View
128
Download
0
Category
Preview:
DESCRIPTION
The industry has experienced the convergence of payroll, HRIS, and Time & Labor Management (TLM). This presentation was given at the Infinity Software 2014 User Group Conference on September 3, 2014. Attendees learned about the latest industry trends and how you can position your company to capitalize on these opportunities. The presentation and discussion covered key issues in identifying candidates for integrated products overview, the offering, and highlight pitfalls.
Citation preview
ConvergencePayroll, HRIS, and TLM are coming together
– what it means for you
Contents
A brief history of Convergence
Convergence in our industry
The challenge of the SMB market
Industry landscape
How Infinity can help you win
KISS
Did you buy one of these?
1973:
First Handheld mobile phone
Or one of these?
1997:
Palm Pilot Launched
30 Million Sold
Or maybe one of these?
1999:
Blackberry Launched
Mobile Email
80 Million Sold
The Power of Convergence
+ =+
iPhone: 500 Million Sold and Counting
The Magic of Television
The VCR: A Cool Invention
Mass marketed in 1975.
How often did you record and re-play shows?
The Power of Convergence
+ =
DVR: Integrated capabilities led to widespread adoption
Convergence in Our Industry– August 17, 2006
Convergence in Our Industry– September 13, 2007
Our Industry
Competitor Product V Rating
Others: Paycor, Ultimate, Ascentis, etc…
Why do consumers want convergence?
• Ease of use
• Centralization of data– Avoid files, imports/exports– Eliminate “multiple systems of record”’
• Better visibility and reporting
• Cost savings– “Best of Breed” vs “Suite Approach”
I know you must get it…
http://youtu.be/qXdmTtk1Mm4
Scottsdale Weather ReportWednesday, September 3rd, 2014
The SMB Market
• Small Business = <100 employees
• Medium Business= 100 to 1,000 employees
Target Market Convergence
Challenge of going down-market
Challenge of going up-market
Characteristics of the SMB Market
• Relatively small HR budget
• Limited HR resources– E.g., HR generalist vs specialists (benefits, payroll, etc)
• Everyone is “very busy”
• Desire “Best of Breed” functionality
Best of Breed Desires
Golden Retriever Solution
IT Implementation Challenges (I)
40%-- According to IBM, the percentage of projects that meet schedule, budget, and quality goals
Yogi- ism (I)
“You’ve got to be very careful if you don’t know where you’re going, because you might not get
there.”
IT Implementation Challenges (II)
50% | 60% | 60%
-- IT implementations with cost over-runs, delays, and lack of value, according to Panorama Consulting
Yogi- ism (II)
“We made too many wrong mistakes.”
IT Implementation Challenges (III)
49% | 35% | 44% -- Client satisfaction with meeting business needs,
employee engagement, and overall experience, according to Panorama Consulting
Yogi- ism (III)
“You can observe a lot by watching.”
“It’s not too far, it just seems like it is.”
“When you come to the fork in the road, take it.”
Pitfalls• Lack of client resources / focus
• Unrealistic expectations– i.e., customizations
• Unwilling to change
• Owning the data– Integration and sync
complications
Solutions• Identify strong client point person,
phased-approach with “quick wins”
• Set realistic expectations, pick the right prospects and clients
• Focus on goal, not on method
• Client point person needs to be comfortable with data or have resource that is
Common SMB Pitfalls and Solutions
We are all Yogis
• Yogi was small in stature– – 5ft, 7 inches tall
• Yogi appeared in 14 World Series and won 10 Championships
• We are small companies, but integrated Payroll-HRIS-TLM gets us in the game– And we can win!
Industry Landscape
Payroll HRIS TLM
Advanced TLMSync, Front-end
HRIS Sales
• For every 100 demos…– 20 wins– 20 losses– 60 “not todays”
• How to transition from a “nice to have” to a “must have”?
What is FUD?
FUD
FearUncertaintyDoubt
The ACA
Fear is a Great Motivator
Convergence in Action
ACA Compliance
Core HR Data
TLMBenefits
Then and Now…
Sex sells…
Then
Compliance sells…
Now
How Infinity Can Help You Win
• Integrations with Millennium and Evolution
• Partner Program
• New features and initiatives:– Advanced TLM– ACA Compliance Tools– EasyPay front-end (Millennium)– Integrations with Aurico and ZipRecruiter (ATS)
KISS
KISS
KeepItSimpleStupid
A KISS Goodbye
Pilot with 2-3 of your best clients
Roll-out an ESS-only program
The sync– focus on payroll specialist
Identify your HRIS expert
Engage in our Partner Program
Questions?
Recommended