Table of Contents
Our Verdict
Forma, being one of the leading HR software, provides you with tools and a user-friendly interface. You can manage sales compensation, streamline payroll, and integrate machine learning. The software also ensures that your business complies with the existing regulations. You don’t have to bother about the administrative overhead that comes with HR needs. The software automates the processes giving you ample time to focus on things that matter.Â
If you want to learn more about this software, use any of the below communication channels:Â
Forma HR
Corporate Headquarters
Suite 2000, 1 Yonge St Toronto, ON M5E 1E5, Canada.
Phone Number: +1 (833) 367-6224
Email: [email protected]
Website: www.forma.ai
Pros
- Offers comprehensive communication channels.Â
- Provides payroll automation.Â
- Integrates machine learning.Â
- Ensures compliance with regulatory bodies.Â
- Allows you to book a demo.Â
- Automate sales compensation.Â
- Delivers standard compensation compliance.Â
Cons
- Has no actual prices on its website.Â
- Offers expensive prices.Â
Who Forma HR Software Is Best For
Choose Forma HR software if you:Â
- Want Effective Comp Strategy: The software offers an integrated platform where you can design, test, and roll out effective incentive plans. It uses machine learning, modeling, and analytics to get that done.Â
- Desire Compliance and Governance: You and your business don’t have to default on any regulations. With the Forma software, you can easily comply with local laws, works councils, and international pay legislation.Â
- Seek to Streamline Payroll: You don’t have to go through the rigorous process of manually calculating and analyzing payroll. The Forma tool streamlines the payroll process by delivering time, accurate payments to your employees.Â
- Need a User-friendly Interface: Forma offers a straightforward platform where you do your tasks easily. You don’t have to be a techie or an experienced HR software user to get started. The platform is also intuitive, allowing you to work from desktop and laptop.
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Who Forma HR Software Isn’t Right For
Don’t buy the Forma HR software if you:Â
- Seek Price Transparency: Not to say that Forma plays games around its pricing…that’s not it at all. Simply know that Forma doesn’t state its costs on its website. If you’re someone who prefers seeing product prices before contacting a representative, you may find Forma quite uncomfortable.Â
- Want Budget-friendly Software: Be aware, based on research that some users imply that Forma’s costs don’t fit well with the value provided. If you’re on a budget, you may need to seek cheaper software—preferably, one that offers a free plan.Â
- Desire Excellent Customer Support: Keep in mind that there are complaints from customers about Forma’s incompetence in its customer support. Customer support can be slow and unresponsive. If you need to address an issue that requires timely resolution, you might be disappointed.
What Forma HR Software Offers
Employee Compensation
Use Forma’s integrated platform to design, test, and deliver effective incentive plans using machine learning, modeling, and analytics.Â
Compliance with Regulations
This feature allows you to stay on course with local regulations, works councils, and international pay legislation.Â
Payroll Services
Skip the manual calculations and analysis of your payroll and provide timely, and accurate payments to your employees.Â
SPM
With Forma’s single point of management too, you have access to a centralized system or tool. This tool lets you manage various operations or assets from a single point.Â
Talent Motivation
You can customize your dashboard for representatives, managers, and executives. This allows your workers to know their roles and responsibilities in your organization.Â
Mobile App
Forma has a mobile app known as Flexible Benefits Suite. You can find the app both on App Store, and Play Store.Â
Forma HR Software Details
Employee Compensation
Forma’s integrated platform helps you create, test-run, and deliver incentives. This compensation includes the total amount of financial and non-financial rewards that employees receive for working for you. The incentives you give your employees might include base salary, bonuses, benefits, and allowances. With employee compensation, you can attract, retain and motivate workers to align their goals with yours.
Compliance with Regulations
With Forma HR software, you can stay on course with federal, state, and local regulations. Some of these regulations include employment laws, health employment, and safety. You’re also expected to ensure fair treatment of employees regardless of their age, race, gender, or disability. You must also follow data protection policy, and ensure you’re complying with tax laws.
Payroll Services
Ensuring timely, and accurate payments for employees takes time and effort if done manually. With the Forma HR software, you can access tools that simplify the payroll process. The tools automate salary processing and distribution, deducting appropriate federal, state, and local taxes, and managing deductions for benefits. It also helps you issue direct deposits to employees, and keep detailed records of all transactions.
SPM
Strategic Performance Management (SPM) is a systematic approach that Forma gives you to organize and enhance your employees’ performance. The features include setting clear and realistic goals and monitoring employees’ performance on the set goals. You can also gather constructive feedback and reward high-performing workers. And the good thing is that you can do all these operations from a single dashboard.
Talent Motivation
With the talent motivation tool, your workers can know their roles and responsibilities through their dashboard. You can tailor each employee’s dashboard to reflect his/her position—staff, manager, or executive. The tool also helps you reward employees for their achievements, offer monetary incentives, and more.
Mobile App
Forma comes with a mobile app known as Flexible Benefits Suite. The app allows your employees to access HR information and carry out tasks on the go. They can manage their profiles, view pay stubs, request time off, and more. The mobile improves convenience and efficacy in managing your HR operations.
