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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Automatic Data Processing, Inc.    ADP

AUTOMATIC DATA PROCESSING, INC.

(ADP)
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Automatic Data Processing : ADP DataCloud Reaches New Heights with AI-Enhanced Features

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10/02/2019 | 08:31am EST

ROSELAND, N.J., Oct. 2, 2019 /PRNewswire/ -- In a constantly evolving, fast-paced world of work, data-driven insights can mean the difference between surviving and thriving.  ADP®, today announced enhancements to its workforce analytics platform, ADP DataCloud, that include an improved user experience and technological advancements that simplify business management with the goal of eliminating barriers through enhanced artificial intelligence (AI) capabilities.  

In an increasingly competitive labor market, companies of all sizes need to be nimble and informed to target, attract and retain talent with the skills necessary for long-term employment. Through machine learning, ADP DataCloud leverages ADP's unmatched workforce data from over 30 million employees to deliver actionable insights that can help executives make real-time decisions to better manage their businesses.  

"Due in part to the inaccessibility and mistrust of their data many companies are "flying blind" in terms of accessing and understanding vital data about their own workforce.  This is a major pain point we often hear because it serves as a barrier for organizations to get the intelligence necessary from their data to design a more effective workplace," said Jack Berkowitz, senior vice president of product development at ADP.  "We evolved ADP DataCloud in an effort to help solve for that challenge and allow business leaders and HR managers to make more informed and efficient decisions that directly impact the bottom line."

ADP leverages insights from its immense pool of workforce data to design products that allow business leaders to make actionable decisions by eliminating the need for the manual analysis of a company's data.  Previous enhancements such as Executive and Manager Insights (EMI) have helped clients seamlessly measure, compare and apply insights uncovered from ADP workforce data to identify specific issues including unnecessary overtime costs and productivity gaps, enabling them to take action within the flow of work. With AI-enhanced capabilities, ADP DataCloud can continue building upon its success and help leaders proactively address issues before they become larger problems.

"The day of data-driven talent recommendations has arrived," said Josh Bersin, global industry analyst. "ADP's enormous access to workforce data, coupled with safe and ethical AI to identify patterns, can help companies rapidly improve hiring, pay, and management decisions." 

A new feature allows for more intelligent hiring through the use of more relevant job-matching. ADP DataCloud improves a hiring manager's chances of identifying and onboarding the right candidates using an improved job-matching solution that extends to over 27 unique industry models and deepens job understanding down to the skill level.  Designed for hiring managers and HR departments, this solution offers managers the ability to pull relevant and required skill sets for a job posting from previous hires in ADP's vast aggregated and anonymized employee data set, helping organizations deliver more effective and accurate job postings based on those necessary skills, resulting in better candidates and hires.

Features and benefits soon to be available:

  • Data Mashup:   Data Mashup gives the ability to import business data into ADP DataCloud, such as operational budgets or sales results, and directly overlay that data onto existing HCM metrics to create automatic hybrid metric calculations and data visualizations.  Additionally, the feature includes the ability to export metrics to multiple leading business intelligence systems via connectors to facilitate additional downstream analyses and dashboards.
  • Storyboard Experience:  The Storyboard experience is a complete re-imagining of the workforce analytics experience by providing a focused narrative about pressing human resources business challenges, such as the aging workforce or high-performer retention.  Storyboards combine machine learning and predictive analytics along with in-line expert advice based on ADP's extensive experience in human resources to guide HR practitioners and operational managers to solve problems.
  • Model-Based Benchmarks:  ADP already provides award-winning HR and compensation benchmarks from one of the deepest and broadest data sets in the industry, including more than 30 million employee records.  In this new capability, ADP extends these observed benchmarks to give a view of compensation for up to 150 million working people, driven by a set of deep learning models that extract patterns and knowledge from millions of payroll records and job profiles to provide the most accurate information that reflects the reality of the position being shown.
  • Embedded Insights Detection: Embedded insights in workforce management help leaders make better HR decisions. With anomaly detection, managers are detecting new patterns of behavior which can easily identify tardy or absentee employees based on specific trends of the workforce management platform.  Breaking down the results according to the worker status (e.g. full-time, part-time, contractor) and then comparing them to the rest of the organization. With these embedded analytics built into the ADP workforce management platform, managers can now identify factors that put the organization at risk and take appropriate action.

To learn more about ADP DataCloud, visit www.adp.com

About ADP (NASDAQ – ADP)
Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential.  HR, Talent, Time Management, Benefits and Payroll.  Informed by data and designed for people.  Learn more at ADP.com

Safe Harbor Statement

This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could" "is designed to" and other words of similar meaning, are forward looking statements. These statements are based on management's expectations and assumptions and depend upon or refer to future events or conditions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements or that could contribute to such difference include: ADP's success in obtaining, and retaining, clients, and selling additional services to clients; the pricing of products and services; the success of our new solutions; compliance with existing or new legislation or regulations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest rate and foreign currency trends; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or cyber breaches, fraudulent acts, and system interruptions and failures; employment and wage levels; changes in technology; availability of skilled technical associates; the impact of new acquisitions and divestitures; and the adequacy, effectiveness and success of our business transformation initiatives. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk factors discussed under "Item 1A. Risk Factors" of our most recent Annual Report on Form 10-K, and in other written or oral statements made from time to time by ADP, should be considered in evaluating any forward-looking statements contained herein.

ADP, the ADP logo, and Always Designing for People are trademarks of ADP, LLC.

Copyright © 2019 ADP, LLC. All rights reserved.

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(PRNewsfoto/ADP, LLC)

 

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SOURCE ADP, LLC


© PRNewswire 2019
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