Business Benefits of HR SaaSMenaItech
Software-as-a-Service (SaaS), also known as cloud-based software, is now mainstream. From small businesses to major corporations, cloud-based software is the default deployment method in 2020 for nearly every type of business technology in the world.
Easy to use and integrate, HR SaaS business applications delivered through the cloud or a web browser are very beneficial to a business’s HR department.
Supported by International Statistics
Fueled by SaaS, mobile apps, analytics, and vendors’ renewed interest in team-focused management, innovative HR platforms continue to transform HR as we know it.
- Global SaaS workload onloads are expected to reach 380 million by 2021.
- The annual growth rate of the SaaS market is 18% currently.
- The mobile SaaS market is set to reach 7.4% billion by 2021.
- 38% of companies say that they are running almost completely on SaaS.
- 73% of businesses plan to make all their systems SaaS by the end of 2020.
Modern and Easily Accessible
Most modern human resource management systems (HRMS) are SaaS solutions. Unlike traditional on-premise software delivery models, cloud deployments do not require extensive hardware. Instead, SaaS HR systems allow your HR team and employees to access their data and information accessed through the cloud.
Using an innovative and easy to navigate dashboard or mobile app, SaaS empowers your staff to access data regardless of their location. Using this modern platform, employees can submit their own timesheets, request time off, and communicate with their supervisors (among many other administrative processes). This, in turn, takes the burden off of your HR system and HR staff.
Increased Productivity & Less Paperwork
SaaS boosts productivity for managers and employees. According to a poll, HR managers currently spend 14 to 30 hours per week on manual tasks that could otherwise be automated. By implementing SaaS technology, HR professionals can automate mundane tasks. Using SaaS, HR staff no longer have to navigate various interfaces or search through paper files.
Cloud software eliminates paperwork, data redundancy, and human errors, paving the way for an efficient and environment-friendly HR management process. This allows managers and staff to focus on other responsibilities such as cultural initiatives, training and developing, and employee engagement projects.
Real-time Performance Assessments
One critical function of your HR department is to assess your employee performance. Previously, these assessments involved mountains of paperwork and required a great deal of time to gather data. SaaS HR allows employee performance to be tracked automatically and in real-time. Data analyses leverage built-in dashboards and reports and machine learning. Additionally, cloud HR solutions enable your HR team to seamlessly implement new systems and provide additional training in just a matter of hours.
Increased Employee Engagement
Without question, HR teams understand employee engagement is a critical source for competitive advantage. Employee engagement drives higher levels of customer satisfaction, encourages collaboration, propels interest from new applicants, improves business agility, and increases bottom-line profitability.
86% of businesses that use SaaS significantly experience relatively higher employee engagement. SaaS HR systems take advantage of big data and mobile technology to engage employees. For example, in just a matter of minutes, an HR team can send out a pulse survey to employees to collect feedback on how the company can serve them better. Cloud HR systems can also help track hours and manage employee benefits.
Instant Access to Benefits and Pay Information
SaaS HR software allows employees to access important information about their pay and benefits anytime, regardless of their location. Using a SaaS platform, they can quickly see how much of their salary goes to taxes, retirement, investments, and more. Additionally, an employee using a SaaS HR system can quickly establish direct deposit, change their health insurance, and more without help from an HR professional.
Seamlessly Scale HR Efficiencies
With increasingly unstable economic times, businesses need to be prepared for changes. SaaS allows businesses to create a scalable HR process where you can easily and quickly implement new features as your business grows and changes. Before SaaS, companies had to purchase expensive hardware in anticipation of business growth, incurring high costs. With cloud-based models, organizations can add to capacity during high workloads and remove capacity when the workload decreases, without any significant cost changes. For example, as your business grows and hires new employees, you may find the need to implement new training and development without the presence of HR. SaaS makes such additions seamless to integrate into your existing system via the cloud.
Safe, Secure & Reliable
SaaS HR systems provide a safe and secure platform to conveniently manage HR processes. The very nature of HR SaaS systems suggests high-grade security is a top organizational priority. The confidential and sensitive nature of the information HR vendors process and store is naturally a concern of customers. Therefore, SaaS HR systems provide robust data security, and they have back-up processes to ensure all data is safe and secure. Role-based access, combined with secure data encryption, also ensures the security of sensitive documents. Additionally, restrictions can dictate which employees are granted access to view or edit files and documents.
MenaITech Cloud Solutions
To stay competitive, and thanks to their low barrier to entry, accessibility, and scalability, organizations are looking to SaaS to streamline their HRMS. MenaITech specializes in software suites that cover every aspect of HR, including payroll, talent management, training and development, succession planning, and much more. Our HR and CRM cloud solutions empower organizations to conduct business anytime and anywhere in the world.
Are you interested in learning more about how cloud solutions can streamline your daily operations while simultaneously empowering your employees and managers to drive growth, productivity, and efficiency? Contact a member of our team to schedule your consultation today.