Tag Archives: PayStream Advisors Report

Keeping Organizations Together: The CFO’s Guide to Human Resource Management

PayStream Advisors has found an interesting development concerning the HRM and payroll processes of today’s businesses—one that proves our recent research release, The CFO’s Guide to Human Resource Management Solutions, could not have come at a better time. In the report, research shows that the role of the CFO is increasing in the areas of HR and payroll, as is the use of analytics to drive human resource success. This is due to the difficulties that publisherlogo.ncp uncoordinated data from HR and payroll activities create for organizations, causing those companies’ leaders to look for ways to increase inter-process connectivity and streamline the management of business information.

This new report is perfect for CFOs and HRM, payroll, and finance professionals looking for ways to fix data problems. It offers a revealing exploration of the ways in which HRM solutions can synchronize critical business data to drive success in organizational growth, performance, and profitability. The main finding of PayStream’s research has shown that the most valuable aspect of HRM solutions is the visibility they bring, empowering organizations to make better informed decisions.

Despite the benefits of HRM solutions, results in the report from a survey conducted on HR and finance professionals show that outdated HR and payroll solutions are still being used by more than half of small and medium sized businesses. These systems often spread vital information between a wide array of people and departments without a streamlined process, increasing the risk of poor and lost data and compromising compliance measures. Not only that, organizational communication is weakened by the time spent in an un-streamlined procedure. Even an efficiently managed HR department can be damaged by a manual, antiquated, and delayed data process.

HRM PayStream’s report reveals the power of HRM solutions to transform this inefficient process. Through real-time access to integrated workforce and business data, HRM solutions drive critical processes, and they deliver elemental business insight using complete transparency. The use of HRM solutions also enables information-rich, real-time reporting that helps CFO’s and HR managers make educated and effective decisions. The report also shows that in addition to consistency and accuracy, organizations need adept HRM techniques to properly handle their most important resource: employees. A company’s workforce drives growth and performance, and business success is linked to employees’ unique skills and talents. However, people—and total compensation costs—are difficult to predict, and having real-time access to important business metrics greatly increases a company’s ability to set realistic goals and measure results for their staff.

PayStream Advisors uses this research report to explore how HRM and payroll solutions meet the requirements of data visibility and workforce efficiency management to create a safe and effective process. The report shows how the software supports automation and integration, enables business success through analytics, focuses on accuracy and compliance, and ultimately improves business performance. PayStream analysts highlight the benefits of HRM and Payroll solutions features and functionalities, and they also provide in-depth profiles on several leading HRM solution providers in the market today.

Download a free copy of the CFO’s Guide to Human Resource Management Solutions here.

2014 Budgeting and Forecasting Report: Manage Performance, Manage Success

PayStream Advisors is pleased to announce the beginning of a brand new body of research in our newest release, the 2014 Budgeting and Forecasting Report. This report is the first of its kind, but one we believe is essential for our readers as Business Performance Management (BPM) solutions grow in the market. In the report, PayStream Advisors investigates the increased use of BPM systems resulting from companies’ dissatisfaction with current management methods, exploring market trends, BPM best practices, and solution providers’ BPM offerings.

PayStream research analysts have found that companies will usually install BPM solutions to replace the antiquated use of spreadsheets and improve management reporting. Data can become inaccurate and delayed though clogged and extensive workflow processes, and these inefficiencies make it difficult for organizations to get a comprehensive picture of finances and projections in real time. BPM solutions allow an integrated system that can upgrade and aggregate financial measures, enabling finance professionals to see operational results and projections company-wide. This relieves the burden of data collection, saving time and labor, and by producing more accurate and timely data, BPM solutions create more competitive business results.

In the report, PayStream conducted a survey of 300+ financial professionals from primarily mid-market companies. The results show that the use of BPM solutions is becoming commonplace among organizations, and that they are taking their place as a key component in business process management. This influx of BPM users is largely driven by the solutions’ success and the advantages they bring over outdated reporting methods. Survey results show that BPM users are much more satisfied with their budgeting methods than most companies using primarily spreadsheets. BPM users mainly choose to use a solution after recognizing its’ ability to bring improved decision making and execution, and more enhanced and agile planning techniques.

While BPM solutions are effective, choosing the correct vendor can be challenging, and with over 100 providers in the performance management solutions market, companies should have a thoughtful plan to select the right one. This report highlights the major capabilities and features offered in today’s BPM solutions. Our analysts also outline how to construct the best vendor selection plans in order to choose the perfect match for their organization, considering the pros and cons of various solution set-ups and showing what an organization should look for and expect when implementing management software. Included in the report are detailed profiles of two market leaders in BPM solutions, illustrating the features that set them apart in performance management techniques.

The importance and effectiveness of business performance management is one that is becoming more and more prevalent, and PayStream Advisors believes our readers should stay ahead of the curve for BPM implementation. The 2014 Budgeting and Forecasting Report will lead finance professionals through the process of choosing a BPM solution that will turn complicated and wide-spread data collection into one streamlined and comprehensive system. Download the free report here.

PayStream’s Newest Report: AP & Working Capital

PayStream Advisor’s most recent research release, the 2014 Accounts Payable (AP) and Working Capital Report, is one that shouldn’t be missed, especially by business professionals and executives. Why? This report explores the possibilities of something many companies feel they will never see—revenues from early payments. These revenues, gained from early payment discounts, are often unobtainable due to AP departments’ inability to process and approve invoices quickly. However, this report sets out to show that there are alternatives to missed discounts, and that utilizing the right accounts payable practices should be not only an AP, IT, and operations issue, but a strategic priority for treasurers and CFOs.

The report shows that Dynamic Discount Management (DDM) solutions allow annual returns as high as 36% on available cash. DDM gives buyers and suppliers the ability to propose changeable discounts terms through a sliding scale discount (SSD) that decreases the discount with time, creating incentives to pay quickly. While collaborative automation solutions play a large role in paying invoices early, the funds that enable a SSD come from the buyers’ working capital. The report shows many companies don’t feel that they have enough access to this capital, or that the risk involved is too high to be worth the discount, but increased interest from 3rd-party financers has made this a viable and low-risk option.

In the past, suppliers were often the only ones offering discounts, and due to the low response from buyers, these could be fruitless efforts. However, DDM solutions have the ability to pick buyers up off the side-lines of discount capture and turn them into proactive members in the P2P process, offering and setting discount terms themselves, and collaborating with their suppliers to the benefit of both parties. Current DDM adoption is climbing at a 63 percent annual growth rate among companies, and though there is fear of low supplier adoption to DDM solutions, supplier onboarding techniques like free self-service supplier portals are reducing this concern.

The report shows another barrier keeping companies from utilizing their Dynamic Discount capabilities is the doubt of high ROI. However, tools like electronic payments and PayStream’s Perfect Payment Index (PPI) enable buyers to take full advantage of early payments. Electronic payments speed up the process, reduce processing costs, and help prevent fraud. The PPI tool show companies how they can utilize DDM and electronic payments to make the perfect payment—one that is paid on time, uses the cheapest payment method, and achieves the highest possible discount.

PayStream’s 2014 Accounts Payable and Working Capital Report details how companies can utilize tools like the PPI to gain all the possibilities of discount capture. The report also analyzes current market trends and advancements being made in DDM solutions, and included in the report are several detailed profiles of the market’s leading providers of AP automation and DDM solutions. In order to learn how to use their working capital to produce revenues, growth, and success for their companies, PayStream Advisors strongly urges AP and business professionals of all levels to download their free copy of the AP & Working Capital Report today.

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