SAP SuccessFactors Overview

SAP SuccessFactors is a cloud-based management tool that integrates human resources and financial management systems in one place. Their innovative AI cloud technology, SAP S/4HANA, reduces the data footprint in a database using appealing visuals, industry-specific workflows, and reducing repetitive data. This unique system leads to faster reporting and predictions for your business.

Features of SAP SuccessFactors

Internally SAP specializes in ERP Finance (enterprise resource planning), which they integrate into one central location. Their ERP system helps manage areas such as accounting, CRM, and supply chain management. Their collaborative FP&A (financial planning and analysis software) can be used to enhance business planning in these areas of finance through effective budgeting tactics, forecasting, and predicting, resulting in heightened profitability and performance. Alongside these processes, the software also processes potential legal concerns and offers insights.

Regarding internal employees and employee management, the SAP system offers flexible and customizable and preconfigured dashboards to fit the needs of your company. The dashboards configure everything in the employee lifecycle, from recruitment to potential compensation. The dashboard centralizes documents related to payroll, benefits, and time- attendance tracking. The dashboard also provides individualized works flows, interactive professional development learning experiences, and manager feedback that ensures employees remain consistent with employers’ values and expectations.

For external matters such as Network and Spend Management, the system focuses on maximizing the potential of external resources to optimize business outcomes. They assist with procuring optimal external services and minimizing risk by using analytics and reporting. SAP’s dashboard assists with managing externally sourced workers with on and offboarding, managing timesheets, schedules, and rates. It also has a track-workers function, which keeps an up-to-date profile of workers to maintain compliance with security, health, and safety.

The system also helps find suppliers and buyers for your business. SAP develops a diverse, trusted supplier network through their quick search global supplier portal. They use straight-through invoice processing and Global e-invoicing compliance; it is easy to manage different suppliers and buyers. Throughout, they update their system to ensure that the company is compliant with laws and regulations involving external suppliers.

SAP SuccessFactors Modules

• Recruitment
• Onboarding
• Succession and development
• Performance and goals
• Compensation
• Learning 
• Employee central
• Analytics and reporting