Having an effective human resource management system, in today’s context, is the most powerful cost-cutting strategy. Leading IT companies like Amazon, Microsoft and Google use AI-powered hr management software and recruitment management systems to automatically filter out unqualified candidates and thereby slash costs by 35%. If they, instead had used the manual methods to sort through the applications, it would have cost their HR team hundreds of productive hours and compromising attention on several other important areas. The money thus saved, could therefore be used for employee training and business growth – a win-win.