AI-powered business intelligence software is shaping the new business landscape. With all the possibilities these tools deliver we can notice an incredible change in analytical capacity, data management, and business automation. So how can software systems help you turbo-charge your business productivity?
Pain-free payroll processing
Every employee loves payday. But, payroll processing can be a tough chore both for small and medium-level enterprises. Even if you are managing payroll for a few employees, it might take you days to process tax and other statutory deductions, vacation days, overtime, benefits etc. Again, the legal ramifications – as a result of fines and lawsuits – can be hard to bear. But, using technology can help you with that.
That’s why many small and medium enterprises are investing in payroll outsourcing services. They gain time, cut costs and energy needed previously to understand complicated payroll systems.
Besides, the payroll processing system helps managers in a few ways. They track employee progress and evaluate employees’ performance. Depending on the immediate needs of the company and the employee data provided by the system, you can select and redirect an employee to a different department where they can be more productive.
Again, if there are any challenges that prevent employees from posting better performance, the software system can help managers review what’s happening. In the next step, they can identify the affected group and try to get rid of the impediment through offering additional training or better allocation of resources. Some of the software systems you might want to consider include Sage Payroll, BambooHR, ADP Vista HCM, Keka HR payroll Platform, GreytHR, Patriot Payroll, etc.
Gaining the best talents
The first impression counts. A potential employer meets your organization through the recruitment process. A horrid encounter will not only put off good talent, but it will also ruin the reputation of your brand. Results can be also visible in decreasing sales volumes in the long-term.
That is why organizations use recruitment software to help HR departments to manage different tasks. From the sourcing of candidates, scheduling interviews to hiring and onboarding new employees. Investing in recruitment software will not only give access to all employee tracking features. It also gives all the tools to make right hiring decisions.
Thanks to advancement in AI technology, your recruitment software will do all the dirty job for you. To name a few duties – evaluates thousands of resumes and gives you the list of candidates to invite for the interview. Thus, it ensures that you stay ahead of shortlisted applicants and hire top talents.
Besides, the recruitment software helps keep the candidates in the loop. It helps to keep the applicants updated throughout your recruitment process. For example, it helps you set up reminders you can use to follow up with candidates you have already interviewed. Again, it allows you to send emails to the applicants at every hiring stage. As a result, helps facilitate communication throughout the hiring process. Examples of recruitment software you might want to give a shot include BambooHR, Workable, Zoho Recruit, UltiPro, Vincere, Lever, etc.
Provides actionable business intelligence
Today’s business landscape is shifting from reactive (IT-led) analytics to proactive (business-led AI-powered analytics). As result, it has lead to the growth of business intelligence software systems.As such, business owners, executives, managers, and staff like the support, purchasing and the sales teams are increasingly using the BI software. Both for tactical and strategic planning tool.
In fact, it’s a huge market. IDC predicted the growth up to $187 billion in 2019. What are some of the benefits that are motivating companies to adopt BI intelligence tools?
1. Deep insight for growth
Every business wants access to real-time business intelligence. That will help them make better market analysis, get more sales opportunities and improve leads generation. BI tools help you combine different data models and relational databases with real-time data. You can process large amounts of data and provide actionable insights that will help identify growth areas.
2. Helps businesses address key issues
The right BI software gives you access to information that helps your business immediately address any crises that may arise. Thanks to the ad hoc reporting feature, you can easily input data that will help you generate actionable insights. Using the insights, you can make more data-supported decisions that would prevent escalating crisis into a disaster.
3. Offers immediate ground data
You won’t wait weeks or hours to process raw data, especially those on frontline departments like marketing, sales, and support. BI tools are equipped with powerful analytical tools. Your team obtains access to real-time ground data.
4. Gives you the big picture of your business
Business intelligence software systems use scorecards and dashboards features that give senior executives a bigger picture of your organization’s overall performance. As a result, key metrics can be customized to align with your key performance indicators (KPIs). It helps you manage the business in real time.
5. Availability anywhere, anytime
Today’s workplace is driven by the digital economy where most jobs can be performed from anywhere. Allowing your employees to work from where they want will make them more satisfied. As a result, it will improve productivity.
Some of popular business intelligence software in the market today include Sisense, GoodData, Looker, Tableau and Domo, Klipfolio, Engtics, and Artivatic.
Today’s business landscape is fluid and highly unpredictable. Thanks to advancement in technology, you don’t have to spend hours to outsmart your competitor and stay ahead of the game. Whether you are processing payroll, hiring new staff or simply want to optimize both internal and external business processes, the digital marketplace provides powerful software systems that can help turbo-charge your efforts.
About the author:
Nilam Oswal is a Software Analyst at SoftwareSuggest and she is fond of Gadgets! When she’s not at work, she can be found wandering, reading and just generally having a good time in life. She blogs about CRM, Lead Management and latest software updates.