Human resources software tools are incredibly important in today’s business environment. It’s how companies keep all of the employee data in one place, comply with a range of global legalities, and make sure everything is in order with their most important resource – their workers.
BambooHR is one of the more popular Human Resources tools. It aims to enhance the employee experience, streamline workflows, and improve data accuracy. The software includes applicant tracking, onboarding, performance management, and HR reporting.
But HRIS software, including BambooHR have their limitations. Many have a lack of data integration and consolidation, inefficient collaboration, and a lack of real time insights about the bigger picture.
This is where Datarails comes in. Datarails is an FP&A solution that integrates seamlessly with BambooHR, allowing HR teams to leverage their existing data and take their performance to the next level.
Benefits of Datarails and BambooHR Integration
- Creating a Centralized Data Management Source: Integrating Datarails with BambooHR creates a centralized data management source. The combination establishes a singular source of truth by enhancing data consolidation, accuracy, and consistency among all departments. Streamlined data management is crucial in reducing risks and eliminating data duplication, ensuring reliable and trustworthy insights.
- Strategic Decision-Making and Flexibility: Another significant advantage of using Datarails with BambooHR is the ability to analyze the impact of HR activities on financial performance, which helps in strategic decision-making. Datarails’ advanced modeling capabilities enable constructing “what-if” scenarios and assessing various assumptions, helping professionals make well-informed decisions.
- Enhancing Team Collaboration and Transparency: Furthermore, Datarails improves team collaboration by allowing multiple users to access and edit reports and models simultaneously. This ensures that everyone is working with the latest information. Additionally, the platform offers version control and audit trails, providing transparency and accountability throughout the financial planning process.
- User-Friendly Interface and Quick Implementation: Most notably, Datarails has a user-friendly interface that is simple to navigate. It includes templates and workflows that can be tailored to the unique needs of each organization. This design ensures finance teams can quickly start using Datarails without needing extensive training, providing a sense of comfort and reassurance.
- Using HR data to plan for the future: Employees are the most important part of the business but they are usually the most costly as well. How will adding 2 new sales employees affect revenue in a year? Will eliminating a position save money in the long run or just short term? These are the types of questions that Datarails is able to answer in an accurate way by combining all of the company’s data with BambooHR.
Using Datarails and BambooHR
The finance team of a midsized software development company explained what Datarails and BambooHR can do for them:
“With Datarails and BamboHR you can combine multiple data sources and slice and dice however you want. This file that you’re looking at is integrated with Netsuite, SAP, and ADP, my payroll platform. Now, there are a few use cases of bringing in BambooHR, like headcount reporting and headcount planning. Another big use case is using us as your centralized database. When you’re looking at your P&L here, we can drill down into this payroll expense and see what makes it up to the transaction detail. You don’t need to go back into BambooHR. It does two things: hold your data into a pivot table and then opens up a second tab here with your transaction detail coming in from the source system. So I have pay rate, hire date, FTE, everything I need in one place.”
The CFO of a data and intelligence company for energy markets says what they like about the integration:
“The ability to work with non-structured data and bring that in, is a big advantage. That’s useful for getting data from our BambooHR system or even TravelPark, a travel system. And I’m sure we’ll be able to do something with that. To me, the flexibility of it is what I like the most.”
