Explore BrainMass

Explore BrainMass

    Interaction between HR and Finance

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Explain why a company should or should not share a common database for HR and finance applications. Is an ERP system a good fit for this? Does your company HR/Finance division offer an intranet information site and services for employees?

    Visit the Web site for one of the major enterprise resource planning (ERP) software vendors. Explain its main advantage?

    © BrainMass Inc. brainmass.com October 10, 2019, 7:52 am ad1c9bdddf

    Solution Preview

    See attached file for solution.

    Enterprise Resource Management

    For any organization to succeed, all the business units should work in harmony. It is so because the organization as an entity has goals and objectives which have to be fulfilled by different functional units. Human resources and finance are two very different departments, each bringing a unique, yet equally valuable view of the organization (Rosendahl, n.d). Both departments work in collaboration to set overall workforce strategy, develop annual budget, determine changes to reward programs, etc. Hence, ...

    Solution Summary

    The solution of 299 words provides overview of importance of interaction between HR and finance functions and role of ERP.