PeopleSoft Human Resource Management System
PeopleSoft HRMS is the name used by a company peoplesoft, to describe the products that sustain the Human Resources and Payroll functions within an organization. PeopleSoft, Inc. was a company that provided human resource management systems (HRMS) and customer relationship management (CRM) software, as well as software solutions for manufacturing, financials, enterprise performance management, and student administration to large corporations, governments, and organizations. It existed as a self-governing corporation until its acquisition by Oracle Corporation in 2005. The PeopleSoft name and product line are at the present marketed by Oracle.
Initially PeopleSoft started by offering a group which consisted of three areas: Payroll, HR and Benefit Administration. However, the suite has grown to include other robust set of different HR-related applications and was later renamed as HCM for Human Capital Management to show the changing role of people within an organization.
This software package recommends a wide variety of business applications to assist in the day-to-day implementation and operation of business processes. Each of the individual applications, such as Financials, Customer Relationship Management and Human Resources, work together with others to put forward an effective and efficient means of working and reporting in an integrated way across the organization.
There are many benefits of using HRMS software especially a peoplesoft.
PeopleSoft Human Resources converts HR practices from administrative to strategic one. It unites all the business processes, automates general administrative tasks, and leverages industry finest practices to facilitate strategic management, along with efficient administration. Peoplesoft HRMS carries out comprehensive HR capabilities, from personnel management to reimbursement and talent management. Extensive business process automation and rich self-service capabilities free HR teams to perform value-added services whereas reducing operational costs. It also creates an enterprise-wide human resources database to carry out countless business processes, maintains historical records and job related data, reports progress on critical HR functions, and thereby facilitating better decision making. Peoplesoft HRMS also creates applicant profiles; recognize contingent personnel, hire employees or simply track persons of interest according to the business requirements. PeopleSoft Human Resources is global by design thus allows companies to meet many universal regulatory and local requirements for data collection and reportingâ€”administer lines of business by region or country, or manage down to individual expatriate assignments. Create the foundation for basic compensation practices and extend the capabilities into more intricate pay programs to take account of cash and non-cash items, multiple components of pay; variable compensation plans; and more. It also Leverages 150 pre-packaged HR-relevant metrics, intricate derived metrics, and leading analysis and reporting templates customized to individual roles, task, and industries. Then it supervises and documents the organization's labor and employee relations, along with labor agreements, contracts, rosters and more. Peoplesoft HRMS improves worker safety and reporting by track work place incidents, illnesses, first aid, and medical treatment, and then manages the accident investigations, take corrective step, and track compensation claims. Lastly it also manage the workforce talent by recognize skills and competencies, and then utilizing that data to manage careers, fill available or key positions, and develop the best performers.