Digital HCM solutions are the best way forward for South African firms
As the tax and regulatory environment in South Africa navigates a period of constant transformation, the best way for firms in the country to keep pace with the regulations is through the integration of digital human capital management (HCM) solutions, according to a senior tech consultant.
Ian McAlister is the General Manager at Johannesburg based integrated technology solutions firm CRS Technologies. The firm’s suite of services is centred around the HCM domain, and includes integrated HR & payroll software and services as well as support with employment legislation.
Such services have never been more in demand than in the current regulatory environment in South Africa, particularly as the government looks to recharge the public coffers through constant shifts and transformations in the country’s taxation system. Firms across South Africa are struggling to keep up with the changes.
McAlister suggests that digital HCM solutions are ideal for this objective, particularly in an environment such as South Africa where a number of small and medium firms are looking to leverage the latest in technology to optimise the resources that they currently have at their disposal.
CRS’ solutions in the HCM domain allow for the customisation of the regulatory requirements in accordance with any market in Africa where a firm may be operating. The solution not only allows South African firms to keep track of domestic changes, but offers a mechanism by which international firms looking to invest in the market can ensure that they are on secure footing.
“If we delve into one very important area of labour legislation, governance and compliance, namely tax, we know that tax tables change on a regular basis and different countries also have different rules that govern processes and procedures,” explains McAlister on the current scenario.
“This is why an integrated HCM system makes sense. It can cater for all scenarios in operation, including centralisation, locality and globalisation. So the critical advantage for business is all the relevant information to manage these scenarios is in one place, more efficient and far easier to handle,” he adds.
Given that attracting foreign investment is currently one of the primary concerns amongst South African policy makers, such a solution could prove critical to the economy as it allows for international firms to develop a sense of familiarity with the domestic market.
