Questions Business and Entrepreneurship

How can I choose the right HR Software for my business?

2 Answers Airtract Airtract Date Sorting

Airtract

meha ra

Tagline Not available

Every HR department needs to utilize software which meets the specific requirements of a company without overspending. Every organization is unique in nature, so there is no universal best hr software on the market. If you are struggling to find and choose the best HR software tools for your company, check out the following advice.

Evaluate Your Current Implementation

It is well known that when people start thinking about buying a product, the first thing they do is turn to Google. You may be reading this post because you hoped Google would tell you which HR software is the best. However, you will never find a ready-made solution for your enterprise if you have no clear view of the product you are looking for.

  “The first step you should take is to analyze your company’s needs and define the goals of new software usage.” Google can’t do that analysis for you.

Take a look at the HR technologies your organization currently uses. What are the major advantages and disadvantages of this system? Try to analyze the work of your HR department thoroughly and define not only the processes, which require automation, but also the areas that can be improved in other ways.

In fact, one person cannot cope with such a challenging task. So it’s a good idea to collaborate with your team members by:

  • .
  • Encouraging employees in your HR department to provide their ideas.
  • Asking workers from other departments about the issues they face when communicating with HR specialists.

In this way, you can build a list of all requirements to the new HR system and prioritize them. With this in mind, you can start screening the possible solutions online.

Key Features & Functionality

There is a great variety of HR software options on the market, so you shouldn’t hurry to make a choice. Every platform consists of a few modules and performs different sets of tasks. This list highlights some of the most popular features that will influence your final decision:

Unlimited Users

If you have a big company, you should make sure the HR software can be utilized by an unlimited number of users. There are some platforms which only provide access for a limited number of users.


Applicant Tracking System

This feature is important only for those organizations that hire regularly. An applicant tracking system, or ATS, automates the process of job posting and resume screening.

Performance Reviews

This feature shrinks the amount of paperwork and tracks the employee’s performance in a brand new way. HR analysts can create a development plan for every employee and monitor their progress throughout the year.

Benefits Administration

It’s a great idea to choose HR software with built-in benefits modules, which help manage employees’ health benefits, 401k retirement savings plans and whatever other benefits you provide.

Scheduling

If you work in an industry where most workers have flexible schedules, you urgently need this feature. Scheduling features will help your company design the optimal schedules that will drive work efficiency.

Payroll

This is one of the most important features. Payroll features help manage your employees’ salaries, bonuses, premiums and penalties.

Live Chat/Phone Support

When utilizing new software, it’s common for HR department employees to face some difficulties. Therefore, they will need to contact a service provider. If a chosen vendor has a 24/7 support center, it will be easy to solve the issues immediately.

Time Off Tracking

This tool helps employees request time off in a hassle-free way. The system tracks vacation and sick days automatically.

Additional Considerations

When you know what kinds of features your future HR software should have, you can narrow down vendors to between four to six possible options. Before you make a final choice, you should consider the following important characteristics:

Cloud Storage

If your company is pretty small, there is no need to spend extra time and money on on-premise solutions. 

Scalability

If you expect your business to grow, you should ensure the system will be able to meet the increased workload. Otherwise, you will be forced to change HR software to keep up with the development pace.

Intuitive Interface

No one wants to spend valuable time learning how to use a new program. A user-friendly interface allows new employees to understand the basic principles of work in a short period of time.


Cybersecurity

Software should securely protect collected data from any cyber attacks. Otherwise, it will endanger both your business as a whole and your employees as individuals.

Training or Tutorials

If your company wants to implement HR software that significantly differs from your current one, the new vendor should organize training for your employees. They can then learn the peculiarities of every feature in order to avoid any problems when using it in practice.

 explains: “HR software is an investment in the future of your company. If you have heard that a chosen provider had problems with the cybersecurity or wasn’t able to offer the adequate training to other clients, you should find another option.”

