What is an all-in-one HRIS?
An all-in-one HRIS is an integrated software that covers the entire HR process from recruitment to retirement.
What is a benefits administration software or point solution?
A benefits administration software/point solution is a standalone software that covers only one aspect of the HR process such as benefits administration or payroll.
So you might be wondering which one to select over the other. This page will discuss the key benefits and drawbacks of each.
Benefits of an all-in-one HRIS
They offer end-to-end HR processes with 360-degree employee views and comprehensive reporting.
They’re more efficient and cost effective because all your data is in one place with no need to switch between different systems, making it easier to troubleshoot and maintain as you’ll only need to rely on one technology.
They’re easy to use with intuitive interfaces and easy navigation.
They’re more scalable because the system can be adapted to your needs as they grow.
They integrate with third party applications like payroll, financials, timekeeping and more which can reduce implementation challenges and maintenance fees
Drawbacks of an all-in-one HRIS
They’re often a bigger up-front cost or investment with a longer-term commitment.
They may not have the best-in-class functionality found in point solutions.
Benefits of a point solution
They’re often best-in-class for their specific process.
They typically offer deep and intricate functionality around their core area.
Drawbacks of a point solution
Since they only offer a single process, organizations will need multiple systems and vendors for other processes.
The disjointed systems aren’t likely to integrate, resulting in costly integration expensives or high-cost expertise and maintenance to manage each system.
They can’t offer the 360-degree view and comprehensive reporting.
Because of the different vendors required, the overall total cost is often higher.
Why HR technology/HRIS solutions are becoming the number one solution for HR processes
Ultimately, having all of your HR functions in one consolidated location, rather than disjointed systems makes running HR processes easier for HR teams and employees alike - saving time, offering more flexibility and ultimately a lower upfront cost once you account for all of the features.
GoCo is a great solution for benefits AND offers an all-in-one solution.
Simple, intuitive benefits administration — GoCo’s benefits administration features make it easy for you and your team to enroll in and manage all your company’s benefit offerings, from health, dental and vision, to commuter benefits and 401K.
A Consolidated hub for ALL of your HR functions - Not only does GoCo help with BenAdmin, but HR professionals can simplify their HR by bringing employee records, time off, documents, and everything into one place — so HR can focus on high-value tasks.