Top 5 Reasons To Integrate HRMS Software To Reduce Your HR Burden

Top 5 Reasons To Integrate HRMS Software To Reduce Your HR Burden

Are you using HRMS Software? Guess no. You have no idea how it will beneficial integrating HRMS Software in your present system and whether it is worth the cost or not. With no clarity on how it works and the advantages associated with HRMS Software – it seems like an alien concept to you. With companies adopting the newest technological changes to their HR and Payroll; you are still to upgrade.

Well, not surprising!! It’s just not you are left out to integrate HRMS Software, but there are many businesses including small and startups which are yet to implement automated HR systems. But that’s OK- Better late than never. However; it is also tough to take a call when it comes to HRMS Software Solutions; as market is literally swamped with best CLOUD HR software. Does it convince you now of implementing best cloud based HR system? If you are questioning the need for this type of integration best HRMS Software, here are top 5 reasons to consider it:

1. Say Bye To The Paperwork

2. Building Trust With Employees

3.  Get Maximum Returns From Your HR Department

4. Accuracy At Its Best

5. Decision Making Effectiveness

Benefits Of Integrating HRMS Software Into Your System

If you are keen to improve your workforce performance, it is important that you consider integrating HRMS software equipped with KEY MODULES, or else you may end up paying more hindering your organization’s productivity. Organizations that adopts to integrate HRMS Software from a expert Payroll & HR Software making company like Single Point HR, will be able enjoy below mentioned positive outcomes:

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Artificial Intelligence And Its Impact On The HR Service Industry

Artificial Intelligence And Its Impact On The HR Service Industry

Artificial Intelligence has arrived. Period!!! It is not the future we are talking, but it now and happening. The companies world-wide are encouraging to adopt Artificial Intelligence to free up their  human resource professionals so that they can focus better on more meaningful chores.  The web is swamped with lots of informative news, blogs, articles and news pieces on automation, machine learning and artificial intelligence taking over various industries. Today, AI – Artificial Intelligence is on the threshold of penetrating each and every segment from health-care to finance, legal, logistics, education including HR Service which isn’t a surprise anymore.

There is a fear in the industry especially those who are working in HR industry. With the increasing demand of AI and the kind of productivity and the result it is offering to the companies, there’s probably a point where you may be asking yourself in the near future that, “Is my job safe? Will it be taken away by a robot? For professional working as a recruiters it is less likely otherwise.

Before we move onto knowing how Artificial Intelligence will be impacting HR service, let’s have a brief understanding of 2 things that enabled the revolution of AI.

The Rising Of Artificial Intelligence Within The Industry

Artificial Intelligence evolved years back,  it’s just we are experiencing the advances of these machine learning. You may have already experienced the language processing between bots and humans in various forms like to explain with a simple example of Siri and Alexa. People are using Siri during driving, asking in helping with directions of the places they say. And Alexa has been favorite news supplier from Amazon that people can’t resist asking for their morning news.

Hence; when a natural language assistant is introduced to a specific company’s HR service workflow, and being optimized for that, the company/organization can take full advantage of the advances in machine learning to assist.

Conversational Interfaces – Homes For Intelligent Assistants

Today many companies are shifting from usual communication of emails to group messaging platforms. Group chats lets you have a real time communication and most importantly it makes it easy and hassle free than just going via from one email to another and again communicating in the same thread. It’s messy.

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SMEs Save At;east 20% Of Their Costs With ERP

SMEs Save At;east 20% Of Their Costs With ERP

How ERP Systems Reduce Costs & Improve Profits for SMEs…this is the burning question for most of SMEs widely asked on Google.

Small and medium-sized manufacturing businesses often face challenges with maintaining their position in the marketplace and need to overcome these before they can make more money. ERP systems -Enterprise Resource Planning have evolved from MRP software Material Requirements Planning to incorporate all the functions required in the management of manufacturing operations. ERP software is a simple and sustainable solution to increase productivity and streamline processes in a cost-effective way. An ERP system combines manufacturing management functions into one central place. This includes all aspects of the production process from initial quotations through to invoice payment.

It creates an organized work flow for your business and also incorporates other important functions such as employee performance monitoring and interlinked accountancy tools. Implementing the software can reduce administrative and operational costs as well as enhancing information sharing across your company. An ERP system which is powerfully integrated enables interactions of marketing, sales, quality control and many other areas. It eliminates the retyping errors as it would be in a single database. It integrates all departments and functions across a company in a single computer system that is able to serve all those different department’s particular needs.

It works to better integrate each division within the organization, helping it to function as one unified entity. Processes and transactions between different divisions are made smoother and faster and are less prone to human error. But this is not enough on its own – an organization’s agility and productivity also largely depends on how well it integrates with its whole ecosystem – its partners, suppliers, and customers. The more integrated the business is both internally and externally, the better it’s overall performance.

According to the report published by Aberdeen Group, the leading provider of fact-based research, an effective ERP system leads to these five benefits to SMEs:

  • 22% reduction in operating costs

  • 20% reduction in administrative costs

  • 17% inventory reductions (M&D only)

  • 19% improvement in complete and on-time delivery

  • 17% improvement in schedule compliance (M&D only)

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Get Instant Personal Loan Approvals In India At Lowest Interest Rates

Get Instant Personal Loan Approvals In India At Lowest Interest Rates

Get Instant Personal Loan… it’s an eye-catching offer that always grabs attention. There is an increasing numbers of consumers of India who prefers taking personal loans to cover various financial crunches. Furthermore; the personal loans help the households meet any shortfall they experience in buying a house or a car, in children’s higher education, or even in cases of medical contingencies, among other things. Therefore; getting an instant personal loan is not a big deal especially; when you have all the supporting documents in line. You can expect your loan disbursement in as quick as 24 hours.