Estimate Your Budget

The cost of HR software varies a lot because of many factors, but it doesn’t mean that if you want to select the best solution, you should pay the highest price. Everything depends on the real needs of your company.

A baker spends $1500 dollars on a professional mixer because he wants a reliable appliance that will cope with the workload. A young mother spends $150 because she will use a mixer only one to three times per month to bake sweets for her child. Just like in this example, you should evaluate the goals and resources of your company to make the right choice.

You spend money on HR software in order to cut costs, so be careful and don’t overspend your budget on system incorporation. Otherwise, your efforts will bring zero results. Take a look at the emerging cloud technologies which offer low-cost solutions.”

Make a Final Decision

Finally, when you have selected your best-fit HR software, check the references of the recent clients. This is a great way to protect your company from any unexpected issues connected with the system functionality.

When software providers offer a demo, you should test it in every way possible. You have a very short period of time to identify the system disadvantages and identify any bugs. Ask your team members to express their opinions about the software and decide whether it is worth the price you are going to pay.

Christopher Mercer, founder ofcitation, advises: “Don’t hesitate to ask questionsAdvantages of Using Accounting Software

#1. Access Accounting Data Any Time, Anywhere

The most obvious advantage that cloud accounting software has over any traditional accounting software in singapore_malaysia is that computerized accounting software lets you access your data whenever you want, and from whichever device you want.

You can use online accounting software from your PC, laptop, tablet, and mobile phone. All you need is a device that’s connected to the internet and a browser (or mobile app).

For businesses of any size, this has a ton of upsides. For example, you can create and send invoices on the go directly from your mobile.

Or you can generate, view, and download financial statements and reports with just a few clicks.

No need to ask your accountant to prepare it three days ahead. Just log on the platform, navigate to your Financial Reports section, and download the financial statement you need.

#2. Easier Collaboration

Cloud accounting software makes collaboration as easy as 1-2-3.

Remember the times when you had to make changes to a spreadsheet, save it on a USB drive and then give it to your colleagues so that they could also have the most up-to-date version of the financial statements?

Well, those times are long gone.

With cloud accounting software, one of the main advantages is that everyone gets access to real-time accounting and financial data. So all your employees have to do is log-in to the platform, and do what they need to do.

No bottlenecks, no time wasted.

Multiple users can work on the same accounting data in real-time, without ever getting in each-other’s way.

Additionally, online accounting software allows you to give different access levels to different users. This way you can tailor permissions based on the set of accounting or bookkeeping functions that a user needs to carry out.

#3. Save Time With Automation

A big chunk of the work an accountant or bookkeeper has to do on a daily basis is very manual and repetitive. For example:

  • Tracking transactions and creating respective journal entries? Repetitive.
  • Sending late payment reminders to your clients? Repetitive.

You get the point. Most steps of the accounting cycle can be automated. And that’s exactly what online accounting software does best.

For starters, you can automate journal entry creation. All you need to do is integrate your bank directly with your accounting software. This way, everytime you make or receive a payment, a journal entry is automatically created and mapped to the right accounts.

You can also automate things like financial reporting (e.g: create a report every X day of the month). Or you could even set up automated vendor payments.

Keep in mind though, that not all cloud accounting software offer the same degree of accounting automation. If you are looking for accounting software that excels at automation, 

#4. Improved Accounting Security

One of the biggest advantages of cloud-based accounting software, is that all of your accounting data is safely secured on the cloud.

This means that your data is covered under layers of high-end encryption algorithms, making it a lot safer than keeping it on the office shelf.

And the best part is that all of your data is synced at all times. So not only is it more secure, but it’s also fresh.

Just to give you a better idea, when businesses were using desktop-based accounting software, accounting data had to continuously be backed up. After all, the data was stored on a hard drive. And as you probably already know, hard drives are quite delicate. They can get destroyed, wiped, or simply get corrupted and become unusable.

As a result, businesses had to dedicate quite a bit of time to integrating accounting and accounting data into their disaster recovery plans. This in turn meant higher costs, and more time wasted.

