in a number of ways:

1. It integrates with well-known ERP names such as; Acumatica, Netsuite, Sage and more

2. It allows only authorized users to access sensitive worker information

3. It comes with top-notch support

4. It features an intuitive cloud-based interface

5. It updates modules and functionality all into one system, leaving client workflows uninterrupted

6. It saves end users money

InfinityHR, the flagship product at Infinity Software Solutions Inc., hits each of those points. Channel partners targeting SMBs and enterprises in almost every vertical–and particularly entities with 100-2,000 employees–will want to learn more about the platform. Here’s how InfinityHR stands out from the competition:

Unmatched Capability

Partners selling Acumatica, NetSuite, and Sage 100 and 300 have a built-in HCM choice in InfinityHR: the SaaS platform holds certified integration credentials to Acumatica and NetSuite. To that point, InfinityHR is the only HCM in the world to boast integration with Acumatica. Partners’ opportunities for ERPHCM sales will expand as InfinityHR continues to grow the list of integrations.

To download the full whitepaper on the perfect pairing of ERP and HCM, click here.

InfinityHR’s platform includes these modules—Applicant Tracking, Benefits Management, Employee Self-Service, Performance Management, Payroll, Reporting, Surveys, Time and Attendance, Time-Off Tracking, Workflow Management and EZSign (electronic signature)—schedule a demo today!

We will be at the Acumatica Summit 2018 from January 28th – February 2nd. Come visit us at booth #211, we can’t wait to see you!

vendor agreement

Request Your Online Demo Today

Learn More About InfinityHR's Automated HCM Solution

IHR home
^