SaaS is expected to be the next big thing in 2022, and there is plenty of data to support this. A SaaS model for HR management in your firm makes it much easier and more automated.
SaaS Solutions can simplify your complex day-to-day HR operations.
However, there is a fine line of between ‘Payroll Software as a Service’ and ‘Payroll Service as a Software Solution’.
Before delving into the distinctions between Payroll Management Organizations and Payroll Management Platforms, let us consider the advantages of a SaaS approach.
What Are the Primary Advantages of HR SaaS?
- Rapid Program Deployment with Minimal Risk Mitigation
- Lower Initial Investment
- No Additional Hardware Requirement
- Reduced Internal Staffing Needs
- Excellent dependability, cloud security, and privacy settings that can be customized
- Increased Productivity/ROI with a Lower Total Cost of Ownership (TCO). i.e. less than Rs. 50/month per employee
- Increased Software Scalability to Meet Changing Business Requirements
- Faster Time to Value
Payroll Management Service as a Software Organization
A service provider uses software to deliver managed services such as payroll processing. The consumer pays for the service and has the full payroll management function outsourced.
This situation is similar to getting your clothes dry cleaned rather than doing it yourself.
The key distinction between your Payroll Consultant and “Service as a Software” is that the software intends to do most of the consultant’s work, eliminating the need for them.
However, the Service Model of external Payroll Management Organizations has some limitations, such as:
- Control Issues
- Concerns about data security and privacy
- Applications are limited.
- Requirement for Server Connectivity
Software as a Service Payroll Management Solutions
A service provider in this scenario provides you with access to a platform. Your HR Department can use the software to automate your essential HR procedures. You rent software instead of purchasing it.
It’s similar to renting a washing machine to do your laundry. You are responsible, but the machine makes the job easier than hand washing.
The Components of an Excellent SaaS Payroll Solution:
- Management of Recruitment and Onboarding
- Management of Leave and Attendance
- Portal for Employee Self-Service
- Management of Performance
- Graphical Reports that are Correct
- Strong Security
What About ConfluxHR’s All-In-One HRMS Platform?
ConfluxHR has been in this market for quite some time, providing the ideal answer for your business. We not only assist you in processing proper payroll each month but also aim to automate your core HR processes.
Performance management, onboarding management, exit process management, and leave and attendance management modules are built into our platform, using which you can seamlessly manage your employees.
With ConfluxHR, Say Goodbye to Tiresome HR processes, For Free*!