Tag Archives: HRIS

Expense Management Software

Few Telltale Symptoms Your Organization Needs an Expense Management Software

Managing your expenses is somewhere close to half of the battle in running a successful business. When you or your team members are on the road – or even just down at the local coffee shop – losing track of your expenses is very much easy. The need of the hour is a fully integrated system that handles everyday expenses effortlessly.  So, if your organisation happens to be suffering from one or more symptoms, it might be time to consider a different approach and consider buying an expense management software.

  1. Your monthly closing process leaves you frustrated or confused

There is always a scramble to track down outstanding charges, and you have no idea what else might be out there. Colleagues routinely surprise you with expense reports that are six months old or more, not realising that if you go more than a quarter out and the expenses are material enough, it requires some restatement of financials. Having to make those last minute adjustments just put the finance department further behind in the current quarter.

  1. Employees are still using paper receipts

Does everyone have the nagging feeling that there is still one big receipt lost in a pocket or at the bottom of a bag somewhere? Employees have to calendar time to do their expenses, a process that involves sitting down with their paper pile, and opening up three to four browser windows, one of them being excel. There is a tendency to procrastinate, since everyone has a more pressing business, but that just makes it harder to reconstruct past events.

  1. Employee-finance negotiations are common

Employees often have to make calls on the spot about spending money, without the policy there in front of them. If they go overboard, negotiations ensure. ‘Can I get this money back? If not, why not? If the answer isn’t satisfactory, there is complaining, escalations and then a lot of people get involved.

  1. The Finance team is not aware of the cost savings initiatives

Without good analytics or visibility into data from the previous quarter or year, the finance team comes out with blanket approaches, such as shutting off all non-essential travel. They are forced to take a sledgehammer approach to a problem that requires careful consideration.

Is your organisation suffering from one or more of these pain points? Well if your answer is yes, then it is time to consider an Expense Management Software. How you manage expenses has a huge impact on your organization. If you are worried about costs, remember that automated systems quickly pay for themselves with the time you save. For more information on Expense Management Software, checkout HR One.

5 Ways to Choose the Best HRMS Software for Your Business

2018 has already begun and the majority of key decision makers is contemplating as how to improve productivity, revenue and streamline key business processes like Payroll, Performance, Recruitment, Time Office and Workforce in the organization. To operate more strategically and smoothly, it’s vital to consider an HR Management solution that can fulfill your requirements. But where to begin? Selecting an HRMS comes down to understanding the key factors. Here are five ways to evaluate a new HRMS to make better business decisions.

#1 – Simple to Use Dashboard

It’s critical to invest in a central dashboard that provides you the immediate insights upon login and  provides a beautiful interface to view all relevant information. The ease of using dashboard provides a great relief to the manager and employees alike. The simple to use dashboard renders real-time information on critical areas like employee records, time and attendance, leave requests, recruitment,onboarding, and training with no clutter and greater ease.

#2 – Is the system cloud-based

Is your organization in the cloud yet? What we are referring to here is the cloud-based model that has   transformed the way organizations manage their HR functions today. Internal servers and filing cabinets won’t work anymore. Now, if you’d prefer to make your own decisions for your department, without adding extra cost of maintaining servers and other costing, the hosted “cloud” model may suit you the best. This option grants you access to the system from anywhere at any time, with complete security of your data.

#3 – Ongoing product update

Just as the needs of the organization and HR department evolve continually, likewise HRMS should be maintained with the latest updates for further improvisation. Scout for an HRMS software that talks about frequent updates and improvements. These are the signs of a software company that listens closely to their client needs plus has a sound team to keep things running smoothly.

#4 –  Support

In case there is ever a product issue, the one factor you would want to depend on is the technical support.

There is nothing more disheartening to know that your HRMS is not performing as per your expectations. So, before you scout for a software system, ask support related questions well in advance and evaluate how responsive the organization is.  

#5 – Ask for a Demo

Many companies may offer a free trial, but may not navigate your way to the entire system you want to discover. In this respect, ask the vendor if they can provide you with a custom demo to walk through your specific needs. A guided demo will allow you to pour down queries, schedule a meeting with decision makers in your organization and more.

As you start researching HRMS for your business, why not get in touch with HR-One experts to explore options suitable for your business.

4 Mistakes That Most of us do when choosing HRIS

Of all the software being installed in companies, Human Resource information System or better known as HRIS is becoming more and more popular. It drastically lowers the administrative burden, increases efficiency of work, drives productivity, maximizes the employees’ morale and leads to higher profits. The positive implications can be seen almost instantaneously once the software is installed. Consult the list of best HRIS Softwares in India and see them nod in agreement.

HRIS assists in managing the employee information, tracking job applicants, configuring insightful reporting and communicating and/or interfacing with myriad other business departments. These are the very features that attract companies, large and small. If the HR system is effective and addresses the company’s problem accurately, then it can reduce overall costs of the company, can allocate resources well and pre-empt a lot of problems by identifying them beforehand. These are all the things that the companies see and rush to install it. But it is important not to make mistakes in this rush. These are four common mistakes that usually the companies end up making. Taking precautionary and avoiding these mistakes will go a long way in ensuring the effectiveness of the HRIS.

1)      Not handling the change effectively

It’s no accident or coincidence that this one statement seems to crop up again and again when one is talking about new technology and its installation. A lot of companies have faced major issues with this phase. One may shell out as much money as they want without having second thoughts but if they don’t accept and handle the change well, you can watch the money go down the drain. Proper training and induction program by the experts is a must soon after the installation is done. Make the transition procedure for all the employees, even those who can handle the change well. Keep all the communication channels open during this time. Consider all the options that can possibly ease the change it can have on different individuals.

2)      Inability to define, validate and support Data Quality

Keep one thing in mind – best results come when there accurate and detailed information is given. One needs to define their goals and objectives very clearly; the information should be validated and reliable and should be of use. Futile and redundant information will disrupt the efficiency. One will make misinformed business decisions based on poor quality data, directly hampering the company and its customers. Cross-check every bit of information that is passed through and ensure it’s defined well and relevant. Refer the list of best HRIS Softwares in India who can assist you in the same. They will help you establish clear procedures that define and validate the data entry so that it is understood by everybody.

3)      Not administering data security

The importance of data security need not be emphasised. Companies opting for a cloud-based HR solution will find it to be pretty cost efficient but there are chances of a breach in cloud-stored data which is a serious issue. It can put the company, its share-holders and customers at risk. One should administer data security with utmost care. If it’s cloud-based software then look into all the security it’ll offer for data in transit and at rest. Don’t overlook the necessity of a strong internal security system like proper password management and controls, antivirus and malware detection/eradication, user education and internal network monitoring in additional to the cloud.

4)      Overlooking legal procedures and requirements

This is one mistake that most companies are bound to make. It is very important to understand that legal aspects that are associated with data, different processes and the structure of HRIS. A lot of trouble can be negated if the legal ramifications are kept in mind right from the beginning. This is because all the data that the HR possesses is accountable for ensuring the regulations set by the state. Consult with legal experts to keep your data safe, directly safeguarding your company’s interests too. Negotiate all the clauses that are involved, making sure you are not liable for anything later on.

Considering all these points before installing is mandatory and avoiding all these mistakes will save you a lot trouble later on. If there is one thing you don’t need to sweat on, then it is these problems. Companies like  HR One can lend you a helping hand to ease your worries.