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Where Forma HR Software Stands Out
When considering an HR software solution for your business, Forma is a good pick. It provides a variety of tools and features you can take advantage of. However, there are uncommon areas in which the software shines. Read on to find out more.Â
Comprehensive Communication Channels
Unlike most HR software platforms, Forma offers you several channels of communication. You can get in touch with the company through phone, email, chat, or simply visit a physical branch. You’ll find all the available communication details in the “Contact Us” section of the website.Â
Integrated Machine Learning
Be aware that Forma incorporates machine learning into its software. It does so to improve the designs for compensation plans, dynamically adjust incentives, and predict outcomes.Â
Regulatory Compliance
Forma provides a wide range of tools you can leverage to ensure compliance and governance. The tools also help in audit trails, SOC2 compliance, and secure data management. That way, all compensation-related activities are transparent.Â
Where Forma HR Software Falls Short
Remember that Forma is an incredible software that provides a wide range of HR solutions to businesses and organizations. While this is true, keep in mind that there are areas where the platform lags. Read on to find out.Â
Vague Price Details
Remember, Forma does not display prices on its website. The company holds on to the reason that every business is unique with different needs. As a result, you have to speak directly to a representative to get custom quotes. If you’re someone who prefers knowing your figures upfront before taking further action, you might not like Forma.Â
Expensive Prices
Generally, the prices for HR software can get pretty expensive, especially if you have a large team. But, Forma is a bit higher in price. Based on complaints from users online, Forma isn’t budget-friendly. That means, if you’re on a tight budget, you may find Forma quite unsuitable.Â
How to Qualify for Forma HR Software
To have full access to Forma’s offerings, you need to meet the following criteria:Â
- Know What You Need: Sit down and assess your needs in terms of HR and benefits management. That way, you can know if Forma’s solutions align with what your business requires.Â
- Create an Account: You need to sign up with Forma to officially identify yourself with the company. On the signup page, provide all the necessary details that are required of you. Once everything is complete, submit your request.Â
- Request a Demo: The good thing is that Forma offers you a demo option. Click on “Request a Demo” to give you an opportunity the platform in action. It’s also a time for you to familiarize yourself with its features and seek answers to any questions you may have.Â
- Get an EIN: As part of the primary requirements for tax and payroll processes, you need an Employer Identification Number. If you don’t have one, make sure you get one, at least, for your business’s sake.Â
- Open a Valid Bank Account: As an employer of labor, you need a valid business account. The account helps you to run payroll and business transactions.Â
Alternatives to Forma HR Software
Forma HR Software vs. Gusto
Gusto HR software is a good alternative to Forma when it comes to excellent customer support. The software is praised by many users for providing responsive customer service.
One of the major differences between these two software is that Gusto offers transparent pricing. You won’t find that on Forma’s website. For Gusto, you can access its tools and features when you pay $6/month/user. Forma, on the other hand, requires that you contact its customer rep to get a custom quote.
Forma HR Software vs. TriNet
Both TriNet and Forma are good HR tools that simplify your payroll processes and manage employee benefits. They’re both suitable for small to medium-sized businesses. You can get all the essential HR functions, reducing the need to keep employing vendors.Â
With $8, you can get TriNet HR solution costing per user/month, billed annually. If you choose to pay monthly, your price increases by $2, making it $10/month/user. The choice is yours to make. Remember, you’re not limited to these options. There are several options you can choose from in the marketplace. Keep sourcing until you find the one that aligns with your business needs.Â
Forma HR Software vs. Rippling
Just like Forma, and Gusto, Rippling comes with features, such as payroll, benefits, device management, app and HR management. Rippling gives you access to tools that offer strong automation capabilities. You also have access to a modular platform.Â
Prices for Rippling begin at $8/user/month. It may seem affordable at first until you add modules and features. The prices begin to increase as your request increases.Â
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Customer Reviews
A good customer review not only provides firsthand experiences from other customers, it also helps you make informed decision. With the existence of different review sites, you can see what other users are saying about Forma HR software.Â
With that being said, Forma has a good score on G2, rating 4.9 out of 5 stars stemming from 38 reviews. It also scores well on Capterra with a 4.5 out of 5 stars, coming from 155 customers. On Glassdoor, however, the software has 3.8 out of 5 stars.Â
Both reviews indicate that majority of the employees who use Forma have a good working relationship. As a business owner/ employer, you don’t have to manually process commissions for your employees.Â
Pro Tips
- Automate your payroll process so you can avoid errors and save time.Â
- Ensure that your workers’ needs align with your benefits offerings.Â
- Take advantage of integrations with third-party accounting software.Â
- Gather insights from the platform’s learning resources.Â
- Don’t hesitate to speak with a customer representative if you have any issues or questions.Â
- Compare Forma with other software to see which one provides that best value you need.Â
- Don’t make financial commitment without fully understanding the features you’re purchasing.Â
- Seek advice from friends who have used the software in the past, or are still using it at the moment.Â
Recap
Forma is a good option when it comes to HR solutions and sales compensation. The software offers a simple interface where you can easily navigate your way around it. You can streamline your payroll process and integrate machine learning into the system.Â
One major drawback is that you can’t guess how much it’s gonna cost you to purchase the software. The reason is that prices are not displayed on the website. You have to contact a customer rep to get custom quotes.Â
Above all, assess your business needs and requirements to plan your budget appropriately. Remember, you can check out other HR software solutions to expand your options and choose the most-suitable one for you.
