Studies show that in 2023, global human resources (HR) software market’s value stood at $18. 54 billion, and is expected to reach $52. 24 billion by 2032. This highlights the increasing reliance of businesses on HR platforms. However, choosing HR software that suits you best is never easy. Catering to that, we discuss Namely Payroll and PeopleSoft, two well-known options in the industry.

Given below is a detailed Namely vs PeopleSoft guide that highlights their best features and explains how they assist companies in achieving their targets.

Namely Vs PeopleSoft: At A Glance

Feature

Namely

PeopleSoft

HR

Comprehensive HR administration; ensures smooth hiring and onboarding

Efficient HR management; facilitates on and off-boarding 

Benefits Administration

Open-enrollment dashboard, ACA reports, and advanced employee support

Automated task management; Base Benefits module for employees’ inquiries

Performance Management

Automated task lists, applicant tracking, background checks

Learning and development resources; continuous feedback

Payroll Processing

Quarterly and year-end payroll reports; tax compliance

Global payroll; configurable workflows; integration with time and labor

Time Management

Online timesheets, physical time clocks, kiosk and mobile time entry

Automated time capture; analytical dashboard

What Is Namely?

Namely is a cloud-based HR software designed to help organizations effectively execute their administrative tasks. It offers a centralized platform to manage the full employee lifecycle. Companies can efficiently manage talent acquisition, payroll, compliance, and benefits administration.

The software caters to small and medium-sized businesses across various sectors and industries. These include finance, information technology (IT), life science, non-profit, and e-commerce. It offers flexible pricing plans starting at $9 per employee per month.

Unique Features Of Namely

  • Onboarding: Namely automates tasks, securely stores new hire forms, collects e-signatures, and ensures compliance with employment eligibility through an integrated ‘E-Verify' system
  • Mobile App: The software’s mobile app keeps employees connected by providing access to critical information on the go, enhancing engagement and productivity
  • Compliance: With Namely’s compliance tools, businesses are better positioned to mitigate people-centric compliance risks. It offers online resources and live advice to ensure adherence to regulations
  • Scheduling: Namely's advanced scheduling module aligns employee availability and business needs to improve efficiency, ensuring the right people are in the right place at the right time

Pros And Cons Of Namely

Pros

  • Seamless integration of HRIS platform with payroll into a unified system
  • Efficient employee records arrangement that makes it easier to find any information
  • Employees can update their bank accounts and manage direct deposits through employee self-service portal

Cons 

  • Limited reporting capabilities requiring manual double entries that are time-consuming
  • The software does not provide internal communication functionality

What Is PeopleSoft?

PeopleSoft is an HR platform, acquired by Oracle Corporation. It is a suite of fully integrated applications aimed at catering businesses across various sectors. The software offers efficient solutions for Human Capital Management (HCM), Campus Solutions, and Enterprise Resource Planning (ERP).

PeopleSoft offers scalable applications that accommodate growing businesses’ needs and help them increase productivity and employee engagement.

Unique Features Of PeopleSoft

  • Enterprise Learning Management (ELM): It is an integrated application that increases workforce knowledge, skills, and abilities to help achieve critical organizational objectives
  • ePay: Namely offers ePay, which enables employees to review paycheck information, including earnings, taxes, deductions, and net pay distribution, through self-service portals
  • Pension Administration: This feature manages employee retirement benefits, ensuring accurate tracking and administration of pension plans
  • HelpDesk For HR: It provides a centralized platform for employees to seek assistance with HR-related inquiries, streamlining issue resolution and improving service delivery

Pros And Cons Of PeopleSoft

Pros

  • Efficient platform to track worktime, billable hours, vacations, and time-off
  • Reports can be marked into the ‘My Favorites’ list for convenient access
  • Centralized platform for payroll management, salary information, and mileage reimbursements

Cons

  • Sometimes, the system lags during invoice processing
  • The job roles and descriptions are not organized by job functions

Namely Vs PeopleSoft – Key Features Comparison

HR Platform

Namely offers complete control over HR tasks, and companies can personalize their platform as per their needs. From facilitating recruiting and onboarding to ad-hoc reporting, it provides all tools. Users can customize workflows and approvals to streamline activities from anywhere, anytime. Its HR Mobile App enables users to manage key functions on the go, including making announcements, celebrating milestones, requesting time off, and accessing the Company Directory.

