How Does HR ERP Software Improve Staffing and Recruiting Techniques?

How Does HR ERP Software Improve Staffing and Recruiting Techniques?

All things digital we keep on hearing over and over again, and recruiting and staffing isn’t any different. Recruitment can be a long process, which requires relationship building with clients and candidates. Despite, staffing firms adapting to the digital space, building these relationships can be a difficult task to do in an online environment. Recruitment firms and human resource professionals typically use platforms such as LinkedIn, online job postings, and online conferences as methods to connect and reach more clients and job seekers as this is a business challenge that is overlooked.

Human capital management (HCM), is the process and strategy of identifying, hiring, then training and retaining as needed. It is a continuous process that needs to be adjusted according to changing business environment. Having software that can offer support in sourcing, recruitment, hiring, and retaining will allow the process to be seamless. The software can also make manual tasks a thing of the past especially when handling tasks such as sorting resumes and coordinating interviews. Having a supporting ERP software also helps to remove any biases through automated pre-screening by filtering with keywords.

Innovations in technology allow human resources managers to leverage evaluation tools such as advanced intelligence to ease the recruitment process. Tools used in the recruitment process by a staffing agency typically include video interviews, and filtering candidates. Even sourcing, job offers, and onboarding can be more seamless and create an overall better user experience for business leaders and prospective employees. ERP cloud deployment can greatly help to hire and retain employees and be used as a catalyst for annual growth rates.

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NetSuite for Recruitment and Staffing

When it comes to HR-related recruitment and staffing expenses, they make up one of the largest financial investments for companies of any size. Having an integrated HR software solution provides various software applications that can organize your data while helping you to track progress for reports. Track and monitor with ease vital recruiting KPIs that can be used to measure and highlight business performance with real-time dashboards.

Benefits of HR software

As mentioned technology offers new solutions and ease of processing tasks. Administrative tools such as NetSuite can ease data collections which enable human resources professionals to optimize their time and leverage the software to engage the potential workforce.

The benefits include:

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Efficiency and productivity: When it comes to recruitment and staffing, about 80% of organizations utilize HR software to facilitate research and information gathering. There is a significant productivity boost when using NetSuite ERP in talent sourcing and retention. This type of efficiency allows more free time for HR professionals to engage in more value-adding projects.

Employee experience/ accessibility: In the last few years workplaces have seen a decline in workplace engagement. Much of this is due to the new norms introduced by the pandemic. It has been one of the largest declines in employee engagement, especially among managerial positions. Mostly seen in those that were working remotely. With tools, ERP tools implemented HR workers have used NetSuite type software to play a role in enhancing the employee experience. Some examples include measuring engagement through surveys, connecting with employees through mobile accessibility. NetSuite for HR helps to improve the overall employee experience.

Employee development/retention: Talent management tools are the biggest investment for recruitment agencies. Functionalities such as recruiting onboarding and performance management can alieve workforce management when it comes to the overall recruitment process. On average it takes about a $4219 investment to hire a new employee, and the process to find the right candidate takes about 42 days. Retention also plays a big role in recruitment, keeping an employee is just as important. This means onboarding processes and the employee and recruitment experience are crucial when considering ERP software support.

Metrics: According to Oracle, studies show that particular HR business processes are overtaking those of finance, in areas such as analytics-driven functions. Access to accurate metrics for data analysis is critical for human resources management, compliance risk management and to bring improvements to employee engagement and conditions of employment. HR teams and recruitment officers use data to help to ensure that future workforce plans can predict employment turnover specifically in critical roles. Obtaining easy access to data can also be viewed in real-time which helps businesses to make connections to business goals and requirements. Furthermore, another advantage of HR cloud software such as NetSuite is the cost savings that occur when tracking recruiting costs. Metrics can be utilized to tie in costs to the quality of hire. Metrics such as time to hire, cost per hire, and even voluntary and involuntary turnover can be of assistance in the overall recruitment experience.

Regulatory compliance: A business owner must always be aware of local and national regulations. Human resources managers must ensure that the business is complying with regulations, this is the main task that their role requires. HR business functions must now take into account HR violations that can occur through security breaches to entirely new models of changes to labor laws, especially now during the pandemic. Most organizations report that business challenges have resulted in successful compliance monitoring with the support of NetSuite ERP software.

Data security: Business requirements that appear in recruitment agency settings have much to do with data security and the internal communications teams. They must ensure that security policies are relevant and kept up to date in the event that there are phishing or email scams attached to company emails. NetSuite provides role-based access and rules, this means that on the human resources management side the system will guard against unauthorized access to employee data. Some of the most common and costly causes of breach stem from stolen or compromised employee accounts.

