Your guide to the tech outside of HR Tech

In May, BTR focused a lot of our webinars and social media sharing on PEOs, or Professional Employers Organizations. To build on to this, we thought it would be helpful to review the different types of technology vendors that exist for employers. What is an ERP? How does a CRM and an HCM differ? Why are there so many acronyms? Below is a brief glossary of the technology vendors out there you may encounter when speaking with clients – but word of the wise: you shouldn’t be an expert in any of the following technologies, so always bring in a third party consultant who is.  (If you want to review all of our PEO content in our Broker Lunch & Learn, reach out to #AskEmily at btrprojects@bentechre.com)

ERP: Enterprise resource planning: a suite of software that organizations use to manage day-to-day business activities, such as accounting, procurement, project management, risk management and compliance, and supply chain operations. A complete ERP suite also includes enterprise performance management, software that helps to plan, budget, predict, and report on an organization’s financial results.1

Why would your client need this?

Many organizations need an ERP for purchasing, inventory management, accounting/financial tracking, and project/labor allocation. ERPs can also have an HCM functionality – like payroll, timekeeping, or HRIS – but these features tend to be less robust than a true HCM vendor

CRM: Customer relationship management: a technology for managing all of a company’s relationships and interactions with customers and potential customers. Essentially: an account management system.

Why would your client need this?

CRMs technologies have sales, marketing, customer service, and e-commerce capabilities. CRMs main goal is to improve business relationships by streamlining sales, marketing, and engagement processes. A CRM system can give your clients a clear overview of their customers. Employers can see everything in one place — a simple, customizable dashboard that can highlight a customer’s previous history with the company, the status of their orders, any outstanding customer service issues, and more.2

HCM: Human Capital Management: a technology solution focused on a set of practices related to people resource management. These practices are focused on the organizational need to provide specific competencies and are implemented in three categories: workforce acquisition, workforce management and workforce optimization.3

Why would your client need this?

HCM vendors provide payroll, tax, talent management, benefits administration, and a lot of other employee-facing services & tools. HCMs can increase hiring speed and quality by quickly sourcing the right candidates, increase engagement with work-life solutions that help motivate employees and deliver a superior employee experience, and retain talent by providing professional learning and growth opportunities.4

BTR focuses on HCM solutions for our clients, which includes Benefits Administration. We can locate the right solution for your client, review their current tech to identify areas of improvement, analyze the clients current pricing or a proposal as it compares to leading vendors in the market, and so much more! To learn more about out services, please contact the Project Box for all of the details!

1: Oracle: What is an ERP?            3: Human Capital Management (HCM)
2: CRM 101: What is a CRM?        4: What Is Human Capital Management?

 

Contributor

Emily Fleming is an HR Technology Analyst & on the BTR Project Box Team. She has been working for BTR for just under a year and has experience in Employee Benefits, HR Tech and customer service.

 

Contributor

Corrina Nation is an HR Technology Project Manager. She has been a member of the BTR team for nearly two years and has ten years of experience in the employee benefits industry.