WESTON, Fla.--(BUSINESS WIRE)--Ultimate Software (Nasdaq: ULTI), a leading provider of human capital management (HCM) solutions in the cloud, announced today that it has delivered numerous enhancements to its HCM solution in the UltiPro® Summer 2015 release, including a new “at-a-glance” dashboard for predictive metrics on employee performance and retention, and expanded configurability for a more flexible experience that can be tailored to specific customer needs.
New Workforce Predictors Dashboard
The demand for predictive analytics in the area of HCM is rapidly increasing, as businesses are seeing the value of big data and data modeling across many areas of the business, such as expense management and inventory management.
“While many finance, marketing, and supply chain organizations have been implementing analytics solutions for decades, HR is just now starting to get serious,” said Josh Bersin, principal, Bersin by Deloitte, Deloitte Consulting LLP. “Our research shows that only 4% of the large organizations we surveyed have the ability to ‘predict’ or ‘model’ their workforce, while almost all can model and predict their financial results and expenses. The next level of people analytics solutions are most likely to come from HR software vendors, which increasingly are able to provide predictive solutions out of the box.”
To enable HR teams to act on the predictive power of the employee data they already gather, the latest enhancements to UltiPro’s set of predictive analytics — which include the UltiPro Retention Predictor™, the UltiPro High Performer Predictor™, and the UltiPro High Performer Indicator™ — include a new visual dashboard that can help leaders quickly spot their future top performers and recognize if they are at risk of losing top talent.
“Our UltiPro Summer 2015 release focuses on empowering our customers through data and analytics,” said Adam Rogers, chief technology officer for Ultimate. “With UltiPro’s Predictive Analytics Dashboard, customers have an at-a-glance view of their employees’ performance and retention risk. From there, leaders and managers can make data-driven decisions regarding their talent strategies, which can result in lower turnover and even higher performance.”
UltiPro’s Predictive Analytics Dashboard includes visual indicators such as:
- High-, medium-, and low-retention-risk groups, based on the UltiPro Retention Predictor analytics
- High performers by retention risk
- Termination rates of the workforce as a whole, in comparison with the termination rates of high performers, and more
“Building a better environment to attract and retain talent starts with having visibility into your workforce as it stands today and what’s likely to happen in the future. Our Predictive Analytics Dashboard empowers customers with easy-to-understand visual gauges of the top talent in the organization and future flight risks,” said Rogers. “Ultimate is continuously evolving the scope of UltiPro’s analytics to help our customers build the people-centric environments they need to grow and succeed.”
Many Ultimate customers are already using UltiPro’s predictive analytics to forecast employee performance and flight risk, and assist managers in taking action to grow and retain high-potential talent.
“We are excited about Ultimate’s predictive tools and their promising role in workforce planning and the talent assessment processes at INTRUST Bank,” said Jill Beckman, division director of people services at INTRUST Bank. “We are currently partnering with Ultimate to better understand the analytics and how to best integrate them in our processes, as well as understand and utilize the new Predictive Analytics Dashboard.”
The Summer 2015 release also adds enhanced configurability that focuses on allowing customers to more easily tailor the UltiPro solution to their business requirements through an engaging and intuitive end-user experience. New features include:
- Expanded workflow configurability and simplified configuration capabilities for common changes such as field-label changes
- New “Value Rules Engine” that gives customers the ability to auto-populate data in one field based on the value in another field in the system — for example, automatically populating the department an employee works in based on his or her office location
- Faster tools for mass data updates
- Enhanced ability to more easily create and manage integrations to other business systems with the new intuitive graphical design of UltiPro’s Integration Studio
“More than 1,000 Ultimate customers are leveraging UltiPro’s configurability options and have created more than 60,000 configurations to address business-specific data, field labels, workflows, page layouts, and more,” said Rogers. “Because Ultimate believes in simplifying work to renew and increase engagement, we enable our customers to achieve a highly tailored solution through configuration. We are strengthening UltiPro’s configurability with every release so that UltiPro can fit our customers—not the other way around.”
Ultimate continues to grow its partner ecosystem to give customers options to leverage complimentary products and services. In summer 2015, Ultimate extended the value of UltiPro with connectivity to:
- NetSuite, the industry’s leading provider of cloud-based financials/ERP and omnichannel commerce software suites, with the ability to move general ledger (GL) files seamlessly between UltiPro and NetSuite during the payroll process
- HireRight, a leading provider of global employment background checks and drug testing, offering an integrated solution that enables recruiters to order and manage background screening programs from within UltiPro, reducing administration to help improve the candidate experience and onboard talent more quickly
- Assess Systems, a leading provider of comprehensive employment assessments
Ultimate also announced several new partnerships with providers that offer related HR and payroll services, including:
- eQuest, a provider of job delivery services to career sites worldwide
- PayAsia, a large-population payroll provider servicing 24 countries in Asia Pacific, India, and Africa
- Asurint, delivering comprehensive background screening and drug-testing services
- Tax Credit Co., offering a comprehensive service to capture tax credits across all major industries
- Vault Verify, providing a flexible, accurate, easy-to-use, and trusted system for processing employment and salary verification requests for current and former employees, DOT verifications, degree verifications, and more. Vault Verify significantly reduces the labor burden associated with verification of employment (VOE) and helps make HR a profit center for any business.
“We are pleased that Ultimate’s partner program has grown so extensively, and we welcome our latest partners and their diverse expertise to our partner network,” said Rogers. “We are excited to work together to deliver the industry’s best HCM products and services.”
About Ultimate Software
Ultimate is a leading provider of cloud-based human capital management (HCM) solutions, with more than 20 million people records in the cloud. Ultimate’s award-winning UltiPro delivers HR, payroll, talent, and time and labor management solutions that connect people with the information they need to work more effectively. Founded in 1990, the company is headquartered in Weston, Florida, and employs more than 2,600 professionals. In 2015, for the fourth consecutive year, Ultimate was ranked in the top 25 on FORTUNE’s list of the 100 Best Companies to Work For; recognized for the third year in a row as one of Achievers’ 50 Most Engaged Workplaces™ in North America; ranked #7 on Forbes magazine’s list of the 100 Most Innovative Growth Companies; named among the InformationWeek Elite 100, honoring innovation in business technology; and recognized as a “Leader” in Nucleus Research’s HCM Technology Value Matrix. Ultimate has more than 2,800 customers with employees in 160 countries, including Bloomin’ Brands, Culligan International, Major League Baseball, Pep Boys, Texas Roadhouse, and Yamaha Corporation of America. More information on Ultimate’s products and services for people management can be found at www.ultimatesoftware.com.
UltiPro is a registered trademark of The Ultimate Software Group, Inc. All other trademarks referenced are the property of their respective owners.