ROI case study: ADP Lyric HCM at Steel Partners

Steel Partners, a global holding company with 14 different subsidiaries, achieved a 96 percent ROI upon consolidating HR operations under ADP Lyric HCM. The organization also recovered its investment in the solution less than one and a half years after the implementation. Previously struggling with a lack of standardization and efficiency across HR processes, complex vendor management, and inflated point solution spend, Steel Partners decided to unify its HCM ecosystem through a single vendor partner. Upon implementing Lyric HCM, the organization achieved more than $1.1 million in retired software costs and drove process efficiencies that led to more than $3.7 million in avoided HR and consulting headcount. Overall, leaders noted the importance of providing full-spectrum HCM capabilities to all of its operating companies, many of which had no formal solution in place prior to Lyric going live. Additionally, the consolidation of data saved the organization time previously spent gathering data for reporting purposes while providing improved visibility into the full scope of HR operations.