HR or Admin departments are responsible for collecting, verifying, storing, updating and maintaining employee information. This information is required for HR transactions, payroll, reporting, statutory compliance, etc.
HR needs to maintain a list of current and past employees. A lot of employee information is generated during the course of employment and each time some HR transactions occur.
For example, if an employee goes on vacation, the leave balance has to be updated and the transaction recorded somewhere.
A system of record helps you manage all this information.
There various categories of information about an employee:
Apart from the employee data, all physical and scanned documents of employees should be safely managed using a Document Management system.