If we ask a company CEO what their largest expense is? A probable answer would be the PAYROLL. Payroll processing and People costs can be anywhere from 40 %to 70% of the total costs in any business.
This assumption is underpinned with real research findings, which indicates companies will focus on HR technology solutions that drives data-driven decisions in organizations. 57% of the respondents considered participated in research have stated they are planning to purchase HR technology platform, commonly known as HR Software or HRIS system in the coming 12 months.
Thus, research reveals a compelling story about the needs of companies, particularly the high-level strategic demand for HR software and its outcomes; managing employee records, payroll processing, performance management, recruitment and even deriving HR analytics. It is clear that senior management needs to have the tools available to make confident data-driven decisions. Additionally, CXO level would need greater HR technology support to equip employees with the knowledge and ability to execute strategic business goals.
Hence, performance management, learning management and HR Analytics are considered among top categories of HR software solutions/ HR technology likely to be invested by companies in the months to come.
Microimage HR software encompasses these 3 categories anticipated by organizations. Objective of our HRMS is to create cost benefits and business efficiency to organizations. We believe, a robust HRIS solution with the ability to manage overall HR functions as discussed above, will deliver the required level of efficiency in talent management and employee performance thus enabling companies to achieve their long term business goals.
Visit www.mihcm.com for more details on capitalizing on HRIS for better business results.