QVANTUM, a leader in agile corporate planning solutions, has announced its expansion into global markets by introducing customized workforce cost planning options to organizations in the United States. Partnering 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 move into the US market is expected to drive QVANTUM’s growth as an industry innovator.
One of the key aspects of agile corporate management is effectively managing personnel expenses. By using software-aided personnel cost planning, organizations can forecast their current and future staffing needs and simulate different scenarios. These simulations allow companies to quickly adjust their workforce allocation in response to changing circumstances.
Amit Mundra, QVANTUM’s Head of Global Business Development, emphasized the challenge of managing personnel costs from different perspectives: “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.”
By utilizing planned versus actual data, companies can gain significant advantages. This is particularly valuable in the current situation where businesses are facing challenges in accurate workforce planning due to the impact of the pandemic and skills shortages. QVANTUM’s workforce planning allows companies to track their personnel costs in real-time and identify potential shortages or surpluses. This enables timely interventions to be made and ensures effective management of Full-Time Equivalent (FTE) and personnel expenses across all organizational domains.
Christian Fritz, an expert in workforce planning, highlighted the importance of managing personnel costs: “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 is especially valuable in scenarios such as mergers, where the consolidation of HR applications is necessary. QVANTUM’s interfaces enable seamless data transfer from platforms like DATEV or SAP, 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 tailored to their specific needs. This involves collaboration with responsible stakeholders to develop a planning model that enables centralized and/or decentralized calculation and planning of all personnel expenses, including basic salaries, bonuses, capital-forming benefits, and more. This integration seamlessly embeds workforce planning into the holistic corporate planning process, ensuring a cohesive approach. Automation capabilities enable the correlation of planning outcomes across different departments, highlighting interdependencies. It is worth noting that personal information confidentiality is maintained within cross-organizational planning data.
QVANTUM’s expansion into the US market with its workforce planning solution is set to revolutionize how organizations manage their personnel costs. By providing powerful, cost-effective, and easy-to-use software, QVANTUM enables businesses to engage in precise workforce planning and optimize their overall corporate management. Organizations in the United States now have access to a comprehensive workforce cost planning solution that bridges the gap between HR and controlling perspectives, delivering significant benefits to both sides.