IN our series of ongoing articles, wherein we talk to experts in their respective domains, talking about the present and futures scope in the same, we are now bringing you Sumit Sabharwal. Sumit is currently the Managing Director (India and SAARC) for HR heavyweight Excelity Glolbal.
Let’s have a look on the insights he wishes to give.
- What are the services that will take over the future needs in HR Technology? How technology is expected to revolutionize the segment?
Organisations are increasingly adopting solutions which are available on the web, hosted in secured data centres providing seamless integration, data security, scalability, flexibility and cost efficiency. There is an increasing trend towards cloud-based computing and Software as a Service (SaaS) model to fuel critical HR Transformation. SaaS is helping organizations to transform their traditional information technology (IT) structures into more nimble, flexible, and affordable architectures.
SaaS solutions, like cloud computing, can help HR look and work more effectively at the most critical point of change — the interaction between end users and HR services, such as recruitment, screening, predictive analytics, performance management, payroll, time and attendance, or workforce management.
The newer HR technology platforms now offer integrated systems and more access to data, including analytics and assessment science. Employee self-service is now a reality
Some facts about Cloud HR
- 42% firms will replace their existing HR system with a Cloud based solution
- 63% firm expect improved value add from Smart HR systems to their Businesses
- Currently only 24% of cloud HR customers are able to provide promised value
- What are the demands of clients in the segment that are newly emerging?
The shifting paradigms of today’s corporate world demand that businesses reinvent their HR management processes with a strategic and proactive approach towards Human Capital Management.
HR solution market is rapidly expanding. Flexibility, innovation, user experience, integration, functional coverage, rapid deployment, and cost reduction are the key drivers clients look for in a HR solution.
Many MSME’s and start-ups in India are realizing the need to consolidate their payroll as integrated payroll systems which offer many advantages including ease of compliance, operational efficiency and consolidated reporting.
- In view of the rising demand for SaaS-based HR products, how big is the demand from SMBs?
The increased competitive market scenario has prompted the SMEs to invest in this business software and adopt the go-to-market strategies, to make efficient decisions for their business growth. More than larger enterprises, SMEs face a resource crunch and require better methods to solve the complexities for better cost optimization on their assets and requirements.
According to reports global SaaS products will see hyper growth and adoption by SMBs. They will contribute to more than 75 per cent of the public cloud revenues driving the global SaaS industry to $132 billion revenues by 2020, of which SMB SaaS is expected to reach $76 billion.
- What best practices should SMEs keep in mind before shifting to cloud-based HR solutions?
Choosing the right SaaS provider is key to the success of an implementation process. If cost is an important criteria, it may not be the only driver for the decision. Data privacy, vendor-long term strategy, Flexibility, innovation, user experience, performance and service level are the important criteria to consider.
- Can you elaborate on your solution and how it ushers in simplified payroll management and efficiency?
With a vision to simplify HR with affordable product, Excelity Global has been working on the platform for almost a year to make it a cloud-based solution. Priced at Rs 9.99 per employee per month, EZPayroll addresses the entire gamut of modern and complex payroll needs of SMEs to ease the administrative burdens associated with payroll processing, government-related compliance and scaling up with growing needs. At the same time, it provides employees with tax saving options.
EZPayroll will provide cloud-based, easy-to-use, workforce management solutions and employee self-service benefits such as meal vouchers and medical reimbursements that will allow businesses to save time, money and gain control of their workforce by ensuring all areas of their staff administration is fully streamlined for efficiency and effectiveness
The EZPayroll comes with standard and flexi-payroll processing, self-to-do implementation and migration, full and final settlement – the capability to process ‘full and final’ for a single employee or multiple employees, payroll compliance updates available as quick notification, quarterly eTDS reports, other reports such as salary register, employee master, etc. and all statutory reports.
- What are some of the key challenges faced by SMBs in terms of payroll administration? How EZPayroll help resolve these problems?
Problem SMEs face–
Lack of Data Security and Privacy
Inability to provide employees with Tax saving options
Trouble getting started and scaling with growing needs
EZPayroll help resolve these problems-
Zero admin efforts required
Protected by SSAE 16 and VAPT audits
Start operations in 2 hours
Eliminate/ Manage compliance risks by providing correct information
Adaptive built-in features for a growing company
- What is your customer acquisition success?
With over two decades of experience, the company partners with over 1,000 client entities helping them manage and administer their Payroll & Retrials to functions more efficiently. Excelity current clientele includes top Global- Banks and Financial Institutions, e-commerce, utility, IT and FMCG corporations.
With the evolution of its cloud-based payroll offering, Excelity has the chance to make further inroads into organizations needing a payroll solution initially in single country. As its experience and product offering strengthens over time, with localized client wins, Excelity is likely to gain multinational clients seeking a standardized payroll platform across the entire APAC region.
- What are your geographical expansion plans (India and International)?
Excelity on boarded a number of new countries including Bangladesh, Macau, Cambodia and Pakistan in 2016. Excelity will focus on expanding its presence in Malaysia, Japan and Australia.