Every high-performing human resource department understands the importance of powerful HR software. But times have changed over the last few years in terms of tools and technologies. Instead of relying on outdated systems, many HR teams have made the switch to using cloud-based HR platforms. Why? Not only does it streamline tasks, but it can also make the team (and your company as a whole) more agile and successful.

But with so many different features to consider, it can be overwhelming to choose a tool that works for your specific company. To help, we’ll share a few useful cloud-based HR platforms and the exact benefits they can offer to your business!

What are Cloud-Based HR Platforms

Cloud-based HR platforms are not so different from traditional on-site systems. Both types of technologies give HR teams the tools needed for their day-to-day tasks. For example, that could include employee record management, payroll processing, and benefit administration.

But the key difference between the technologies is where the software is hosted. Cloud-based HR platforms are stored on remote servers, so they can be accessed from anywhere at any time. This is different from traditional systems, which are generally hosted on local servers.

4 Benefits of Using Cloud-Based HR Platforms

These are just a few of the many benefits of using cloud-based HR platforms:

1. They Can Be Accessed Remotely

One of the main reasons to switch to cloud-based HR platforms is for remote accessibility. That means you can log on to the software and work anywhere with an internet connection. Because the software is stored on the cloud, you aren’t required to be physically located at the office. You can work from home, from your favorite cafe, or even on vacation!

2. They’re Easy to Integrate with Other Tools

The best software should integrate easily with other types of platforms (accounting software, tax tools, business intelligence insights, etc.). Nowadays, you’ll find that most cloud-based HR platforms have built-in integrations with a variety of tools and services. This makes it easy to get up and running with other vital platforms your company needs for daily operations.

3. They’re Scalable

As your company grows, it’s important to have a platform that evolves with you. A cloud-based solution can be updated to support that growth – whether it’s adding new uses or upgrading to larger data storage. And most importantly, you won’t have to waste time or money overhauling your basic infrastructure in order to do so.

4. They Have Automated Updates

HR rules and regulations are constantly changing. But when you’re connected to the cloud, you can quickly stay on top of everything without needing manual research or updates. Most platforms perform automatic updates for new labor laws, tax filings, and even audit requirements, which saves you both time and money.

What to Consider When Choosing a Cloud-Based HR Platform

Now that you know the benefits of using cloud-based HR platforms, let’s discuss what to look for when choosing the right tool. With so many different tools out there, it’s crucial to consider the following criteria:

• Company size: Some tools are better suited for small businesses, while others are designed for large, enterprise clients. If your company plans on expanding in the next few years, you’ll also want a tool that can scale as you grow.
• Features: While many tools offer the same set of basic features, others may have unique assets your team may find valuable. Do some in-depth research to see what company or industry-specific features or add-ons the platform offers.
• Integration: Are there specific apps, tools, or technologies that your HR platform must integrate with? If so, make sure the software you choose has a built-in integration (or API that allows for access).
• Customer Support: While most cloud-based HR platforms run automatically, it’s a good idea to choose one with reliable customer support. That way, you’ll be able to have your questions answered (and your problems fixed) if something were to go wrong.

The Best Cloud-Based HR Platforms

Gusto

Focused on small to medium-sized businesses, Gusto is one of the most popular cloud-based HR platforms out there. Their all-in-one tool can handle everything from payroll and employee benefits to time attendance and tax filing (which they do automatically for you!).

As an added bonus, they even have a robust hiring and onboarding tool. You can easily write job posts, track your top applicants, and send out offer letters and onboarding documents. That means less time looking for talent and more time driving your business forward.

Paycor

Paycor is a powerful HR platform with a customer base of nearly 800,000 companies. It doesn’t matter if you’re a start-up of two employees or a business with more than 1,000 – Paycor is equipped to handle whatever you need.

Their tool is jam-packed with useful features that put traditional software and even other cloud-based platforms to shame. With Paycor, you can manage payroll, expenses, new talent, benefits, attendance, and scheduling (just to name a few).

NetSuite HRMS

NetSuite’s Human Resource Management System (HRMS) is another incredibly useful tool for managing your day-to-day responsibilities. With features aimed at reducing administrative time and costs, it’s practically made for growing businesses.

In addition to core features like payroll, benefits, and workforce management, NetSuite also has in-depth analytics and visuals to help with decision-making. This way, you can understand your KPIs and turnover trends while also seeing metrics drilled down by things like department and location.

Switch to Cloud-Based HR Platforms

HR employees have a lot to deal with on a day-to-day basis. But using cloud-based HR platforms can greatly reduce that burden by streamlining tasks and routine processes. Not to mention, it can also lead to significant long-term savings, which is a benefit all types of businesses will appreciate. Looking for other ways to save money on your internal operations? Here are the top 10 small business cost saving hacks to help you stay financially resilient as you grow!