ADOPTION OF SAAS-BASED HR SOLUTIONS IS THE KEY FOR AUTOMATING GLOBAL OFFICES
Rapid digitization and intelligent automation technologies are steadily reshaping a number of industries, both at the consumer and enterprise level, and their impact has been felt in the human capital management industry as well. Technology has had a significant impact in transforming the daily work of office administration. Emails have replaced hand-written memos, shared drives have done away with filing cabinets, and biometrics have taken over from timesheets. But going paperless is just the tip of the iceberg when it comes to attaining complete office automation.
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Why SaaS-based HR software are imperative for office automation?
Office automation is a different ball game altogether, and SaaS-based office automation solutions have emerged as the key for managing all aspects of human capital management. SaaS-based human resource applications offer a comprehensive suite of tools for tracking job applications, managing timesheets, employee benefits, payroll, recruitment, and employee performance, and even processing online forms. The best SaaS HR software can be customized to provide clients with flexible options with respect to workforce analytics, process design control and HR compliance management.
One of the key benefits of deploying a SaaS-based HR solution is their unique capability of significantly increasing the productivity of human resource personnel in an organization. HR software can seamlessly automate most of the functions that would normally require human intervention through self-service web interfaces. Tasks that previously required oversight of human resource personnel, such as verification of employees, processing of employment applications, and administering employee benefits, are effectively delivered in a self-service format with SaaS-based HR applications in a cloud computing environment.
SaaS-based HR applications also offer considerable cost savings when compared against the majority of on-premise HR software applications that are typically integrated into an organization’s ERP system. The cost of implementing legacy human resource software model can be simply too expensive to afford for a large number of small and medium-sized businesses. Hence, cost efficiency is a significant factor that makes SaaS-based human resource applications one of the most valuable office automation delivery model available in today’s marketplace. Organizations who deploy SaaS-based human resource management services on the cloud are favorable placed to avoid the towering capital investments associated with acquiring, deploying, maintaining, and replacing the traditional on-premise human resources management software.
How does the adoption trend of SaaS-based HR software looks like?
SaaS-based human resources management solutions offer a number of advantages over on-premise human resource management software for automating office administration. It is estimated that almost all major companies across the world have replaced or planning to replace their legacy on-premises systems with SaaS-based HR systems. Based on this increased adoption, the human capital management software segment of the global human capital management market accounted for 66.5% of the overall market revenue in 2018, according to Research On Global Markets. Pricing flexibility has been a key growth driver in software and has led to the paradigm shift from on-premises to SaaS-based HR software.