So how do we narrow down the list?

Step One - Determine if you are looking for hosted HRIS solutions or in-house HRIS programs. Actually, under hosted HRIS there are really two options, subscription and hosted HRIS.

Subscription Service solutions (also referred to SaaS or PEPM) are sometimes referred to as multi-tenanted, as many companies share a system that has been configured for general use. The software and the data reside on servers in a secure facility, managed by the Vendor, where you access it from a Web browser. These solutions do not require IT support on your part. They usually require a set-up fee and you typically subscribe to this service on a month-to-month basis based on your employee population for a minimum term.

Licensed/Purchased solutions are sometimes referred to as In-House or On-Premise solutions. You pay a one-time license fee and your IT department installs and maintains the solution on your hardware using your network. Licensed software is configured to your particular needs. There are implementation fees to set up the software. Ongoing annual Support fees are a percentage of the original license cost.

Licensed/Hosted solutions are the same as Licensed/Purchased with the software being configured to your particular needs. The difference is, however, the Vendor hosts your software in its secure facility and provides the back office IT support. There are still implementation and Support fees. There is usually no minimum term as you own a license.

Step Two - How much money do you have to spend? HR systems vary widely in price. You need to determine how much budget money you have to spend before arriving at your short list of vendors to review. You will waste your time if you have People Soft needs on a Microsoft Excel budget.

Determining how much you can spend is, not surprisingly, a little tricky. With the hosted or subscription vendors you are going to spend less up front but so much per month or per payroll cycle. In this case, you would need to find out how much you can spend per month or year. With a licensed in house application, most of your investment will be up front but you will have annual support costs going forward. Even with licensed options, you can spread the payments over a period of time by leasing the software.

Step Three - Increase your HRIS or HRMS IQ. Before deciding exactly what capabilities you are looking for with an HR software application, it's obviously important to understand what your options are.

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