Get Instant Personal Loan – Know For What Purposes?

Personal loans India are widely used for personal reasons. Consumers of India prefer taking them to fill in various fiscal gaps such as renovating home, marriage-related expenses, a family vacation, rental deposits, buying a vehicle,  child’s education, purchasing latest electronic gadgets or home appliances, meeting unexpected medical expenses or any other emergencies.

How Personal Loan Rate Of Interest Work?

To get instant personal loan; understand of how rate of interest of personal loans India are calculated. Banks have huge number of fixed deposits from their customers, balances in their respective account and so on. There has been a certain amount of payout offered on these fixed deposits. This payout is believed as a cost of capital for the banks. The banks lends at higher interest rate than their actual cost of capital accounting because; of the risk involved with the customers they are lending to. To explain in detail, for e.g. consider bank offering 8% on the fixed deposits you have it kept in their bank. Hence; bank will ideally like to make an addition of 6 – 8% on these deposits.  Therefore; have an interest rate of 16% for the consumers is not justified because the bank is not accounting for the company from where the borrower is employed, his/her salary and their past credit history. Therefore; you will find that no two banks will be offering same kind of rate of interest on personal loans in India.

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Key Highlights Of Union Budget 2018 – Arun Jaitley Addresses India

Key Highlights Of Union Budget 2018 – Arun Jaitley Addresses India

Widely anticipated; Budget 2018 was recently announced.  India’s Finance Minister Arun Jaitley presenting Union Budget 2018  in the Parliament. Furthermore; the budget is largely focused on uplift of agricultural sector, furthermore; with a push to healthcare and education sectors in the country. Budget 2018 touched key points during the discussion in the session, hence; re-enacting the Long-Term Capital Gains tax, hiking of custom duty, the healthcare scheme and not making changes to the personal income tax slabs. “Prime Minister Narendra Modi has given a clarion call to double farmers’ income by 2022, the 75th year of India’s independence,” Finance Minister Arun Jaitley said in parliament as he unveiled the Union Budget 2018 today. FM Arun Jaitley in his budget 2018 outlined various schemes to promote agriculture, organic farming, animal husbandry and fisheries, hence; it ensured that he was understood by people living in rural areas. Furthermore the minimum support price of all crops will be increased to at least 1.5 times of production cost.  He has also announced a health care scheme to cover 10 crore poor families, therefore; 50 crore beneficiaries will get Rs. 5 lakh per family per year. Hence; making the scheme the world’s largest government-funded healthcare programme said Mr Jaitley.

India’s budget 2018 aims to lift millions of rural farmers and workers out of poverty

The Key Highlights Of Union Budget 2018-2019

  • Budget 2018 – Agriculture Sector
  • Budget 2018- Tax Sector
  • Budget 2018 – HealthCare Sector
  • Budget 2018 – Custom Duties
  • Budget 2018 – Rural Sector
  • Budget 2018- Education Sector
  • Budget 2018 – Infrastructure

The Union Budget 2018-19 reflects the government’s commitment to digitalization for the country’s development, IT industry’s apex body. “The Budget therefore; reflects the government’s commitment to digitalization as a key force for the country’s development strategy. Hence; focusing on ‘ease of living’ will spur greater use and deployment of technology across verticals.

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Bitcoin Price Falls 40% Lower – Losing More Than Its Value

Bitcoin Price Falls 40% Lower – Losing More Than Its Value

The Bitcoin price has dropped to around A$8,000 in the last few days, after almost hitting A$10,000 in the past month, and rising over 1,850% since 2015. All of this shows how volatile the currency is, prompting the question, what is affecting Bitcoin price?

Bitcoin price has enjoyed a strong surge in support over the past few months, but a sudden drop could spell disaster. As the cryptocurrency surged from a price just under $1,000 in January up to nearly $20,000 in December, it feels like the good times could continue well into the new year. If people start panicking, though, it would be tough to get the money out in time. In case you didn’t know, all kinds of national currencies, such as US dollars, Euros, Japanese Yen are the actual monies/ currencies of various countries. So, generally speaking, Bitcoin is the first-ever money that is not controlled by any centralized entity, country, government or person.

Understanding The Functions Of Bitcoin?

Bitcoin has many uses and functions, but below are the salient ones to price fluctuations:

  • Payment Network – Bitcoin as a currency

  • Bitcoin Storage and Transfer – Bitcoin as a store of wealth and medium of value transmission

  • Exchange Rate – Bitcoin as a market instrument and commodity

How Does Bitcoin Payment Network Work?

Bitcoins are transacted on an ongoing basis and around the clock. At the time of writing an average of 62,000 Bitcoin transactions are conducted on a daily basis with an average volume of $50mil per day. Of course, transactions over the Bitcoin network do not directly affect the market price of Bitcoin. In the sense that an active Bitcoin network reflects a healthy protocol enjoying plenty of usage and demand, there is an indirect influence. Only where bitcoins interface with other currencies – at exchanges – is there a direct impact on the price of Bitcoin.

Understanding Of Buying A Bitcoin

Every bitcoin exchange transaction that involves the purchasing of bitcoin via another currency, whether fiat or cryptocurrency, has the effect of pushing the bitcoin price upward. Because the bitcoins are changing hands – from the exchange’s wallet to the buyer’s wallet; there is an accompanying Bitcoin network transaction. However; it is the exchange transaction that counts toward an up-tick in the Bitcoin exchange rate. Routine purchases are made daily, for various purposes, and typically increasing toward month-end through:

  • Company salaries

  • Wallet balance replenishment

  • Buy-and-Hold investment purchases

  • Incidental purchases destined for paying merchants

  • Purchases intended for transmission

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