Cost-Benefit Analysis of new HR software:

Development Cost
a. Software Purchasing cast

 Software Licensing cost

 Stationery cost, furniture and stationery required to house a new Software (System)
 Software Maintenance cost
 Cost of training staff for new software
 Continuously training and development and implementation issues

Benefits:
Tangible Benefits:
 Reduces dependence on hard copy form of data and manual management of employee
information related with the employee details.
 Role of HR would be increased as a strategic partner, which plays an important role in
driving business objectives. From day-to-day tasks with more line up with the
organization strategic functions.
 Accuracy and work efficiency and effectiveness would be increased
 Facilitates saving of time and resources by way of using online applications/forms for
request, created/automated pay slips and payroll in a user-friendly interface. Also helps
administration, improves decision making.
 Data security and reliability
Intangible Benefits:
Employees long term satisfaction

Conclusion:
Benefits outweigh the Cost. ( We can further elaborate this…