With hospital management software, you need to invest in hardware for networking, computers, and a good internet connection. The investment in servers depend on whether you opt for on-premise or cloud-based software. With cloud-based hospital billing software, you don’t need to invest in servers. Compensation Administration: HR-Software.Net internet resource guide to Compensation Administration Software vendors and consultants from HR-Guide.com Overall: This tool enabled our compensation team from having to create multiple spreadsheets for compensation planning for 16K employees. HRsoft not only cut the time down the team would have spent preparing spreadsheets, but also provided audit capability of knowing who changed what and when. TOPIC: Compensation Conscience Compensation Package Example. Download Now Download a sample compensation package statement to see how best-in-class organizations are presenting the total value of their rewards packages to their employees. Compensation Management tracks Job & Salary history. It stores dates, rates, locations, divisions, departments, and salary grades; computes and stores compensation ratios, percent-of-range, change amounts, and change percents; computes and stores pay period equivalents for a wide range of pay frequencies for each employee within the HR system. What is meant by compensation management software? Compensation management is a vital human resource process as it facilitates effective talent sourcing and employee retention. All organizations need to understand and plan for structured compensation management to attract new recruits, reduce turnover, adhere to legal wage requirements and ... Incentive compensation management. Read More > ... Myths of low cost add-on software. Read More > ... 8 signs you’ve outgrown spreadsheets for your financial processes.