NetSuite human capital management (HCM) software simplifies hiring, employee information, performance monitoring, onboarding, payroll and compensations. Additionally, it permits personnel to request time off or recognize a peer for their hard work.
SuitePeople, built on the NetSuite unified cloud suite, maximizes efficiency by consolidating HR functionality into one platform. This provides businesses with a streamlined experience and superior employee engagement.
Streamlined Processes
Human capital management is an integral component of any business, as it allows the organization to efficiently manage its workforce. Furthermore, HRM helps boost employees’ productivity levels and their level of satisfaction with the company.
NetSuite SuitePeople HR securely synchronizes critical business data across the suite, giving you complete control over your human resource processes. It centralizes company info, payroll processing, onboarding new employees and compensation adjustments into one accessible location for easy access.
Additionally, employees can request time off, access directories and organization charts, monitor upcoming vacation schedules, and publicly recognize peers for exceptional work.
Furthermore, it can track and report on benefits like medical, pension, stock purchase plans and more. Automating all related activities such as enrollment, amendments, beneficiary changes and discontinuation of coverage are possible with this tool.
Streamlining HR processes can significantly reduce the workload for HR managers, freeing them up to focus on more strategic and important tasks.
Real-Time Reporting
Real-time reporting capabilities enable managers to detect trends and weaknesses within their business quickly, enabling them to make informed decisions. With these insights, they can decide whether to add resources, adjust budgets, or scrap a project altogether.
Managers have the capacity to identify high performers and those that might need additional support, providing resources or training as needed. Doing so not only boosts productivity and enhances business operations but also cuts costs.
Real-time data provides valuable insight into any errors that may occur during business operations, helping to minimize their effect. This is especially beneficial for companies operating in industries with rapid turnarounds or sudden shifts in demand.
Furthermore, data sharing between departments allows teams to stay abreast of key information. This guarantees that critical decision-making never gets put on hold due to a delay in information delivery.
Integrations with Other Applications
Integrating your HRIS tool with the rest of your tech stack allows data to flow in real-time from app to app without compromising its integrity. For instance, if you modify an employee’s address in payroll system, that information automatically updates their HRIS record as well.
Integrations can also help your HR department streamline their processes, eliminating the need for endless emails regarding employee address changes and pay statement requests. Furthermore, employees can quickly and easily access their compensation history as well as personal data from any device.
Companies across a range of industries have implemented application software integration to upgrade outdated processes and systems. By combining multiple top-of-the-line apps, businesses can maximize their investment while getting the results they require.
Security
NetSuite human capital management offers HR professionals and managers a more efficient way to onboard new hires, process payroll, monitor employee performance and administer the entire employee lifecycle. Furthermore, businesses can scale up their HCM capabilities in line with business expansion.
Security begins with strong encryption, role-based access controls and rigorous password policies. Additional layers of protection may include multi-factor authentication or application-only access.
Administrators can restrict access to a system to only specific IP addresses or devices that meet strict criteria, reducing the risk of hackers or other outsiders accessing sensitive data without authorization. This feature helps reduce security risks by limiting who can view sensitive information on a system.
NetSuite encrypts data so it is unreadable for anyone other than its intended recipient. Even if an attacker were to steal a laptop, they would be unable to read sensitive information without access to the decryption key.