HR Software

5 Reasons to have a payroll service

Do you know how investing in HR software is going to benefit your business? While the central principle of a right HR solution is to make human resources management more organized and effectiveit has been difficult to calculate the concrete benefits that the HR team, team leaders, employees and top management receive after the implementation of an HR solution until today.

Understanding HR management within your own business will help you to choose the right software for your company. Knowing what questions to ask and what you’re looking for a system to achieve will help you to select the correct solution. Some questions to ask yourself include:

  • What are the business goals and what functionality would align with these?
  • Who will be using the solution (just HR, management or every employee)?
  • What are the timescales for implementation?
  • What’s the budget?
  • Do you have the buy-in to move forward from people within the business?

To get answers to these questions and get the best result, using an HR software can help the company to work smoothly.  There are many benefits of implementing HR software into your workplace, and here are five of the main ones.

1. Improving productivity

Improving productivityThe most obvious benefit that HR software can provide is in the realm of productivity within your HR department. Implementing HR software can automate a huge number of HR functions, most notably payroll and attendance. By doing so, you free up your HR workers to focus on other issues like attracting new hires and employee training strategies.

2. Measurable ROI

Measurable ROIAn HR Software not only increases the productivity but also reduces the cost to the company. With paper-based management system, for a company including 300 employees must need 3 HR professionals to manage everything smoothly. On the other hand, if the organization will use the HR software, 1 HR professional is enough to handle. This results in a reduction of cost for HR employees.

3. Improved Security

Improved SecurityWithout any software, all your data is stored in a cabinet which is accessible by everyone and cannot be considered a safe way. Security of the company data is essential and should be maintained in every situation. The HR software is the perfect solution for that. By using the software, your payroll information is safe and only accessible by the validated people. Apart from that, in case of data loss, you can get it from the database backup.

4. Improved decision making

Improved decision makingWhen you have all the right information conveniently located at your fingertips, it also means that you’ll be able to make better decisions, for the growth of your business, since your decisions will be influenced by up to date and accurate information as well as insights that you can gather from your analytics and reporting.

5. Easy Communication

Easy CommunicationA good HR software has a separate directory for each employee where all the data and performance reports related to the specific employee is kept. It helps in better communication with the office employees. In case of immediate requirement, HR management does not need to search for files and documents. By entering the employee id in the software, all the information can be fetched. It improves the communication between the HR department and the employees.

The Upshot

There are many more benefits to HR software, but I hope that this has given you a helpful overview of what HR software can do for the betterment of your business. In general, all of these benefits lead to improved HR function and ability to act more strategically instead of being bogged down in minutiae. HR software is essential as they help us set forth and deploy a strategy in our business.

HR software can handle numerous tasks including payroll, attendance and leave, performance management, and much more. factoHR is one such HR software that can help you solve the HR problems and provide you a proper insight on HR tasks.

To know more about factoHR – HR & Payroll Software, please contact +91 782 000 3100 or visit www.factohr.com

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Call us on +91 782 000 3100 | Mail at sales@factohr.com

Niraj Karelia

Niraj Karelia is the CTO at Version Systems Pvt Ltd and responsible for the management of design, development, implementation, and support of information systems for clients. He is responsible for application development, maintenance, testing, and infrastructure management services worldwide.