With online accounting software, you’ll never have to worry about backing up your data - the system will do it for you.

#5. Improved Accounting & Bookkeeping Accuracy

With online accounting software, you can say goodbye to most of the typical accounting errors

Online accounting software will make sure that your accounting records are organized in a proper and accurate manner, every single time.

Remember the times when you’d waste 5 hours trying to find why the balance sheet did not balance?

Well, you can kiss those times goodbye.

When using cloud accounting software, if newly created journal entries don’t balance, the system will notify you immediately and highlight the potential error. This way, you’ll be alerted of the error before even committing to it (i.e: clicking submit).

And this is just a very simple example of how accounting software can help you maintain more accurate accounting and financial data for your business.

Another common accounting error you can avoid by using accounting software is any error related to the freshness of the data. Imagine you are editing a spreadsheet or a table that has already been changed before, but you never received the updated version?

Figuring out how to merge changes from two different files can be really time consuming. But with online accounting software, you won’t ever have to deal with such problems, because all the data is synced in the cloud.

All in all, using online accounting software will ensure that your accounting records are properly and accurately organized. As such, your financial reports will be more accurate, and your team will be able to make decisions faster and prioritize better.

#6. Real-time Reporting

Real-time tracking and reporting is likely one of the top advantages of accounting software.

To track your accounting data in real-time, all you have to do is integrate your online accounting software with your business bank accounts and you’ll be able to track things like expenses, sales, and inventory in real-time.

Accounting software provides you with a dedicated dashboard (like the one in the screenshot below) that allows you to track all the accounts and metrics that you want to keep track of.

No more wasting time waiting for something as simple as bank reconciliation. With online accounting software you can do a bank reconciliation in just a few simple steps.

#7. Reduce Costs & Save Money

You might be asking yourself, how does paid software help my business save money?

The answer is simple.

Using online accounting software will save your business on average, around 300 hours a year. This takes into consideration time wasted on things like doing repetitive tasks, fixing accounting errors, creating financial reports, and so on.

And since online accounting software typically costs only between $9 and $50 a month per user, it basically pays for itself, tenfold.

When compared to ERP software, which can cost over $10,000 a month, using online accounting software is undoubtedly the best and most affordable way to do accounting for small business

#8. Reduce Paperwork And Improve Sustainability

In 2021, no one likes to deal with paperwork.

Dealing with paperwork is extremely time-consuming and expensive. Why make a photocopy, when you can simply create a copy with a click?

The advantage of using accounting software is that all the financial data including journal entries, financial statements, and reports is online. Whatever invoice, record, or entry is created, it is all stored under layers of encryption in the cloud. Easily accessible by anyone that has the right permission.

Additionally, you can also create and send invoices directly from the software to your clients, reducing the time and money wasted on printing and posting the invoices, while also speeding up the process of getting paid.

#9. Improved Invoicing

Creating an invoice is one of those accounting tasks that every business has to do, regardless of its size or industry. And while it’s true that the invoice type will differ based on the type of sale, the process of making an invoices  is more or less the same.

Before, people used to, Word, or even by hand. The result was usually a badly formatted invoice, which would probably take several minutes to create.

Now, if you are a business that only creates 5 invoices a month, this isn’t a big issue. However, if you are creating 100+ invoices every month, some of which are recurring, doing it by hand would be a disaster.

With cloud-based accounting software, you can make a professional business invoice using one of the premade templates in a matter of seconds.

You can also build your own invoice template, customize it, and apply it to all of your invoices.

And creating a recurring monthly invoice? You guessed it. It just takes a click to turn a one-time invoice into a recurring invoice. It’s that simple!

Once you have created your invoice, you can send it directly using the accounting software. All you have to do is insert your client’s email and click send.

And if your customers or clients are delaying your invoice payment you can send them a late payment reminder with just a couple of clicks.

#10. Simplified Tax Compliance

One of the main benefits of using accounting software is that it helps with tax compliance.

