PEO Software Glossary: Key Terms & Concepts

A tax is a governmental mandatory financial charge or levy imposed on a taxpayer to fund certain public expenses. The taxation system is critical for a country's economy since money is req...read more

A self-service portal is a website or app that enables workers (or external clients for externally visible support providers) to help themselves when they require assistance, information, ...read more

The payroll management process consists of a series of controlled processes completed in the same sequence each month to establish a payroll cycle. Put another way; the payroll process is ...read more

Paid time off (PTO) is an employee leave program in which employees can draw from a leave bank (with a certain number of leaves) and be guaranteed a set amount of money for their days off....read more

Employee scheduling is a difficult task. Anticipating workforce needs, handling employee demands and preferences, and guaranteeing shift coverage is a balancing act. It doesn't stop there:...read more

Training management is a software feature that helps organizations efficiently manage their training programs and activities. It serves as a centralized platform for creating, scheduling, ...read more

Employee management is a crucial aspect of any organization, as it involves the effective and efficient management of all the employees within the company. It is a process that involves pl...read more

The time tracking feature is primarily used by businesses that bill customers based on the time it takes to resolve a problem. Staff can quickly record their time on various customer reque...read more

Benefits management includes defining, preparing, analyzing, and monitoring benefits from starting a program or project investment until the last predicted profit is realized. Its purpose ...read more

The process of welcoming new clients, ensuring that their inquiries and concerns are addressed, and delivering new products and services as needed is called onboarding. Depending on the fi...read more

Recruitment management is the process of hiring and selecting employees. It comprises responsibilities including posting job advertisements to attract people, updating application forms, a...read more

Compensation management is a key feature in many software applications that helps businesses efficiently manage their employee's compensation plans. It is designed to streamline and automa...read more

Managers plan, coordinate, regulate, and lead operations that assure compliance with laws and standards through compliance management. It is the process of continuously monitoring and eval...read more

Reporting and analysis is an integral part of any software that aims to provide valuable insights and information to its users. It is a powerful feature that helps users to track, measure,...read more

Vacation (Leave) Tracking is a useful feature that allows organizations to efficiently manage employee time off and requests for vacation or leaves. This feature is commonly found in HR ma...read more