The Need for Profitability Management
Due to the importance of workforce and financial insights to overall business operations, improvements an organization can make to the analytics capabilities within the Human Resources and Finance functions will have wide-ranging impacts for the entire organization. All functions need to hire, retain, develop and motivate individuals to perform at their most productive levels, and even functions that do not have direct revenue responsibilities must manage financial resources. These two business units thus support every other function in the organization in fundamental ways.
The analytics produced by HR and Finance can help line-of-business personnel make decisions in ways that will enable the organization to best meet its objectives. However, in many cases important HR and finance analytics are not accessible from within the business applications that line-of-business employees commonly use. Often, the analytics are delivered via entirely separate applications - situation that makes fully informed and timely decision-making more complex and time-consuming.