Abstract:

This paper will look at technology and in particular at real-world business applications, and how they can help solve business problems and differentiate and grow the companies, with particular emphasis on Compensation and Benefits (C&B). The document will highlight the benefits and applications of managing information in industry, government, services and how to solve business problems or take advantage of new opportunities using Information Technology (IT). The research and analysis undertaken in this study will be organized in four main sections, detailing the following topics: 1. The suitability of IT solutions for C&B by analyzing the nature of the reward activities and asses the generic suitability of IT applications. 2. The available choices in terms of technology, and the particular aspects of C&B they are best suited for to maximize the output, productivity and efficiency. 3. The benefits of using these solutions and how these translate into and contribute towards overall growth and development. 4. The evolution of IT applications in the last two decades and potential future evolution with focus on the most used HR software.