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Like most of the other departments in an organization, today’s human resource department has to put up with constant change. This no longer applies to the human component only but also such processes as recruitment, onboarding, reporting protocols, and professional development. Also, managing a multinational and multigenerational workforce amidst the change is quite a challenge.
One of the major obstacles that HR executives face is convincing a cynical CFO to approve a move to the cloud. The CFO’s stand is understandable as they will approve only what makes business sense and is justifiable. This necessitates that HR executives come up with a plan, a budget, and a timeline that’s definable and also realistic. In this post, we give you insights on how to build a winning case.
Components of a good business case
When presenting a business case, you will need to convince the organization’s leadership to embrace a vision that only you understand. Here’s how to structure your business case:
The executive summary
This is the first section of your business case. It should succinctly convey what’s on the business case. First impressions are critical, so you’ll need to get this section right.
Case for change
In this section, you should explain why you need to explain why your organization should invest in HCM Cloud rather than opening a new store. This is your chance to show how the implementation and use of tools such as Oracle Fusion HCM aligns with the overall goals of the organization.
Financial appraisal
For this section, you might need to ask for help from the finance department. The purpose of this section is to:
- Identify the project’s financial implications and establish whether it’s affordable
- It compares the cost of the project against its anticipated benefits
- Assess the project’s value for money
- Strategy and execution
This part has two main segments: deployment and mitigation strategies. This is what shows that you intend to implement the project on-time and on-budget.
When creating a business case, think beyond cost savings and include other elements that will strengthen your case. Add and quantify everything that will help your organization carry out tasks faster, efficiently, and cost-effectively. For instance, you could explain how BI support will gather, store, and analyze employee data and how this helps in decision making.
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While it’s important to get the numbers right, your business case pitch should be as close as possible to the values of the business. Point out how cloud implementation will benefit all the other aspects of the business. Get your organization invested and engaged with the future of your business and learn more about how DataTerrain reporting can help your company grow and prosper by contacting us here.