ConvergencePayroll, HRIS, and TLM are coming together
– what it means for you
Contents
A brief history of Convergence
Convergence in our industry
The challenge of the SMB market
Industry landscape
How Infinity can help you win
KISS
Did you buy one of these?
1973:
First Handheld mobile phone
Or one of these?
1997:
Palm Pilot Launched
30 Million Sold
Or maybe one of these?
1999:
Blackberry Launched
Mobile Email
80 Million Sold
The Power of Convergence
+ =+
iPhone: 500 Million Sold and Counting
The Magic of Television
The VCR: A Cool Invention
Mass marketed in 1975.
How often did you record and re-play shows?
The Power of Convergence
+ =
DVR: Integrated capabilities led to widespread adoption
Convergence in Our Industry– August 17, 2006
Convergence in Our Industry– September 13, 2007
Our Industry
Competitor Product V Rating
Others: Paycor, Ultimate, Ascentis, etc…
Why do consumers want convergence?
• Ease of use
• Centralization of data– Avoid files, imports/exports– Eliminate “multiple systems of record”’
• Better visibility and reporting
• Cost savings– “Best of Breed” vs “Suite Approach”
I know you must get it…
http://youtu.be/qXdmTtk1Mm4
Scottsdale Weather ReportWednesday, September 3rd, 2014
The SMB Market
• Small Business = <100 employees
• Medium Business= 100 to 1,000 employees
Target Market Convergence
Challenge of going down-market
Challenge of going up-market
Characteristics of the SMB Market
• Relatively small HR budget
• Limited HR resources– E.g., HR generalist vs specialists (benefits, payroll, etc)
• Everyone is “very busy”
• Desire “Best of Breed” functionality
Best of Breed Desires
Golden Retriever Solution
IT Implementation Challenges (I)
40%-- According to IBM, the percentage of projects that meet schedule, budget, and quality goals
Yogi- ism (I)
“You’ve got to be very careful if you don’t know where you’re going, because you might not get
there.”
IT Implementation Challenges (II)
50% | 60% | 60%
-- IT implementations with cost over-runs, delays, and lack of value, according to Panorama Consulting
Yogi- ism (II)
“We made too many wrong mistakes.”
IT Implementation Challenges (III)
49% | 35% | 44% -- Client satisfaction with meeting business needs,
employee engagement, and overall experience, according to Panorama Consulting
Yogi- ism (III)
“You can observe a lot by watching.”
“It’s not too far, it just seems like it is.”
“When you come to the fork in the road, take it.”
Pitfalls• Lack of client resources / focus
• Unrealistic expectations– i.e., customizations
• Unwilling to change
• Owning the data– Integration and sync
complications
Solutions• Identify strong client point person,
phased-approach with “quick wins”
• Set realistic expectations, pick the right prospects and clients
• Focus on goal, not on method
• Client point person needs to be comfortable with data or have resource that is
Common SMB Pitfalls and Solutions
We are all Yogis
• Yogi was small in stature– – 5ft, 7 inches tall
• Yogi appeared in 14 World Series and won 10 Championships
• We are small companies, but integrated Payroll-HRIS-TLM gets us in the game– And we can win!
Industry Landscape
Payroll HRIS TLM
Advanced TLMSync, Front-end
HRIS Sales
• For every 100 demos…– 20 wins– 20 losses– 60 “not todays”
• How to transition from a “nice to have” to a “must have”?
What is FUD?
FUD
FearUncertaintyDoubt
The ACA
Fear is a Great Motivator
Convergence in Action
ACA Compliance
Core HR Data
TLMBenefits
Then and Now…
Sex sells…
Then
Compliance sells…
Now
How Infinity Can Help You Win
• Integrations with Millennium and Evolution
• Partner Program
• New features and initiatives:– Advanced TLM– ACA Compliance Tools– EasyPay front-end (Millennium)– Integrations with Aurico and ZipRecruiter (ATS)
KISS
KISS
KeepItSimpleStupid
A KISS Goodbye
Pilot with 2-3 of your best clients
Roll-out an ESS-only program
The sync– focus on payroll specialist
Identify your HRIS expert
Engage in our Partner Program
Questions?
