CompLogix Blog

Staying Connected With A SaaS Compensation Solution

These days it seems like everything is connected. Not even ten years ago it seemed the only internet connection you needed was for your PC, which was the sole portal to the World Wide Web for most users. Now, however, we’re always in a state of constant connectedness. We have internet connections to our phones, our televisions, even our light bulbs and our cars. We’ve adapted to this rapid advance in interconnectivity adeptly, at least in terms of the consumer sphere. But what we may not have realized yet is the profound impact this interconnectivity can have in the business sector.

When planning and administering compensation, the process can be much more disorganized than you’d like. Waiting for unsecured emails of barely organized spreadsheet data to make its way up the approval chain, then manually inputting the data by hand can be a tedious process rife with errors. Instead of running compensation like it’s still 2005, isn’t it time to step into the future?

SaaS (software-as-a-service) compensation solutions utilize the advent of cloud computing to empower compensation managers and speed up the compensation process. Because it’s hosted in the cloud, the only requirement to access the system is a web browser – removing the need for expensive computer systems due to older software’s system requirements. It also means that managers can log in wherever – on their phones, tablets, or computers – and input data on their direct reports.

From there the automated approval process immediately notifies the next user on the approval chain, and audit tracking keeps tabs on who accessed the system, when they accessed it, and what changes they made. Real-time updating means that users can see the budgets they have to work with at-a-glance so they always know whether or not they’re within their guidelines. And software integration means that the compensation system can play nice with your existing performance management/HRIS software. And if you’d like it to, you can have it automatically generate compensation or total rewards statements.

SaaS compensation management systems can help your business take advantage of the ever-expanding technological advances which make our jobs – and our lives – much easier. If you’re part of a large, decentralized organization, and you’re finding the compensation process too time and labor-intensive, a SaaS system might be exactly what you need. If you’d like more information about Harvest HCM’s customized compensation solutions, please feel free to contact us for more information.

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