Analysts, vendors and marketers use confusing terms when they talk about HR software — such as Human Resources Information System (HRIS), Human Capital Management system (HCM) and Human Resource Management System (HRMS). Because the terms HRIS, HRMS and HCM are used interchangeably to describe a wide range of software applications designed to meet human resource management needs, it may be easy for you to overlook subtle differences between them. Depending on which functions a company chooses to enable, as well as its size and other factors, each system may be customized in order for it to meet the needs of that particular firm. As a result, while all three terms may be used to describe the same system, they are not interchangeable. Each term has its own distinct meaning, and it is important for you to know what these differences are so that you can determine which one best fits your company’s needs.

Human Resources Information System (HRIS)

In its earliest form, HRIS was limited to keeping track of employees’ personal data. As organizations increased their expectations of human resources departments, the functionality of HRIS systems expanded. Due to increasing demands on the functionality of the human resources departments, HRIS systems now encompass processes such as talent acquisition and recruitment alongside more traditional areas of responsibility.

Human Resource Management System (HRMS)

HRMS is a set of systems used by employers to manage the company’s internal HR functions, for example the personnel and payroll functions of the company.

As companies use increasingly complex software and automation to perform HR functions, HRMS should interact and coordinate with all of the other systems within the company to achieve synergies. To bring the benefits of automation to their HRMS, companies will need to ensure that the software interacts with and complements all other systems in use throughout the company, such as payroll and time-and-labor management.

Human Capital Management (HCM)

HCM refers to a “people-first” approach that considers all aspects of an employee’s experience, for instance talent acquisition and retention— from attracting the best candidates to keeping them around for years and hiring the right people to retaining them for long term success. HCM provides comprehensive HR function, from recruitment and training to performance appraisal. Advanced talent management capabilities include performance management, succession planning, compensation planning and other HR activities.

An organization’s human resource system can be a key tool in helping it to achieve its goals. With a Multiable HCM system in place, businesses can integrate their various human resource processes and systems into one seamless program. This type of evolution allows companies to track the progress of their workers and provide them with training that will help them improve. Multiable HCM system provides companies with the tools to help their employees perform at their best, thereby achieving business objectives.

About Multiable:

Multiable project team has implemented HCM systems for over 30 years, providing solutions tailored to meet the client’s requirements. Multiable HCM system has revolutionized the Asian human resource management industry by providing fully integrated solutions that standardize business processes and improve coordination among departments. These efficiencies have helped it forge long-term relationships with over 6,000 companies.

About EDG Grant:

The Enterprise Development Grant (EDG) was launched in 2018. EDG is a single grant that supports companies in the upgrading of business capabilities, innovation and internationalization. EDG replaces the Capability Development Grant (CDG) and the Global Company Partnership (GCP) in the same year.

M18 ERP and M18 HCM is under the scopes of EDG grant.

Our consultants have rich experience in helping customers to get EDG application awarded to deploy our renowned M18 ERP in Singapore. Multiable will provide relevant technical / system related documentations and guide you throughout the application process.