NetSuite launched Dec. 20 its Employee Resource Management product, designed to give employees the tools needed to self-manage and improve productivity.
With NetSuite ERM, employees will be able to file expense reports and purchase requests, keep track of project time, and retrieve human-resources-related documents.
"NetSuites new ERM capabilities make it as easy to manage employees as it is to manage the rest of your business, such as customer and vendor transactions," Zach Nelson, CEO of NetSuite, said in a company release.
NetSuite ERM will feature NetSuites Employee Center, an on-demand self-service portal within NetSuite that will allow human resources management to share documents with employees that include information on benefits, job performance and reviews, company policies, new-hire information, and company holiday schedules.
"Now, they can empower their employees and managers with self-service and integrated expense reporting, as well as eliminating the red tape and cost of administering purchase management, time tracking and payroll through disparate applications," Nelson said.
The new employee management software from NetSuite will also include a built-in approval workflow, enabling business managers to approve their employees expenses and purchase requests as well as their work time and expenses while also having the ability to view their companys history of expenses and purchase requests.
When used with NetSuites integrated payroll service, employees will be able to manage vacation time and W-4s while also being able to view pay stub details.
NetSuite ERM is available now in NetSuite and NetSuite Small Business versions, by purchasing the NetSuite Employee Center, which is sold in five-user bundles starting at $49 per month.
NetSuites payroll service is sold separately, and the price is based on the number of users and payroll frequency.