Let’s face it, no business owner likes to deal with taxes. That’s where accounting software comes in.

By having accurate accounting records, up-to-date financial statements and reports, gathering the documents and information required for filing taxes is super simple.

Additionally, advanced online accounting software like Cloud accounting (or online accounting) has all the same functionality as desktop accounting, but moves the whole process to the cloud and expands upon it.If you are looking for the best cloud accounting software of 2021 then you will need to stick with http://sinfosysaccounting.com without any second thoughts. When you will start exploring the options in cloud accounting then you will stumble upon many options as the market of cloud accounting is crowded. But you should know that if you are running a small or medium sized business then sticking with http://sinfosysaccounting.com will be the best option., has inbuilt tax rules, allowing you to focus on growing your business, instead of worrying about dealing with the IRS.

All you have to do is select your country, enter your business information, and Deskera will automatically apply taxes to invoices and other documents, based on your local tax rules.

Deskera provides full inbuilt tax compliance for the following countries: USA, Singapore, India, Malaysia, Philippines, and Indonesia (Australia, Canada, and Japan - coming soon).

If your business is located in a country other than the ones listed above, Deskera allows you to create and add custom tax rates based on your country.


Best Online Accounting Software Features (You Should Look For)

A top online accounting software should provide you with at least the following essential features:

  • Ability to access your data from any device, at any time.
  • Simple and intuitive user interface.
  • Manage accounts receivable. Create and send invoices directly from your accounting software, without needing to print it.
  • Invoice templates to make invoicing as easy as possible.
  • Automatic invoicing.
  • Manage accounts payable. Deal with things like purchase orders, , or even scheduling automatic vendor payments.
  • Integration with your business bank accounts to automate things like expense tracking, journal entry creation, and so on.
  • Easy bank account reconciliation.
  • Inventory management and tracking.
  • Ability to easily create financial reports at any point of time.
  • Dashboard that visually summarizes accounting data.
  • Multi-currency support.
  • Automatic tax calculation and compliance.
  • Track dropship orders.
  • And more!
  • Cloud accounting (or online accounting) has all the same functionality as desktop accounting, but moves the whole process to the cloud and expands upon it.If you are looking for the best cloud accounting software of 2021 then you will need to stick with http://sinfosysaccounting.com without any second thoughts. When you will start exploring the options in cloud accounting then you will stumble upon many options as the market of cloud accounting is crowded. But you should know that if you are running a small or medium sized business then sticking with http://sinfosysaccounting.com will be the best option.

Airtract

seema Varma

Tagline Not available

HR software is a digital platform that allows businesses to manage key tasks and processes relating to managing employees. It supports the team in carrying out these activities, adding automation to what are otherwise time-consuming and labor-intensive processes. Typically, these processes involve a lot of paperwork and manual record-keeping.


Key Features & Functionality


There is a great variety of HR software options on the market, so you shouldn’t hurry to make a choice. Every platform consists of a few modules and performs different sets of tasks. 


Unlimited Users

If you have a big company, you should make sure the HR software can be utilized by an unlimited number of users. There are some platforms which only provide access for a limited number of users.


Applicant Tracking System

This feature is important only for those organizations that hire regularly. An applicant tracking system, or ATS, automates the process of job posting and resume screening.


Performance Reviews

This feature shrinks the amount of paperwork and tracks the employee’s performance in a brand new way. HR analysts can create a development plan for every employee and monitor their progress throughout the year.


Scheduling

If you work in an industry where most workers have flexible schedules, you urgently need this feature. Scheduling features will help your company design the optimal schedules that will drive work efficiency.


Payroll

This is one of the most important features. Payroll features help manage your employees’ salaries, bonuses, premiums and penalties.



If you want to confuse to choose right software for you business, go with Technologycounter. Technologycounter listed on many HR software for SMEs. They help to choose better option for your business with software features, price quotes, comparison, customer reviews and much more.

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