Oracle NetSuite has launched NetSuite SuitePeople Workforce Management - a solution that helps brands increase operational efficiency while reducing costs.
The solution's primary aim is to drive employee engagement through various automation tools and ultimately boost profitability.
In the wake of labor shortages and economic uncertainty, organizations are looking to optimize their workforce and mitigate losses.
The workforce management software market size is projected to reach USD 12.5 billion by 2030. Yet, this could happen a lot sooner as more and more companies are going on layoff sprees to survive the recession.Those employees that get to keep their job will most likely start using a new solution that helps them be at the top of their game.
Just a couple of days ago, Qualtrics unveiled two new capabilities that automate processes while saving time and costs. Will other vendors follow suit when it comes to productivity-inducing releases?
Evan Goldberg, Founder and EVP, Oracle NetSuite, said: “In a tight labor market, organizations need to elevate the management of their workforce to be competitive.
“With SuitePeople Workforce Management, organizations can quickly adjust staffing to align with changing business conditions. They can also ensure they accurately pay their employees and meet compliance requirements. This addition to SuitePeople reinforces our commitment to helping our customers increase employee engagement, which in turn positively impacts the bottom line."
About the Solution
SuitePeople Workforce Management provides insights into sales metrics, production targets, and labor costs. It also provides employees with scheduling, attendance tracking, and wage calculation tools.
On the platform, employees can view their schedules, clock in and out of shifts, and request shift changes from their mobile devices.
Managers are able to build a staffing plan using a combination of forecasts, employee schedule templates, and labor costs. As a result, organizations can more accurately forecast staffing demand.
SuitePeople Time Clock streamlines attendance tracking via a digital time-clocking app so employees do not need to manually calculate their worked hours. By using the mobile app, employees can track time, fill and swap shifts. If an employee has not punched in or out of scheduled shifts, managers can act quickly to maintain productivity.
In addition, photo capture and biometric fingerprint verification prevent employees from logging in and out of work on behalf of other employees.
The solution also includes a real-time dashboard that enables managers to track insights on a daily basis, create forecasts and benchmark them against achieved results.
SuitePeople enables employees to request time off, access employee directories, monitor upcoming vacation schedules, and recognize team members for good work.
NetSuite SuitePeople Workforce Management will be available in the United States, Canada, Australia, and New Zealand in early 2023, while the United Kingdom and Ireland will receive access to the solution in Summer 2023.