Frequently Asked Questions on Human Capital Management (HCM)

How do I choose between payroll software and a payroll service?

Choosing between payroll software and a payroll service depends on your company's needs and resources. Payroll software allows in-house management of payroll processes, giving you control over payroll calculations, payroll deductions and compliance with payroll regulations. It is beneficial if you have a payroll specialist or team with a solid understanding of payroll systems and the time to manage regular audits and address payroll discrepancies.

On the other hand, a payroll service handles payroll processing externally, which can be advantageous if you lack the resources or expertise to manage payroll in-house. Payroll services manage tax withholdings, employee's pay and compliance requirements, reducing the burden on your payroll department. Consider your company's size, budget and the complexity of your payroll needs when making your decision.

isolved offers both a comprehensive payroll solution and payroll processing services to help companies of any size complete payroll and minimize errors.

Why is online payroll software essential for every business?

Online payroll software is essential for businesses because it automates the complex process of running payroll, ensuring accuracy and compliance. It calculates employee's wages, tax withholdings, and deductions, reducing the risk of errors associated with manual calculations. This is particularly important for businesses with hourly employees and multiple pay periods.

Using online payroll software also simplifies the management of personal information and payroll records. It provides features like direct deposit, electronic pay stubs, and self-service portals, enhancing efficiency and convenience for both employers and employees. Additionally, payroll service providers often keep software updated with the latest tax laws and regulations, ensuring compliance and reducing the administrative burden on businesses.

Learn more about isolved Payroll, our comprehensive solution for managing all your payroll needs.

Why choose isolved for payroll software?

Choosing isolved for payroll software offers a comprehensive solution for managing your payroll needs. isolved provides accurate payroll calculations, ensuring correct employee wages and tax withholdings. It integrates time tracking, direct deposits and paper checks, making payroll processing efficient and straightforward.

isolved also helps maintain compliance with the latest tax laws and regulations, reducing the risk of errors and penalties. Its user-friendly interface and robust features support payroll administrators in handling payroll data securely and efficiently. By choosing isolved, you partner with a reliable payroll service provider that simplifies payroll management and enhances your overall payroll processes.

What size organization is best suited for isolved’s HR and payroll software?

Businesses of all sizes can benefit from HR and payroll software. With a focus on small businesses to mid-sized organizations, isolved's HR & payroll software is specifically tailored to support your organization in transforming HR processes to increase productivity and make more informed business decisions. 

Mid-sized and larger organizations will find isolved’s cloud-based HR systems scalable and capable of supporting complex business needs. The software integrates applicant tracking systems, benefits administration and talent management, aligning with broader business goals. HR leaders and HR teams can leverage isolved’s HR platform to enhance employee engagement and achieve more effective human resource management. Whether your organization is small or large, isolved provides the right HR and payroll software to meet your requirements.

How much does HR and payroll software cost?

HR and payroll software costs can differ significantly depending on your business size, industry and HR and company needs. When selecting a human resources software provider, evaluating the level of support and connectivity offered with their services is crucial. 

If you are interested in learning more about isolved and our HR & payroll software, schedule a demo today.

What does isolved HR software do?

isolved human resources software centralizes employee data to connect the entire HR journey and help you streamline processes like payroll, reporting and analytics, benefits administration and more all while improving the employee experience. 

If you are interested in learning more about isolved and our HR software, schedule a demo today.

How trustworthy is the isolved HCM solution with respect to security and privacy?

isolved takes security and privacy very seriously. It employs advanced security measures to protect sensitive employee data, including encryption, regular security audits and compliance with industry standards. These measures help safeguard against data breaches and unauthorized access, ensuring that personal and payroll information remains secure.

isolved also prioritizes privacy by adhering to strict data protection regulations and best practices. This includes secure data storage, controlled access to information and robust privacy policies. By choosing isolved, HR professionals can trust that their employee data and HR processes are managed with the highest levels of security and privacy.

How is HCM different from HR?

Human capital management (HCM) and human resources (HR) differ in scope and approach. HR typically focuses on core administrative functions such as managing employee records, handling payroll and ensuring compliance with labor laws. It deals with tasks that support the day-to-day operations of the workforce.

HCM, on the other hand, encompasses a broader strategy that includes HR functions but also focuses on optimizing the employee lifecycle. HCM involves talent acquisition, employee performance management, workforce management and aligning HR practices with the overall business strategy. HCM technology and software systems, such as HRMS and HCM platforms, support these comprehensive processes to enhance the employee experience and make informed decisions for long-term growth.

What does isolved HCM do?

isolved’s HCM is a comprehensive human capital management platform that integrates various HR functions into a single solution. It manages payroll, time tracking, benefits administration, talent acquisition and employee performance. The platform aims to streamline HR processes, enhance the employee experience and support workforce management.

isolved HCM also provides robust data analytics and reporting tools to help HR professionals make informed decisions. It supports compliance with labor laws and regulations, ensures accurate payroll processing, and maintains secure employee records. By offering a unified solution, isolved HCM helps businesses optimize their HR operations and align their human capital management with overall business strategies.

Does isolved offer professional services to help me run my business?

Yes, isolved offers a range of professional services to support businesses in managing their HR and payroll functions. These services include implementation assistance, training and ongoing support to ensure that you can effectively utilize the isolved HCM platform. isolved's team of experts can help with system setup, data migration and customization to meet your specific business needs.

Additionally, isolved provides consulting services to help optimize your HR processes and ensure compliance with labor laws and regulations. By leveraging isolved’s professional services, businesses can enhance their HR operations, improve efficiency and focus on their core business activities.

What is isolved Benefit Services?

isolved Benefit Services is a comprehensive solution designed to manage and administer employee benefits. This service includes handling various aspects of benefits administration such as enrollment, plan management, compliance with regulatory requirements, and communication with employees about their benefits options.

Key features of isolved Benefit Services include:

• Enrollment management: Simplifies the process of enrolling in benefits plans, making it easier for employees to choose the right options for their needs.
• Plan administration: Manages the details of different benefits plans, including health insurance, retirement plans and other employee benefits.
• Compliance: Ensures that benefits administration complies with relevant laws and regulations, reducing the risk of penalties and ensuring legal compliance.
• Employee support: Provides tools and resources to help employees understand their benefits, make informed decisions and access necessary information.

By using isolved Benefit Services, businesses can streamline the complex process of benefits administration, enhance the employee experience and ensure that benefits programs are managed efficiently and effectively.