Overall, you can see that data is a critical factor when it comes to workforce management and everything involving HR responsibilities. Human resources professionals now have a more versatile role in companies that would benefit greatly from the implementation of NetSuite cloud ERP. Utilizing a central database to organize their tasks and responsibilities will make the staffing and recruitment processes productive and seamless.

Top 3 Benefits of Implementing NetSuite for SaaS Businesses

Top 3 Benefits of Implementing NetSuite for SaaS Businesses

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SaaS, short for software as a service is basically an element of cloud computing. It encompasses businesses of all types from various different industries. SaaS businesses are changing the way organizations work. The introduction of new work norms such as remote or hybrid working models makes SaaS businesses appealing as they can offer niche services such as an instant messaging platform, which can be accessed through applications or online browsers on any device. Other types of SaaS businesses include video & music streaming platforms, or even SaaS marketing automation platforms. In this post, we will explore the benefits of NetSuite ERP for SaaS businesses.

What is a SaaS Company?

As previously mentioned, SaaS businesses are one element of cloud computing. It offers a service in the form of cloud-based software that maintains servers, databases and is accessible through web browsers from any device, including mobile devices, desktops, etc. SaaS businesses typically are involved in the creation and development process while also hosting and updating the product internally. SaaS businesses are unique in the methods they are able to use to distribute their products, there is unlimited access to the audiences they are able to reach and scale. Businesses that operate in this industry also use a subscription-based business model that is normally set monthly or annually.
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Challenges for Saas Businesses

Saas Businesses operate in all types of industries. From entertainment, communication, healthcare, and so on. Despise these businesses having an all-around system that operates their key business functions such as orders, subscriptions, HR, and customer data records, there is a lack of a complete stand-alone solution. This means that SaaS businesses must resort to a second system that manages accounting and financial management. Unfortunately, many SaaS businesses must opt for a disconnected system that is standalone and isn’t capable of integrations.

There is a demand for SaaS-specific software that will integrate the main product to a supporting platform that can manage financials and implement automation across different locations. SaaS providers must be flexible and have the capacity to cover the finances across different regions and currencies. A scalable solution that supports growth strategy is crucial for businesses looking to expand operations.

Why Saas Businesses Benefit from NetSuite, an Integrated Solution

SaaS businesses provide services that often already have their core business functions taken care of. This includes the management of the signup process, providing access to server and software tools, customer usage tracking, customer information database, and more. However, there are a few reasons why these businesses need additional support through the integration of NetSuite ERP.

SaaS businesses typically operate globally, as there does not have a tangible product and they are able to operate from anywhere as it is a service based on the cloud. Therefore, the businesses need to cater to all those users that are based in different regions and countries. This means billing must be offered in different currencies. Billing is also subscription-based and oftentimes based on usage. This is another reason where NetSuite ERP integration is beneficial. Based on customer usage data the ERP system may take on tasks such as invoicing and setting up recurring payments. Other areas where NetSuite ERP integration would support are automated financial consolidation, automated billing with tracking capabilities (such as price, customers, software products). A fully integrated solution that is available to display data in real-time and on the go, along with the ability to scale is crucial for SaaS businesses.

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NetSuite ERP Features for SaaS Businesses

Integrations

The integration abilities of NetSuite are probably one of the most important features that it can offer to SaaS businesses. As mentioned, SaaS businesses are capable to offer most of the core business functions within their internal system. Where they fall behind is the integration of the billing, invoicing and all financial matters of the business. NetSuite is highly flexible and can be integrated to work alongside internal customer information databases to take on automated recurring billing and management of global operations that may work with different currencies in different regions.

Billing and Invoice Management

NetSuite’s billing and invoice management solution offers automation of invoicing and billing tasks. Where business owners may manage entire subscription lifecycles, through modifying subscriptions, prorate billing, consolidating multiple charges on a single invoice, and auto-generate renewals that will improve customer retention and improve customer service. With a billing schedule feature, businesses may schedule for future, real-time, and back-dated invoices. Automate billing at the end of free trials or rate increases for when discounts expire. When the billing process is automated, invoicing becomes more accurate which in return, accelerates payments and improves cash flow. Consolidated billing creates trust and transparency among customers by stating every charge on an invoice. In addition, discounts drive returning customers and automated renewals. Working alongside accounting functions, recurring revenue can be automated and managed accurately and remain compliant to standards.

NetSuite OneWorld

NetSuite OneWorld can also be an add-in, which can manage operations across multiple locations easily. With this support business owners can eliminate the need to use multiple solutions and integrate NetSuite OneWorld is a specialized module that has global operations, it provides real-time data at all levels to ensure that executives have access to data at any time. Furthermore, NetSuite OneWorld can adjust for different currencies, languages, taxation, and legal compliance at local levels, and handle regional and global business consolidation.

