Human resource management (HRM) is essential in all businesses. It encapsulates selection, recruitment and training processes and empowers employee development. Employees serve as the backbone of any successful organisation, hence, efficient HR operations should be in place to ensure a streamlined workflow and conducive working environment. With this ultimate goal in mind, more companies are now turning to enterprise resource planning (ERP) systems. ERP systems integrate all aspects of an organisation’s operations, including HR, finance, and operations, into one unified system. This article will share how ERP aids in human resource management, which in turn helps companies stay ahead of the competition in today’s fast-paced business environment.
1. Centralises database
ERP systems make it easier for HR teams to manage and track employee information in real-time, by centralising all employee data such as employee codes, attendance, leaves, and other important information. Thanks to this unified, up-to-date data, HR teams can quickly access information about employees, with reduced errors and greater accuracy. Moreover, HR teams can also use the data collected in ERP systems to generate reports and analytics, paving the way for trend analysis and effective decision-making process. Looking for ERP solutions in Singapore? Make sure you go to a reputable provider for professional advice prior to the implementation.
2. Talent Acquisition
Skills and training play a huge role in HR function. HR personnel are often required to identify potential candidates for new roles by evaluating the skills and certifications of potential employees. This process may be relatively time consuming due to the vast amount of information that requires assessing. With an ERP system in place, such procedures can be streamlined, enabling HR teams to manage training programs more effectively. The system can track each employee’s training progress and notify HR when training requirements are due. While Sage 300 cloud is a more specialised solution primarily prioritising financial and inventory management, ERP supports HR departments in the creation and management of employee training plans. By automating this process, HR departments can ensure that employees are receiving the necessary training to perform their job functions effectively.
3. Gathers employee performance feedback
Upon implementing ERP systems, HR teams can gather employee performance feedback by monitoring employee performance data, such as performance appraisals, timesheets, and other reviews. Beyond determining areas for improvement and allowing seamless planning of training programmes, this data can also help companies identify high-performing employees and reward them for their contributions.
4. Supports compliance
ERP systems can help HR personnel ensure compliance with labour laws and regulations. This prevents organisations from being imposed with penalties and fines due to law breaches. As a result, companies can avoid unnecessary legal costs, ensuring smooth operations at all times.
All in all, the power of ERP systems can help companies improve both the accuracy and efficiency of HR operations, enabling them to focus on what they do best, including the provision of exceptional products and services to their customers.
Acsolv Consult is a PSG pre-approved vendor in Singapore. We provide ERP, CRM and other services, as well as PSG grant accounting software. Looking to enhance financial efficiencies and improve business operations? Get in touch with us today to find out more about our offerings.