Benefits management software is a tool that helps HR teams to manage and automate employee benefits programs. This includes designing, implementing, communicating, and administering benefits plans, such as health insurance, retirement plans, and other employee benefits. Benefits management software also helps employers manage their compliance with government regulations, such as the ACA, ERISA, and HIPAA. Additionally, its analytics and reporting feature helps employers analyze their benefits costs and make informed decisions about their benefits programs, while integration with other systems ensures that employee data is up-to-date and consistent across all systems.
Gartner defines HCM suites for 1,000+ employee enterprises as cloud applications that deliver functionality for attracting, developing, engaging, administering and rewarding employees. HCM suites for 1,000+ employee enterprises are designed to support transactions and/or analytical processing on a cloud architecture for more than one of the following use cases within a single integrated solution: 1. Manage organization and employee data, life cycle processes and transactional employee/manager self-service. 2. Manage organizational structure through creating, planning, monitoring and controlling job positions. Maintain a record of workforce data through assigned positions for effective workforce management and budget planning. 3. Attract, select and onboard talent through recruiting, internal mobility and onboarding. 4. Retain and develop the workforce through compensation, learning, performance and career pathing. 5. Pay employees timely and accurately along with essential benefits to address employee requirements in health, retirement, wellness and/or well-being. 6. Manage the operational deployment of salaried and hourly workers to capture time, attendance and absences. 7. Deliver tools to assist employers in managing country-specific compliance with legislation and agreements pertaining to data residency and labor laws. 8. Integrate with notable enterprise applications and provide robust reporting capabilities (e.g., finance, procurement).
Gartner defines the multicountry payroll solution market as a market for product offerings/solutions designed to streamline and unify payroll processing across multiple jurisdictions, addressing the payroll complexities of managing a global workforce. These solutions mitigate compliance risks, reduce administrative overhead and enhance payroll accuracy and timeliness. Delivery models include in-house payroll software, payroll managed services, payroll business process outsourcing and payroll aggregation, each offering varying service levels from internal processing to fully outsourced payroll management.