Benefits of PeopleSoft
This is a company that offers customer relationship management software and human resource management systems (HRMS) for financials, enterprise performance management, as well as manufacturing. For instance, they provide payroll software that enables companies to manage information such as promotions, transfers, salary changes, and termination.
1. Better payroll processing
Payroll tools are convenient since you can use them to enter earning, hours and deduction. In addition, calendars and drop-down boxes assist with relevant data entry. You can edit information and follow a systematic procedure for handling termination and new hires. The system can also help you avoid payroll mistakes, as it gives you a preview of the actual output.
2. Data security
PeopleSoft tools have now become poplar as they have better security features, which help to limit payroll access only to authorized personnel. Managers, on the other hand have the authority right to change, view and improve data in relevant modules. By setting up control passwords and user names, you never have to worry about information breach.
3. Update personal information
The payroll system has a self-service tool that allows managers to update employee’s personal information like phone number, bank account and address. The best thing is that employees enjoy privacy of their information, which can help to reduce the time to request for data.
4. Automated payroll processing
Businesses now have the opportunity to do away with physical timekeeping records, since automated payroll systems help to calculate attendance information to eliminate errors and ensure accurate computation. A streamlined payroll procedure will save the company’s time and money.
5. Better data integration
Since the software package stores the payroll information in one database, it becomes easy to integrate it with Human resource information. PeopleSoft package also allow company’s to integrate payroll information with online accounting tools.
Although PeopleSoft software is useful in regards to handling the payroll process, it is time consuming.