Oracle Fusion Human Capital Management (HCM) is a revolutionary step in human capital management in the cloud. In the past few years, cloud technology saw robust growth as a large number of customers adapting cloud-based option and the volume of the transaction happening seamlessly.
Oracle HCM Cloud Service delivers a complete HCM solution that includes global HR, payroll, time and labor, absence, benefits, compensation and talent management. This solution helps any organization to align their workforce and manage their resources better. HCM’s compliance with integrated enterprise social networking tools, business intelligence, and mobile data access is an added advantage for any organization to implement it.
Employee costs are the single most significant expense of most organizations. This makes HCM one of the most critical business functions. HCM reports must be accurate, efficient and should be compliant with the local and international laws.
Best Practices for HCM Reporting
HCM is becoming central to value creation and competitive advantage for many organizations. So to ensure more emphasis on HCM, organizations now need up to date information on people, compensation, talent management and performance metrics in their reports.
The following best practice can be adopted for the Oracle HCM Cloud report creation:
1.Define the folder the report should reside
Oracle HCM provides 3 types of folders to store the reports:
•MyFolder (only user can view the report)
•Shared folder (viewable by other users with appropriate permission)
•Custom folder (for customized objects).
Storing in appropriate folders will secure the reports and will be easier to manage.
2.Store all custom objects in custom folders
If you have created custom reports and would not want it to be affected by future Oracle upgrades and patch updates, then you should store it in custom folders.
You can quickly locate and identify customized objects in custom folders and can edit objects in the Custom folder without compromising security on the original objects.
3.Decide on what should be included in the report
It is essential to consider the following points before creating the reports. This will avoid rework and iterations.
•Information to be included – Eg. Department Name, Employee Name, Number of absences, Absence reason
•The type of layout – Eg. Table with Pie chart
•Formatting requirement? – Eg. Is Conditional formatting for certain fields with exceeds the threshold value, like “Number of absences” is greater than 15.
•Who will view the reports? – Can be saved to the relevant folder
•Output format – The output format in which the report would be viewed. Eg. Excel/PDF/CSV
4.Determine the template to be used
Oracle HCM Fusion platform provides multiple templates types to support different report layout requirements
•RTF: Rich text format (RTF) templates created using Microsoft Word, for hard copy reporting needs like PDF, Excel, etc.
•XPT: Templates are for interactive and more visually appealing layouts.
•eText: Templates created exclusively for Electronic Data Interchange (EDI) and electronic funds transfer (EFT) information.
Select the appropriate template depending on your requirement.
5.Re-use pre-defined reports
Oracle has provided a variety of predefined reports that can be reused to generate and print documents for internal operations, external business transactions, or legal requirements. You can also customize these reports to meet specific requirements.
6.Don’t edit predefined data models
Copy the data model into the Custom folder and edit the copy, so that it does not affect the original data model.
Contact DataTerrain Today for Assistance with Oracle HCM Reports
A thorough understanding of the drivers for creating each report and the output format required will help in identifying the approach to create the reports. There is no generic solution for all report requirements. However, considering the above best practices in will help in ensuring that HCM reporting are on-time, accurate, practical, and efficient. For the most efficient HCM report conversion or creation, contact DataTerrain today via our online contact form.