HRMS stands for Human Resource Management System. While very few HR experts agree on an exact definition of what HRMS is and what its capabilities are, it’s generally acknowledged that HRMS covers a huge – if not total – range of HR concepts and strategies.
HRMS Software, then, is a comprehensive HR program capable of delivering everything from recruiting and training assistance to salary and benefit planning, analytics, payroll, and performance statistics.
Is HRMS different from HCM or HRIS?
HCM (Human Capital Management) and HRIS (Human ResourceInformation System) are rough subsets of HRMS. An HRIS will generally cover core HR, compensation, benefits and reporting, while an HCM solution will include all of the above plus a strong talent management system and offshore support tools.
Every HRMS vendor will have a different idea of what to include in their software offer. When in doubt, call to verify that a specificHR tool is integrated into the system.
What are the benefits of having all HR functions on one platform?
HRMS software doesn’t just keep your HR tools all in one place, it also facilitates data organization by merging all relevant HR information into a single database. Best of all, this consolidation of data isn’t just HR-wide, but company-wide as well. That allows management to provide stronger feedback during performance reviews. It gives a sales department immediate access to sales numbers, charts and graphs. And on top of that, any employee has access to the HR in order to request time off, check their schedules and see the results of PTO and benefits.
Is HRMS accessible via the cloud as a SaaS?
Yes it is. Not only is a cloud-based HRMS possible, it’s also a very popular option for businesses of every shape and size. It allows small and medium business to ramp up growth without requiring an immense amount of capital for new servers and IT personnel. Large companies are no longer forced to purchase and update outdatedHRMS software, since this is all done instantly on the cloud. Lastly, any company will benefit from the greater security, uptime, and mobility that a cloud-based HRMS has to offer.
Why does FinancialForce.com offer their HCM solution on the Salesforce1 platform?
FinancialForce.com has successfully helped businesses run their back office systems for years. Meanwhile, Salesforce has become one of the most respected and well-known names in CRM software to date. When paired together, businesses have the ability to create a cohesive and comprehensive software environment where customer service can interact with sales and any other departments of the company, all instantly and with real-time data sharing.