Business as usual is a concept of the past. SaaS businesses are changing the way we operate and communicate within organizations. A software company has more than just its core business processes to take care of, a crucial component is the way that financials are handled. Such as billing & invoicing, and accounting & financials. A SaaS business can have a customer base potentially anywhere in the world which means that a management team would greatly benefit from an integrated solution to make their operations seamless.

Top 3 Trends that the Aviation Industry is Adopting

Top 3 Trends that the Aviation Industry is Adopting

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Aviation companies have recently begun adopting a wide range of new innovations for their aviation management and day operations. These innovations have to lead to picking up trends such as the adoption of data analysis, the Internet of Things, and automation. These trends have provided a source for aviation operations to enhance and work in a more efficient manner. These rising trends in the aviation industry can allow aircraft operations to benefit from ERP systems that will have the capacity to integrate real-time analytics and tools to manage different factors of aviation operations. The ERP system will act as mission control for business workflows such as sales, finance, inventory, and more.
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Data Analytics

Data analytics provides an aviation operation with insights that are generated daily, where airlines, airports, and other stakeholders can make improvements and decisions based on the data. These days there is an absence of standardization in an analytics platform. There are also issues in regards to scaling and combining data sources. A method that some operations have implemented is using their own isolated solutions which fails to look at the whole picture. There is a steady demand in having accurate and timely data for decisions that will enhance operations efficiency. Innovative ERP solutions such as NetSuite where delivery methods are seen through cloud computing. More aviation companies are switching to cloud-based systems vs on-site ERP. In addition, NetSuite can also provide customizations to products depending on the organization’s needs.

Internet of Things

The internet of things (IoT) involves a system of computer devices such as computers, laptops, smartphones, etc., that transfer data over a network. In a business sense, it supports smarter work processes with more control. IoT supports process automation, analysis and insights, and labor production, performance monitoring. Airlines use these processes often for real-time data reporting on engine status, or equipment conditions. The airline aviation industry is becoming more and more reliant on such systems in which ERP’s such as NetSuite can support.
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Automation

Automation with aircraft management consists of communication features, automated reporting, and the reduction of repeating tasks. When it comes to maintenance specifically, providers are trying to focus on the digitalization of software in order to facilitate tasks and improve productivity. Automated processes can include the creation of financial reports, purchase order automation, expense management, and more. Automated processes can aid in an increase of insights that can be provided to business leaders and minimize inefficiencies, errors, and compliance within their organization.

NetSuite ERP for the Aviation Industry

NetSuite ERP helps aviation companies integrate different departments of their operations, such as manufacturing management, human capital management, production, data interchange, management, and the entire supply chain. Whether you are a cargo plane managing inventory, an airline, or aviation manufacturing.
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Reporting & Analytics

NetSuite’s analytics and reporting functionalities ensure real-time reporting, searches, key performance indicators(KPIs), and dashboards that allow businesses to take actionable steps towards making strategic decisions and planning for the future.

Accounting & Financials

Accounting is a crucial part of all businesses. With NetSuite, you are able to have accounting processes along with capabilities that can easily perform finance and accounting functions with strong compliance in their practice. This will increase business performance and ensure accuracy, in turn, reducing back-office costs.

Real-time financial reporting is another added benefit with NetSuite, features such as revenue recognition to help companies to stick to compliant measures, with complex contracts.

The accounting tasks that can be managed through NetSuite include, general ledger, cash management, AR/AP, tax management, fixed assets management, and more!

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Fixed Asset Management

As mentioned fixed asset management is a component of accounting and finances, where with NetSuite’s support you can be aware of company-owned assets and leased assets along with depreciation costs and amortization schedules. In detailed asset reporting and seamless integration with the core accounting principles.

Resource management

Coordinate with resource management tools when crew rostering, scheduling, and assignment to duties and flights. This function can allow for better monitoring of flight duty times and flight time limitation control. Manage HR aspects such as crew salary, bonuses, additional expenses, documents, training, and vacations management all on a centralized workflow.
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Inventory & Fleet management

The aviation industry needs large capital to operate, that is why inventory management is one of the most crucial business functions. The goal is to reduce the amount of capital that can get tied up such as in excess inventory or when aircraft are due for maintenance.

In terms of inventory carried, NetSuite can track when items are received, held, sold, and in the case when aircraft are out for repairs. Keeping track of these situations allows for better real-time decision-making and coordination of inventory and fleets.

Fleet management also takes care of managing and coordinating aircraft types with databases that describe technical details, maintenance schedule, MEL (minimum equipment list), resource tracking,

These trends that are being adopted within the airline industry set the tone for what an ERP system for the industry requires to hit all the pain points. NetSuite ERP allows aviation leaders to gain complete insight and control of their operations. NetSuite can support the day-to-day processes that will create a seamless work operation, in an industry that needs much support.