In the era of technology, cloud software enables an organization to achieve economies of scale and use resources flexibly through computing services like database, server, storage, networking, intelligence, analytics, and software. One such cloud-based software solution for human resource management is Facto HR. Human resource management is a strategic approach meant to gain a competitive edge for the business through effective management of people. This software is designed on HR platforms and is perfect for streamlining the HR functions of all companies starting from SMEs to large corporations. With an exposure of 13+ years in the HR domain, the software is crafted to provide end to end solutions from hire to retire.
These 5 reasons are worth enough for a business to use Facto HR.
Self onboarding: When a company onboard an employee in the correct way, the self onboarding module of Facto HR allows an active engagement and best performance on the part of the company. Self-induction becomes convenient through the given procedures in the software, so as to make new employees familiar with the company policy. The onboarding module in the software is so easy to learn that the first day of the employee becomes impressive as it includes no intricate paper works. The documents are further stored, and the company gets secured access to it. Moreover, the assets of the company allocated to an employee are easily managed with the asset allocation feature.
Payroll Processing and Travel Expense Management: The payroll process can be gratifying with unconventional features integrated into the Facto HR software that allows a company to flourish and scale their needs from time to time. Some of these empowering features are onboarding, attendance, leave, performances, and travel expenses to calculate the payroll effortlessly. The most complicated payroll computation can be resolved to a simplified one using this software. The statutory compliances like DA, TA, and other taxes can be calculated with its automated set-up. The unlimited pay-heads and parameters are enabled for calculating the salary, bonus, loan, over time, other variable or fixed pays based on performance and statutory compliances.
Companies can additionally implement policies on travel expenses based on branches, location, and hierarchical conditions. Integration of smart receipts and geo-tracking makes this software travel orientated and minimize the work of employees, HR and accounts department. The multi-level workflow approval makes it possible. The process of settlement becomes transparent and swift with reimbursement application. Through OCR, digital receipts can be easily fetched by keeping away the tedious paper works.
Performance Management: Through Facto HR companies can measure performances through Key Responsible Areas (KRA) and Key Performance Indicators (KPI) for various filters like branches, locations, departments, individual employees, categories, etc. The entire timeline also guides to determine appraisal for individuals by their work productivity and performances. In between the company can also review the performances based on different review cycles like daily, weekly, monthly, quarterly, semi-annually, annually, etc. Provisions like the assessment of team weakness allow uplifting the performance for task achievement. In a configurable performance management companies can manage and measure employee objectives, goals, and work efficiency. Read Also:
Attendance and Leave Management: Real-time attendance tracking is possible through attendance is taken on geo-punch, biometric, or mobile. It allows the elimination of payroll errors through the integration of any attendance devices with the payroll module. Time theft that hampers the productivity in an organization can also be detected, and steps can be initiated correspondingly. Besides, employees can get the benefits of multiple shifts with an effective time record. Overall, with Facto HR software management specifies the attendance policy like week offs, overtime calculations and multiple shifts as per company’s norms.
Likewise, the leave management features allow configuring a company’s leave policy to track and manage employee’s leave. Accurate data of leave transactions can be obtained through a multi-level approval workflow. This streamlines the leave approval through fast execution and efficient leave management. The intelligent processing helps in auto calculation of leave balance and leave encashment. Through leave calendar employees can take a quick glance to receive leave application.
Human Resource Management: Now, companies can design the payroll and other HR functions through the streamlined yet configurable automated system of Factor HR software. There are opportunities to align each and every policy of the company procedure with this software. Get rid of the tiring manual and unproductive tasks and stay relevant to the core task with the help of automated HRMS. Management Information System (MIS) like forms, organizational hierarchies, personalized dashboards and HRIS reports, etc can be managed systematically. Ultimately, through the HRMS, organizations can eliminate the unnecessary workforce and reduce the cost of the HR department.
The digital revolution has obsolete the use of paper mechanisms and prunes down time consumption through faster and reliable methodologies. The cloud-based software Factor HR is one such boon of technology that can be seamlessly integrated into the existing services of an organization. Earlier it was challenging to channelize the complex HR operations, but with Factor HR, an organization can unequivocally make the functioning much simpler and upgrade the productivity. Availability on android and iOs platforms makes it easier for the employees also, to get instant access to their payslips, PF balance, company documents, GPS based attendance, check and avail leaves and apply for reimbursements.
Irrespective of any size and category a company belongs to, this software incorporates all the features of Human resource management and payroll.