PeopleSoft assists companies with end-to-end HR administration. Employers can streamline on and off-boarding. Organizations can organize workforce, boost employee engagement, and productivity within this intuitive platform.

Winner: By offering a comprehensive mobile app, Namely is the crowned winner of this round.

Benefits Administration

Namely offers an open-enrollment dashboard, Affordable Care Act (ACA) reporting, embedded employee support, and payroll integration to facilitate employers. Companies can efficiently manage eligibility and plans with Namely's advanced tools.

PeopleSoft helps organizations effectively manage employee benefits. It offers automated processing, customizable ‘Benefits Statements,’ self-service enrollment, and many such expansive tools that empower employees while reducing administrative burdens for the HR staff.

Moreover, the 'Base Benefits' functionality processes basic employee benefits and queries.

Winner: By offering extensive benefits administration tools, PeopleSoft is the undisputed winner of this round.

Performance Management

Namely streamlines performance management by providing 360-degree feedback to the workforce. Companies can give continuous constructive criticism and help boost employees’ morale and performance. They can also set and track goals for the future.

PeopleSoft helps organizations build a performance and growth-oriented culture that aligns with their objectives. Employers can provide continuous feedback to employees to maximize their work efficiency and track progress with the platform's embedded insights.

Additionally, PeopleSoft offers career development and learning management tools that ensure the workforce's personal and professional growth.

Moreover, the 'Base Benefits' functionality processes basic employee benefits and queries.

Winner: Although both platforms are efficient in talent management and fostering employee development, PeopleSoft wins this round by offering learning opportunities.

Payroll Processing

Namely provides end-to-end payroll processing by offering complete payroll reports that are beneficial for insights and evaluation. To make data processing easier, it also facilitates quarterly and year-end reporting facilities. The software offers an employee self-service portal that enables the workforce to access and manage their expenses.

Moreover, Namely ensures tax compliance and filing that helps companies avoid legal troubles.

PeopleSoft offers an online global payroll service that is efficient in facilitating hybrid and remote teams. It provides configurable workflows that companies can adjust as per their needs and convenience. PeopleSoft also seamlessly integrates with time and labor, financials, and absence management modules for accurate and precise payroll calculation.

Winner: Although both platforms offer advanced services, Namely wins this round by a great margin. By providing detailed payroll reports, it helps businesses evaluate data trends and make informed decisions.

Time Tracking

Namely provides online timesheets for accurate time and attendance management. Employees can clock-in and out via physical or biometric time clocks as well as web punches. It also offers mobile and kiosk time entry functionality.

Moreover, the software helps managers schedule shifts in advance and reduce no-shows.

PeopleSoft offers configurable time entry options that cater to global time and attendance requirements. It provides unified solutions to automate time capture and run complex time calculations that save businesses' valuable time and resources.

By offering self-service tools, PeopleSoft simplifies repetitive tasks that save employees' time and helps them enhance work efficiency. Additionally, employers can monitor the workforce's time through an analytical dashboard and gain real-time insights.

Winner: Both platforms offer robust time tracking skills, multiple clock-in and clock-out options, and personalized dashboards to track employees’ attendance record. Given their neck-and-neck features, it is a tie

Final Word: Should You Choose Namely Or PeopleSoft?

In the above comparison, we delved deep into the key features of both software. Namely is ideal for providing detailed insights for efficient goal management and facilitating companies for all administrative functions. PeopleSoft , on the other hand, offers global payroll that is helpful for companies managing a remote or hybrid workforce. Depending on your immediate requirements and long-term goals, you can select the option that best suits your needs.