The most valuable asset of any organization is the human resource; its efficiency is directly related to the sustainability and profitability of the business. However, the effective management of employees can be a challenge. To meet this challenge, the best solution is to have an ERP that already integrates HR and Payroll processes.
Having an enterprise resource planning software to assist with the management of human resources and payroll-related tasks is key to bringing value to the management of a company’s normal business activities. With this system, the organization can have better visibility into how workforce performance impacts financial performance.
Which are the benefits of an ERP that integrates HR and Payroll processes?
An ERP with functions for human resources and payroll management such as NetSuite can offer accurate and relevant information with the necessary characteristics for the proper functioning of the organizations and the improvement of their profitability.
With HR and Payroll processes integrated in an ERP, organizations can eliminate third-party integrations, create a better work experience, improve data precision, and make more informed decisions. Other benefits of having a 360 management system such as NetSuite ERP that supports these types of integrations include:
Improved team collaboration
A management system that integrates HR and Payroll processes generates a set of information gathered from a variety of sources that can be shared with all departments in the company. Data is available through a single point of access, therefore employees can view information about their payroll, work hours, deductions, benefits, etc., more quickly and easily. This type of system also ensures the accuracy of shared data, which improves overall results and makes it easier for different teams to work together.
Enable process automation that facilitates the work
An ERP software such as NetSuite, with integrations for human resources and payroll management, automatizes activities that require data entry or reporting. This enables accurate results to be obtained faster and with less effort. In addition, it optimizes time by preventing employees from spending valuable hours on irrelevant work such as manually gathering information from various sources.
Tracking absences and attendance compliance
ERPs with integrations of HR and Payroll processes provide a detailed description of the employee’s accrued and anticipated leave profiles. The system is capable of tracking workers’ leaves to simplify the way you handle their requests. In addition, it can help you accurately assess an employee’s effectiveness in terms of working hours, arrival, departure and overtime.
An ERP software such as NetSuite 360°, that has this type of integration helps to reduce human resources administrative costs, thanks to the optimization and automation of tasks. This, in turn, can drive a deeper engagement with employees and their commitment to the company.
If you want to take advantage of the multiple benefits offered by an ERP with integrations of HR and Payroll processes, at Fusionworks we can help you implement NetSuite ERP. Contact us!