Question 1

What is a business management software (BMS)?

Accepted Answer

A business management software (BMS) is a comprehensive set of tools to help businesses run and manage their daily operations. This includes features such as talent management, tracking project expenses, running payroll, and conducting performance reviews. Ultimately, a BMS brings all aspects of business management in one place so companies achieve their goals more easily.

Question 2

What does Factorial software do?

Accepted Answer

Factorial is the business management software that connects all you need to manage your team. It automates repetitive tasks, from hiring and holidays to performance reviews and payroll, saving managers time to focus on their people. The easy-to-use platform unifies processes but decentralizes tasks so every team member has the power to participate. It gives leaders visibility over time, projects, goals, and spending to make data-driven decisions that grow their company and the people in it.

Question 3

What is the purpose of an all in one business software?

Accepted Answer

The purpose of an all-in-one business software is to automate and centralize administrative tasks, giving people the headspace to work on strategic actions and managers the time to focus on their people. It connects all business operations, including tracking hours, managing absences, and monitoring projects in one easy-to-use platform.

Question 4

Why do businesses need a BMS?

Accepted Answer

Utilizing a BMS allows businesses to manage and automate their core operations. It connects finance, HR, and analytics into one cohesive platform. It enables organizations to scale their teams by streamlining their workflows. It also provides managers with real-time insights to make better, data-driven decisions. This way, teams can spend less time searching for insights and more time acting on them.

Question 5

How much does Factorial cost?

Accepted Answer

Pricing starts at $8 per employee per month (PEPM). Factorial follows a modular pricing package, which allows you to only pay for what you need. Review our pricing page for more information. We even offer personalized quotes for your team, inquire about one here.

Question 6

What are the main features of business management software?

Accepted Answer

The main features of a business management software (BMS) are an employee platform, automation tools for operations, people management tools for employee development, and finance tools to help drive growth and keep companies compliant with employment laws. These features make strategic planning and operating a business easier.

Question 7

What tasks can I automate with Factorial?

Accepted Answer

While using Factorial, you’ll be able to automate all tasks related to business management. From time management (clocking in, sick leave, PTO requests), talent management (onboarding, performance reviews, training courses), and finance management (payroll management, expense management, financial reporting). Take a look at our functionalities here.

Question 8

How secure is Factorial's cloud-based business management software?

Accepted Answer

Factorial is ISO/IEC 27001:2017 certified and has renewed its certification in March 2023. This certification represents the highest level of the global information security standard available today, providing customers with assurance that we meet rigorous international standards on security.

As of August 2022, Factorial holds a SOC2 Type I report, and we are actively working on obtaining a SOC2 Type II report by the end of 2023. We have also renewed our Type I report in October 2023. Read Factorial's security policy.

Question 9

Which software is best for business management?

Accepted Answer

Factorial is the best business management software to manage all your core HR functions, payroll, and expense needs. With one single platform, everything from employee data to tracking hours, recruiting top talent, and running payroll is centralized to help you grow your team. And in turn, grow your business.

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