The COVID-19 pandemic has resulted in lots of challenges. With the global lockdown to the remote working models, almost everyone has faced the challenges thrown by the pandemic.
However, there have been opportunities that have enabled business leverage on and drive profitable insights.
The rise in digitized business practices has changed the ways of doing business and has pushed almost every organization across the sectors to its limit and mandating the need for investing in digital technologies to drive business insights.
These days, businesses are complex and comprise several sub practices that form an integral part of business processes across the business units, including how the enterprises get performed.
HR and HR-related activities, too, are digitized.
From screening the CVs to onboarding the employees and taking care of their training and development procedures, almost all business activities are getting streamlined, doubles the significance of digitization in HR and HR-related activities.
According to recent research, the global HR market will reach USD 4 Billion by 2025.
The rise in HR practices that focus on cutting HR-related costs and streamlining the entire HR activities is fueling the market growth of the global HR market.
HR activities comprise several sub-business processes such as recruitment, staffing, talent management, training and development, and salaries.
All these sub-business processes get streamlined with ERP software, making ERP one of the most preferred IT products in HR.
ERP is a business management software that collects, stores, manages, interprets data from business activities, enforces processes, enables control mechanisms, and automates a range of activities.
When HR activities get digitized, HR processes’ efficiency increases, with a reduction in time and effort required.
As digitized business practices emerge, ERP, too, consists of a range of modules that serve different business areas.
Human resource management is one of them, and its digitization helps automate the tasks that take up most of this department’s time.
However, organizations often face a dilemma in choosing the best ERP vendor for their HR practices among several ERP product providers.
This makes the whole process cumbersome and makes businesses susceptible to investing in HR modules in ERP.
The below-discussed features of ERP make it one of the ideal solutions to deal with HR activities and streamline them effectively.
Managing employees’ data is essential for organizations to conduct smooth HR-related activities.
Crucial employee information gets stored in the repository as a significant part of the workforce’s data.
Managing payroll, expenses, claims remains one of the most significant HR-related activities.
It requires monitoring of payroll and the adjustments that may arise. Therefore, payroll and compensation management plays a vital role in HR-related activities, digitizing ERP software.
Streamlining the time and attendance of employees is a critical aspect of HR activities.
It tracks, manages, and monitors the check-in and check-out details, maintains a repository about employees’ leaves details, all in digitized format i=within a few clicks with ERP.
The training and development of employees are a crucial part of any organization.
When employees get on board, they get trained to carry out their jobs and responsibilities with utmost ease.
ERP eases this process and streamlines the training and development programs that enhance workforce efficiency.
Organizations design and develop recruitment processes of the company’s internal training programs.
ERP digitized processes help carry out selection processes, publish job offers and generate automated reports and KPI reports.
Also, ERPs in HR come with cloud solutions that help users access the information with any device from wherever they work.
Fox ERP is one of the ERP products in the market built on a sleek user interface and latest technologies, which helps businesses transform their business processes.
Fox ERP carries the HR activities with utmost ease, from attracting and retaining talent through Talent Acquisition Management to generating automated password-protected salary slips.
Its HR module consists of several HR activities that manage employee details, track and monitor their attendance, and configure salary structure and payroll processing, employees’ training, and development.
Furthermore, its “Do it Yourself” mode makes it user-friendly, requiring minor expertise.
Digitization is all around. Almost every industry across the sectors is undergoing digitization.
HR activities consist of several sub-activities of workforce management.
With Fox ERP, organizations enjoy streamlined and digitized business processes with utmost ease and drive actionable insights that contribute to the growth and prosperity of organizations.
The world has changed, and so have the ways of doing business. Since the emergence of the COVID-19 pandemic, we have seen an unprecedented shift in how organizations carry out their business processes.
It’s a world of emerging technologies, and organizations across industries are adopting them quickly. Supply chain operations, too, hold a significant share among organizations and businesses utilizing such technologies for their operations.
The times have changed, organizations have transformed their ways of doing business, and companies are shifting to an all-new digitized way of doing business.