QVANTUM, an innovator in agile corporate planning solutions, today announced that it is expanding further into global markets by introducing its service portfolio of customized workforce cost planning options to organizations across the United States. Collaborating with workforce planning and controlling specialist, Christian Fritz, QVANTUM has developed a practical use case that empowers businesses to engage in precise workforce planning. This expansion into the US market will accelerate QVANTUM’s growth as an industry innovator.
An integral facet gaining prominence within agile corporate management is the strategic handling of personnel expenses. Through software-aided personnel cost planning, organizations can forecast existing and anticipated staffing levels and needs and simulate diverse scenarios. These simulations enable companies to adjust their workforce allocation in response to varying circumstances adeptly.
Addressing the complexity of managing personnel expenses, Amit Mundra, QVANTUM’s Head of Global Business Development, said: “The big challenge in planning and controlling personnel costs is the different perspectives on the topic. HR managers focus primarily on the professional and human aspects, and the costs tend to run alongside. From a controlling perspective, costs, in turn, play a central role. With the new personnel cost planning in QVANTUM, we close this gap. Both sides benefit because neither classic HR tools nor traditional controlling solutions have had such far-reaching HR cost data and analysis options. Our launch into the US market culminates several years of planning. We are excited to provide powerful, cost-effective, easy-to-use software to organizations in this region.”
Furthermore, the utilization of planned versus actual data brings tangible advantages. Consider the current situation where many businesses struggle with accurate workforce planning due to pandemic repercussions and skills shortages. Through QVANTUM’s workforce planning, these companies can effortlessly track their personnel costs in real-time, proactively identifying potential shortages or surpluses to facilitate timely interventions. QVANTUM’s operational personnel cost planning empowers HR managers and controllers to efficiently manage FTE (Full-Time Equivalent) and personnel expenses, incorporating insights from all organizational domains.
Workforce planning expert Christian Fritz underscored the importance, “Personnel costs often constitute a substantial portion of total expenses in companies, exerting significant influence over overall profitability. QVANTUM’s workforce planning provides a comprehensive view of all personnel cost components, including salaries, bonuses, social security contributions, and more, spanning existing staff and vacancies. The capability to directly plan personnel measures within QVANTUM facilitates precise control over personnel resources and the associated costs, optimizing overall corporate management.”
Agile workforce planning proves invaluable even in scenarios such as mergers, where the consolidation of HR applications is necessary. Interfaces enable seamless data transfer from platforms like DATEV or SAP to QVANTUM, streamlining detailed analysis. Amit Mundra explained, “Companies often resort to workarounds, such as Excel, for such use cases. However, these approaches frequently clash with compliance mandates or falter due to operational errors and complexity. QVANTUM offers automated data integration and calculations supported by robust authorization logic to uphold compliance standards. Moreover, our planning data, which incorporates historical company data, remains in real-time.”
When a company adopts QVANTUM’s workforce planning, they receive customized personnel cost planning to align with the organization’s specific needs, collaborating with responsible stakeholders. The outcome is a tailored planning model enabling centralized and/or decentralized calculation and planning of all personnel expenses, encompassing basic salaries, bonuses, capital-forming benefits, and more. This integration embeds workforce planning seamlessly into the holistic corporate planning process, ensuring a cohesive approach. Automation empowers the correlation of planning outcomes across different departments, illuminating interdependencies. Importantly, personal information confidentiality is upheld within cross-organizational planning data.
More information: https://getqvantum.com