From today, HR directors, administrative managers and CFOs have three unique new features available to them. Based on Machine Learning and only available in Europe, they provide more accurate forecasts of holidays, paid hours of leave and overtime costs.
F2A also announces its partnership with AIxIA (Italian Association for Artificial Intelligence).
Milan, 19 June 2019
F2A, a member of Ardian Group and a leading provider of outsourcing solutions in Italy in the fields of HR, Administration, Finance and Control, is enriching the world of HR with an AI-driven technological innovation unique in Italy and Europe, which allows businesses to make increasingly accurate predictions of the use of holidays, paid hours of leave and overtime costs through Machine Learning. Thanks to a continuously evolving platform, F2A processes more than 2.3 million payslips every year and invests approximately 15% of its turnover in technology.
F2A has also announced its membership of AIxIA, the Italian Association for Artificial Intelligence, which has been operating in Italy for more than 30 years.
MyArea F2A, a web and mobile suite that uses over 20 apps for the management and administration of personnel, is extending its offering with three new Artificial Intelligence-driven functions available in the Employee Self Service, Reporting, Labour Cost and Budget apps: Predictive Analytics, Predictive Reporting and Smart Planning. These important innovations in the technologically cutting-edge HR sector are only available on the Italian and European markets. The excellent results were reached by implementing predictive models based on Machine Learning, which allowed the completely anonymous analysis of approximately 5 million payslips stored by F2A.
As well as accessing both budget and effective data, from now on the HR directors, administrative managers and CFOs of medium to large-sized companies will also be able to benefit from advance forecasting, based on more than 100 variables analysed, which is fundamental in drawing up a more precise, intuitive and reliable personnel budget and allowing incredibly accurate work planning. The algorithms underpinning these analyses translate into diagrams (Predictive Analytics), reports (Predictive Reporting) and planning procedures (Smart Planning), which display data both for individual employees and for different professional profiles or operating structures, and an overall view of all company employees. As proven in the testing stage, the precise forecasts obtained thanks to Machine Learning are substantially superior to any forecasts carried out using traditional methods.
“As the leading Italian player in the Outsourcing of Personnel Management and the leader in services provided to Finance Departments, with more than 2,300 clients, we have welcomed the biggest challenge of the century wholeheartedly and with great determination,” stated Raul Mattaboni, Vice-president and CEO of F2A. “This remarkable milestone represents the beginning of an important transformative technological journey based on Artificial Intelligence for F2A, further confirmed by our decision to join AIxIA.”
“We are investing heavily in technology to increase our already high levels of expertise and to position F2A in the outsourcing field as a partner capable of supporting the digital transformation of HR and Finance Departments” stated Giorgio Colagrossi, R&D Director for F2A. “We are aiming to democratise access to artificial intelligence to allow all our clients to be, not only innovative, but also and above all competitive on the market thanks to tools that improve both the insights necessary for top management decision-making processes, and in the day-to-day activities of more operational departments.”
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