SAP SuccessFactors Workforce Planning and SAP RealSpend – Bringing HR and Finance together
In 2015, HR and IT leaders from Boston Scientific got up on stage at SuccessConnect, SAP SuccessFactors’ annual user conference, to show how the partnership between their two organizations enabled getting maximum impact from their SuccessFactors solutions. Which got me thinking, couldn’t the same be true for HR and Finance? Think of the benefits both teams could realize should they join forces. Well now they can. SAP SuccessFactors announced a new offering with our SAP SuccessFactors Workforce Planning solution, where together with SAP RealSpend, customers can access financial data from directly within their operational headcount plan.
SAP RealSpend is a cloud finance application that provides visibility and access to up-to-the-minute budget and spending information. Based on SAP Cloud Platform, SAP RealSpend pulls data from core financial reporting systems, allowing line managers to perform ad hoc spend analysis and other “on-the-fly” calculations, enabling live business processing.
Improve accuracy and control
With access to more current and detailed financial data, including “hidden” expenses like workspace costs, and T&E, customers can better predict total workforce investments and avoid discrepancies between forecasts and actuals, increasing accuracy of headcount forecasts.
Since plans are based on the most current financial data, customers can model what future workforce investments may look like, and make adjustments in a timely manner to avoid having too much headcount, or not enough.
Better alignment with Finance
But most importantly, HR and Finance can now partner and plan for the workforce together. No longer will they work in siloes, with separate data, spreadsheets and plans. Both can be confident that their data is aligned as the information they’re leveraging is coming from the same data source. And partnering with each other can help ensure having the right people at the right place and time, at the right investment.
This new offering is another way in which SAP SuccessFactors Workforce Planning continues to further deliver on our purpose to help customers turn plans into action. And I’m hopeful that we’ll see leaders in HR and Finance get up on stage at SuccessConnect in the near future!
Check out other new features across our HCM solution suite