Oracle’s ORCL HCM Cloud solutions will reportedly be utilized by Extreme Networks as part of its HR transformation journey. According to a report by Dataquest, Extreme Networks had partnered with Tata Consultancy Services (TCS) for the deployment of Oracle HCM Cloud.
Markedly, TCS leveraged its Business 4.0 thought leadership framework alongside expertise in Oracle HCM Cloud and Agile methodologies to enable a seamless integration.
Efforts to Boosts HR Capabilities
According to an insight from Enterprise Times, Extreme Networks has been using Oracle’s cloud solutions for a while. In order to further improve HR functions, the company recently decided to shift its human capital system from Oracle EBS to Oracle HCM Cloud.
The transformation process, which has been completed, will introduce hyper-personalization to Extreme Networks’ HR platform.
Oracle HCM Cloud is likely to aid Extreme Networks nurture talent and boost employee morale. Further, the transformation will enable Extreme Networks to adopt agile ways of working with improved efficiency, greater innovation and a performance-oriented culture.
Moreover, HCM Cloud will offer a simplified and unified global platform to Extreme Networks that enable faster, smarter decision-making and support strategic workforce initiatives. The system will streamline core HR and employee management processes.
The adoption of HCM Cloud is a part of Extreme Networks’ digital transformation roadmap. By partnering with TCS, Extreme Networks was successful at integrating the new HR application across 33 countries wherein it operates.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle’s HCM Cloud Gains Traction
Enterprises have been rapidly adopting human capital management solutions to make HR functions more efficient and gain actionable insights.
Markedly, Oracle HCM cloud is widely being adopted by organizations, as a part of an ERP cloud application suite. HCM Cloud is a comprehensive HRMS suite that comprises different modules, which can be purchased as a single suite or as separate stand-alone products.
Broadly, Oracle’s HCM products are categorized under HR, talent management and workforce management modules.
One of the key drivers of the company’s HCM solution is its AI-enabled approach to manage employees. It is an end-to-end process, providing solutions for managing all HR related function. Illycaffe, IBVI and TrueBlue are some of the customers of Oracle’s HCM solutions.
However, Oracle’s HCM Cloud faces significant competition from other companies that offer similar capabilities. In this context, HCM applications such as SAP’s SAP SuccessFactors and International Business Machines’ IBM Kenexa have been gaining popularity. Moreover, companies like Workday WDAY, BambooHR and Ceridian Dayforce offer comprehensive HR management solutions.
Currently, Oracle carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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