The cloud revolution is taking businesses by a storm and it doesn’t seem to cease anytime soon. In fact, tech pundits are estimating that a whopping number of Fortune 1000 organizations are all set to venture into the cloud in the near future and this includes moving their HR and payroll operations to the cloud as well.
Several companies are shunning away from legacy, entry-level or on-premise HR solutions paving way for cloud-based payroll and HR systems. Besides minimal hardware costs and hassles, businesses using SaaS HR software invest less on support as well. This is the reason why more and more companies have been adopting cloud-based HR software.
Being budget-friendly, cloud is no more confined to the bigger players only, as small enterprises and start-ups too can leverage the potential of cloud technology.
SaaS HR Software Pros & Cons
Here is a rundown on a few important pointers that prove why SaaS HR software is the next big thing and it’s time to enter the game.
Timesaving
Bid adieu to those heaps of spreadsheets for tracking and managing employee attendance. Also, no more sticky notes on your workstations. This is because SaaS-based HR software solutions with robust automation functionalities simplify the entire and cumbersome process of attendance and employee records management for HR personnel saving a great deal of time and efforts. Talk about improved efficiency and productivity of HR departments.
Budget-friendly & scalable
SaaS-based HR systems are scalable both in features and pricing, allowing you to build modules on top of each other as your process requirements grow and your budget permits. There is always a plan that suits your need best. You don’t have to invest in expensive hardware or other installations stuff or employ additional IT cre, since the vendors take care of everything right from installation to maintenance and from updates to support.
Easy to update
Cloud-based SaaS HR software saves HR managers from the irritating cycle of upgrading the systems every year or so. Once you buy a cloud-based software, you get rid of these cycles for good, since the vendor does it all for you leaving you in complete peace of mind.
Unified hub for all your HR data
One of the major reasons for the worldwide acceptance of cloud-based SaaS software solutions is that they offer a single and unified data hub for all your crucial HR data that can be pulled out with just a few clicks. So retrieving critical HR and payroll data is no more a daunting task even when on the go. Also, you get rid of duplicate entries.
No more compliance issues
Keeping abreast with the ever-changing tax updates on a legacy or in-house software is sure to invite human errors leading to further troubles. Nevertheless, this is not the case with cloud-based HR software, as it automates everything. All the action takes place behind the scenes leaving you worry-free.
Getting instant updates is one of the quintessential factors when making strategic and informed decisions. For instance, whether it is a change in labor or employment law or the rollout of a new tax policy, your HR department ought to be aware of the same at the earliest and this is where a cloud based payroll software comes to your rescue.
Intelligent reporting on the go
For a business to stay ahead, managers and CXOs need to have real-time and instant access to key business data and HR department is simply not an exception. SaaS HRM software steps in as the perfect resort here, since it offers the HR managers with intelligent and insightful reporting/analytics on the go to help make sound decisions. Be it attendance, performance, payroll, appraisals, etc., everything is available at fingertips. Streamlined workforce management at fingertips. For a full list of apps supporting this solution check out our list of top HR management software services.
Intuitive workforce management
Recruiting and retaining top talent are two biggest challenges for businesses. This calls for organized hiring campaigns, efficient internal communication and employee development. This is the reason why HR solution is not only purchased for improving the efficiency of HR department, as many businesses are getting it for improving employee engagement and communication. This is the reason why almost all SaaS HR solutions provide employee self service app, which provides the employees with outstanding liberty when it comes to checking their leave balance, downloading payslips, checking tax details, personal information, etc., on the go from their handheld devices. This is probably the biggest advantage of moving your HR operations to cloud, since you get unswerving and instant access to crucial HR data from any device, anywhere and at any time. Most importantly, employee self-service portal curbs the headache of maintaining paperwork to a great extent. On the other hand, employees can easily request for day offs, check their leave history, and update personal details, etc., without disturbing the HR department.
Bird’s-eye view of HR data
From payroll and salary to staff insurance to pension, SaaS HR solutions make all these key employee information in digital formats, which are readily accessible via cloud. Time to bid goodbye to payroll redundancies and inaccurate paychecks.
Conclusion
Having a SaaS cloud HR software can avert the pains endured when using a legacy or conventional HR tool. Moreover, as SaaS solutions are hosted on state-of-the-art and secured cloud platforms, data security is out of the question. It reduces downtime, which is the need of the hour for businesses to stay agile and lean in their operations these days.
Now that you are aware of why SaaS HR software is fast becoming the next big thing for businesses of all sizes, it is time to dive in and move your HR operations to the cloud for a streamlined, efficient and agile HR department.
However, before choosing a SaaS HR software, it is advisable to contact multiple vendors, ask for demos, check the benefits that the software has to offer for your business, security concerns, customer support, etc.
Last but not the least, make sure you find a vendor that you can rely upon and the one that can foster your business. Above all, SaaS HR software solutions have come as a great boon to HR personnel all over the world.
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